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- The popular AI altcoin RNDR has seen a price increase of 38% in the past week amidst strong whale accumulation.
- Leading cryptocurrency Bitcoin’s price performance is influencing altcoins, with some altcoins, including AI altcoins Arweave (AR) and Render (RNDR), experiencing impressive gains.
- According to Lookonchain, whales have been accumulating significant amounts of RNDR in recent days.
AI altcoin RNDR sees a 38% price increase in a week due to strong whale accumulation, with market analysts expecting the upward momentum to continue.
Whale Accumulation Fuels RNDR’s Price Surge
Whales have been accumulating significant amounts of RNDR in recent days, which has contributed to the altcoin’s impressive price performance. According to data shared by Lookonchain, several notable transactions have taken place on Binance, with whales purchasing large quantities of RNDR.
Notable Whale Transactions
Among the notable transactions, 0x15CF purchased 748,898 RNDR (worth $5.3 million) on April 30 and May 1. 0x1Cb7 bought a total of 364,586 RNDR (worth $3.68 million) at an average price of $9.19 over the past five days. 0xCA9C acquired 181,922 RNDR (worth $1.81 million) six days ago, while 0xE61A bought 58,950 RNDR (worth $586,000) five days ago. Most recently, 0x06b2 purchased 50,973 RNDR (worth $510,000) today.
Market Analysts Expect Upward Momentum to Continue
Market analysts are expecting the upward momentum in RNDR to continue. At the time of writing, RNDR is trading at $9.98. However, it is important to note that this is not investment advice and individuals should do their own research before making any investment decisions.
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Conclusion
The recent price surge in RNDR, fueled by strong whale accumulation, highlights the potential of AI altcoins. With market analysts expecting the upward momentum to continue, RNDR could be an altcoin to watch in the coming days. However, as always, caution and due diligence are advised when investing in the volatile cryptocurrency market.
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