- The crypto market experienced significant movements on May 16th, with major whale activities observed in Render Token (RNDR coin), Bitcoin (BTC), Pepe (PEPE), and Ethereum (ETH).
- Whales reportedly made substantial profits from the recent price surge of RNDR, while significant transactions continue in Bitcoin and ETH.
- Meanwhile, large amounts of PEPE tokens are being withdrawn from exchanges, indicating potential shifts in whale confidence or investment strategies.
Explore the latest crypto whale activities and their potential impact on the market. Understand the dynamics of RNDR, BTC, PEPE, and ETH as whales make their moves.
Whales Cash in on RNDR’s Price Surge
According to SpotOnChain, six whales deposited a total of 7.16 million RNDR tokens (approximately $77.9 million) into Coinbase and Binance following the recent price increase of RNDR. This suggests that these whales likely bought RNDR at a lower price and are now profiting from the recovery, making an estimated profit of $60.9 million. This profit-taking could potentially cause short-term price fluctuations for RNDR.
Continued Bitcoin and ETH Transactions
Data from Lookonchain revealed that a whale made a significant purchase of an additional 102 BTC (about $6.72 million) just 8 hours ago. This whale has been on a buying spree since March 6, accumulating an impressive 3,385 BTC (approximately $232 million) with an average purchase price of $68,579 per BTC. Despite the recent price increase, the whale is still facing a potential loss of $8.08 million due to previous purchases. This ongoing accumulation suggests that the whale may be betting on a long-term price increase for Bitcoin.
Whales Withdrawing PEPE Tokens from Exchanges
Scopescan reported a large withdrawal of PEPE tokens by a whale with an address starting with “0xd520”. This whale withdrew 520 billion PEPE tokens, valued at approximately $5.3 million, from Binance. The reason for this withdrawal remains unclear. It could be a sign that the whale is moving PEPE assets to a different wallet or exchange, or it could indicate a potential loss of confidence in the PEPE project.
Conclusion
These recent whale activities highlight the dynamic nature of the crypto market. While some whales are cashing in on the RNDR price surge, others continue to accumulate Bitcoin and ETH despite potential losses. Meanwhile, the withdrawal of PEPE tokens from exchanges suggests possible shifts in investment strategies or confidence levels. As always, investors should stay informed and vigilant in this ever-changing market.
