Whale Accumulates Little Known Altcoin After It Lists on Coinbase

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Ethereum whales quickly moved to accumulate a little-known altcoin called Render Token (RNDR) shortly after the cryptocurrency was listed on Coinbase exchange.

According to data shared by the tracking service WhaleStats, RNDR is quickly becoming one of the most bought coins by the 1.000 largest whales on the Ethereum network, these whales have accumulated over 35,5 million dollars RNDR.

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WhaleStats data shows that RNDR is second only to Ethereum and three stablecoins: USDC, BUSD, and USDT. 

What is Render Token (RNDR)? RNDR . Cryptocurrency Details

Render, is the native coin of Render Network, a blockchain-based GPU rendering network and 3d marketplace that aims to make premium 3D content creation more accessible.

Through the Render Network, node operators can monetize idle GPU processing power for rendering processing in exchange for RNDR.

Coinbase also listed other altcoins at the time, namely Aventus (AVT) and Quantstamp (QSP).

While these two cryptocurrencies have seen larger price increases after their listing, only RNDR has seen Ethereum whales accumulate.

WhaleStats data also shows that the coin with the largest dollar value of whales is FTT, while the cryptocurrency most held by whales is Uniswap.

At the time of writing, Loopring's LRC has also made it to the list of the most bought coins by Ethereum whales, along with BAT.


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