Render Whales Cash In Massive Profit as RNDR Price Plunges

Following a price rebound, six whales have collectively deposited 7.16 million RNDR tokens, worth $77.9 million, to Coinbase and Binance. These strategic moves have allowed the whales to pocket $60.9 million in profit.

Render Network-Linked Wallet Transfers Remaining RNDR to Binance

According to Spot On Chain, a wallet linked to the Render Network, identified as 0x537, deposited the remaining 455,000 RNDR ($4.59 million) to Binance via GSR Markets at a price of $10.09 per token. The transaction, which took place on May 17 at 02:58, can be viewed on the blockchain with the hash 0x6e06dc4d215656473d2e8eb225f3a73793cc07e30e2004eb0634a260ba439261.

Since April 26, 2024, the wallet has received a total of 4.167 million RNDR from the Render Network’s multisign wallet 0xb6e at an average price of $9.12 ($38 million). The wallet then deposited all tokens to various centralized exchanges (CEXs) at an average price of $9.22 ($38.42 million). Currently, the wallet holds only a small amount of 161 RNDR ($1.62K).

Whale 0x4e4 Continues RNDR Deposits to Binance

Another whale, identified as 0x4e4, has been actively depositing RNDR to Binance. The whale has deposited a total of 400,000 RNDR via three transactions at an average price of $10.73 ($4.29 million). The most recent transaction, involving 150,000 RNDR ($1.57 million), occurred at a price of $10.44 per token.

The whale still holds 250,528 RNDR ($2.63 million) and has an estimated total profit of $4.33 million (+168%).

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Whale Network Realizes Massive Profits from RNDR Trading

Further investigation reveals that whale 0x4e4 is part of a network of five whales that have been trading 2.588 million RNDR since October 15, 2023. These whales share two Binance deposit addresses, 0x494 and 0x504, and have collectively realized an estimated total profit of $15.96 million from RNDR trading. The network currently holds 412,097 RNDR ($4.45 million) across two wallets.

Four Inactive Whales Move All RNDR to Coinbase, Realizing Substantial Gains

In a coordinated move, four whales that had been inactive for six months jointly deposited all 6.761 million RNDR ($73.6 million) to Coinbase at an average price of $10.882 per token. Each whale had accumulated 1.69 million RNDR, which they withdrew from Coinbase primarily between late October and early November 2023 at an average price of only $2.271 (shared estimated cost: $15.4 million).

If these whales sell their RNDR holdings now, each would realize an individual estimated profit of over $14 million, having held the tokens for up to 11 months. Collectively, their joint profit would amount to $58.2 million (+379%).

Read more: Shiba Inu Whale Realizes $3.2M Profit After 2.6 Years of Holding: SHIB Pattern Suggests Continued Uptrend

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency