{"id":305587,"date":"2024-05-20T15:22:32","date_gmt":"2024-05-20T09:52:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=305587"},"modified":"2024-05-20T15:22:32","modified_gmt":"2024-05-20T09:52:32","slug":"render-price-slips-as-whale-offloads-3m-rndr-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/render-price-slips-as-whale-offloads-3m-rndr-whats-next-crypto-news\/","title":{"rendered":"Render Price Slips As Whale Offloads $3M RNDR,\u00a0What’s\u00a0Next? – Crypto News"},"content":{"rendered":"

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The price of Render (RNDR)<\/a> dropped by more than 4% today as a major investor, or<\/span>\u00a0\u201c<\/span>whale,<\/span>\u201d\u00a0<\/span>sold off a significant portion of their holdings. Despite this profit-taking move, which followed notable gains for RNDR in recent weeks, some market analysts remain optimistic about the\u00a0<\/span>token\u2019s<\/span>\u00a0future. So,\u00a0<\/span>let\u2019s<\/span>\u00a0take a quick tour of the recent transactions and see how the recent events may trigger a price rally of the cryptos.<\/span><\/p>\n

Whale Sells $3M RNDR, Market\u00a0<\/span>Reacts<\/span><\/h2>\n

A\u00a0<\/span>major<\/span>\u00a0RNDR holder reduced their position significantly, sparking a\u00a0<\/span>decline in the\u00a0<\/span>token\u2019s<\/span>\u00a0price<\/span>.<\/span> According to The Data Nerd, within 24 hours, the Render whale<\/a> known as 0x1Cb deposited 265,000 RNDR, worth about $2.78 million, to the major crypto exchange<\/a>, Binance.\u00a0<\/span><\/p>\n

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Notably, the report showed that this whale had initially bought 365,000 RNDR at an average price of $9.20 and still retains 100,000 RNDR, worth approximately $1.1 million.<\/span><\/p>\n

Meanwhile<\/span>, over the past week<\/span>, other large holders of RNDR<\/a> have also capitalized on the crypto\u2019s <\/span>price rebound.<\/span>\u00a0Last week, a report from Spot On Chain showed that six whales collectively deposited 7.16 million RNDR tokens, valued at around $77.9 million, onto exchanges like Coinbase<\/a> and Binance.\u00a0<\/span><\/p>\n

This move allowed them to secure around $61 million in profits. The profit-taking strategy\u00a0<\/span>employed by these investors<\/span>\u00a0highlights their response to recent price surges. However, despite the selling pressure from these whales, not all investors are bearish. Some see the potential for future gains, particularly with upcoming events in the technology sector that could influence AI-related tokens like RNDR.<\/span><\/p>\n

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Also Read: XRP Whales Move 283M Coins Amid Price Flux, Is A Bull Run Possible?<\/a><\/strong><\/p>\n

Bullish Momentum Ahead?<\/span><\/h2>\n

Looking ahead, many investors are\u00a0<\/span>keeping an eye on<\/span>\u00a0<\/span>NVIDIA\u2019s<\/span>\u00a0earnings report, scheduled for Wednesday, May 22.\u00a0<\/span>Notably,<\/span>\u00a0analysts expect strong results due to growing demand for AI chips and technology services.<\/span>\u00a0Positive\u00a0<\/span>developments in the technology<\/span>, especially artificial intelligence (AI)<\/a> space, often spark rallies in AI-related cryptocurrencies, which could boost\u00a0<\/span>RNDR\u2019s<\/span>\u00a0price.<\/span><\/p>\n

Render,<\/span>\u00a0being a prominent player in the AI coin<\/a> space, stands to benefit from any positive market sentiment generated by\u00a0<\/span>NVIDIA\u2019s<\/span><\/a> performance.<\/span>\u00a0This potential for a rally has some investors maintaining a bullish outlook on\u00a0<\/span>RNDR,<\/span>\u00a0despite the recent profit-taking activities by large holders.<\/span><\/p>\n

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Meanwhile, as of writing, the Render price<\/a> slipped 4.24% and exchanged hands at $10.04, with its trading volume soaring 46% to $334.69 million. Over the last 24 hours, the crypto has touched a high of $<\/span>10.63,<\/span>\u00a0while hitting a low of $9.65\u00a0<\/span>in the last<\/span>\u00a024 hours.<\/span><\/p>\n

Also Read: Binance Unveils New Theme For WOTD Game, BNB Price Soars<\/a><\/strong><\/p>\n

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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The price of Render (RNDR) dropped by more than 4% today as a major investor, or\u00a0\u201cwhale,\u201d\u00a0sold off a significant portion of their holdings. Despite this profit-taking move, which followed notable gains for RNDR in recent weeks, some market analysts remain optimistic about the\u00a0token\u2019s\u00a0future. So,\u00a0let\u2019s\u00a0take a quick tour of the recent transactions and see how the […]<\/p>\n","protected":false},"author":2,"featured_media":305590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-305587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=305587"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305587\/revisions"}],"predecessor-version":[{"id":305599,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305587\/revisions\/305599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/305590"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=305587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=305587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=305587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}