The post Render (RNDR) Price Eyes Increase Without Whales appeared on BitcoinEthereumNews.com.

Render (RNDR) experiences price increase as smaller holders increase their positions, countering whales’ distribution. Traction on Render’s network is growing thanks to an influx of new and active addresses. The price of the token hangs at an opportunity zone which can drive it toward $8.37. Render (RNDR), the token of the distributed GPU network, has been one of the top gainers of the last 24 hours. However, it appears that whales have refrained from adding fuel to the uptrend. While whales take a back seat, on-chain analysis proves that other token holders are not waiting to be fed before taking matters into their own hands. Retail Investors Snap Up More Supply Before we begin, it is important to define who whales are. Whales are entities that hold large amounts of cryptocurrencies. Because of this, they tend to have a big influence on prices. According to IntoTheBlock, RNDR whales have been distributing the token. Data from the blockchain analytic platform reveals that addresses holding 1 million to 100 million RNDR have decreased their balance in the last seven days. But a new wave of buy orders has begun to pile up. This time, it is from retail investors. As the image below shows, addresses holding 100,000 to 1 million RNDR tokens have increased their balance by 14.54%. The lower cohort holding 1 to 10 tokens has also topped their balance by roughly 10.79%. Should this action continue, it will lend credence to the optimistic outlook for RNDR. Render Network Activity Rises In addition to the distribution and accumulation mentioned above, activity on the Render network adds to the bias. In a seven-day window, the number of active addresses increased by 13.37%. Active addresses show the number of unique users participating in successful transactions on a blockchain. If the proportion of active…

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Filed under: News - @ June 20, 2024 12:16 pm