The post Render Whale Nets $466,000 Profit after RNDR Price Recovery appeared on BitcoinEthereumNews.com.

Another whale made headlines on Tuesday when he sold his Render holdings, making huge gains from the initial investment. Despite the ongoing bear market, savvy investors are capitalizing on it to grow their earnings. According to data from Onchain Lens today, a whale has deposited 908,259 Render (RNDR) worth $6.47 million to Binance at an average price of $7.13. This strategic move enabled the trader to pocket $466,000 profit. The trader accumulated the Render coins for $6.01 million over the past 8.5 months. A whale has deposited 908,259 $RNDR worth $6.47M into #Binance at an average price of $7.13. The whale accumulated these $RNDR for $6.01M over the past 8.5 months, making a profit of $466K. Wallet: 0xbd299f26f28ee65c2982ee3b644a1661ea4747a0 pic.twitter.com/csAsCNroBL — Onchain Lens (@OnchainLens) December 24, 2024 Whale activity increase in Render Network The price of RNDR has surged by 6.8% today as a prominent trader sold off a massive part of his holdings. The profit-taking move occurred after the Render price soared today following significant losses for the altcoin in the last seven days.  The whale capitalized on the token’s price increase, enabling him to secure $466,000 profit. The profit-taking strategy used by the trader signaled his response to recent price surges. The latest metrics show a significant increase in whale activity, triggering positive sentiment in the price of Render. According to data from IntoTheBlock, large transactions have increased by 10%, signaling an increasing whale activity on Render and a bullish outlook for the crypto. This trend is important because big investors typically play a vital role in fueling and sustaining price movement. In most cases, an increase in whale activity is associated with robust price movement, further supporting the possibility for Render to continue its uptrend. In other words, the crypto could maintain its upward movement with strong support…

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Filed under: News - @ December 25, 2024 4:17 pm