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<img decoding="async" width="1920" height="1080" src="https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2.jpg" class="attachment-full size-full wp-post-image" alt="Render price RNDR whale" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2.jpg 1920w, https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2-1224x689.jpg 1224w, https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2-768x432.jpg 768w, https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2-1536x864.jpg 1536w, https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2023/12/render-network-rndr-gID_2-150x84.jpg 150w" sizes="(max-width: 1920px) 100vw, 1920px">
Render (RNDR) has experienced a significant uptick in its price, witnessing a nearly 3% surge today. However, what’s grabbing attention is the substantial profit garnered by whales, amounting to $61 million, as per recent reports. Notably, this surge and profit-taking strategy has ignited discussions within the crypto community, prompting speculation about the future trajectory of RNDR’s price. 
<h2 id="span-data-preserver-spaces-true-whales-book-profit-as-render-price-soars-span">Whales Book Profit As Render Price Soars</h2> 
According to a recent report by Spot On Chain, six whales have capitalized on the recent rebound in Render’s price. Notably, the whales have booked profit by depositing 7.16 million RNDR tokens, valued at approximately $77.9 million, onto major crypto exchanges <a href="https://coingape.com/glossary/coinbase/" target="_blank" rel="noopener">Coinbase</a> and Binance.&nbsp; 
Meanwhile, this move has allowed them to pocket an impressive $60.9 million in profit by trading Render, showcasing the profit-taking strategy employed by large investors in response to price surges. 
In addition, the influx of RNDR tokens onto <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener">crypto exchanges</a> and the subsequent profit-taking by whales&nbsp;reflect the dynamic nature of the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> market.&nbsp;Usually, the large holders strategically leverage price movements to maximize gains when the price of an asset soars.&nbsp; 
While this strategy can lead to short-term price fluctuations, it also underscores&nbsp;the confidence of investors in RNDR’s potential for growth. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" src="https://pbs.twimg.com/media/GNsdKEtaoAAUF4N?format=png&amp;name=small" alt="Render Whales Trading Activity RNDR Price" width="754" height="670">
 <figcaption class="wp-caption-text">
 Source: Spot On Chain, X
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/bitpanda-expects-record-high-profit-in-2024-as-over-100m-revenue-in-q1/" target="_blank" rel="noopener">Bitpanda Expects Record-High Profit In 2024 As Over $100M Revenue In Q1</a> 
<h2 id="span-data-preserver-spaces-true-concerns-over-price-impact-span">Concerns Over Price Impact</h2> 
Despite the bullish sentiment surrounding <a href="https://coingape.com/blog/render-vs-theta-which-depin-altcoin-to-buy-in-may/" target="_blank" rel="noopener">Render</a>, the massive sell-off by whales has raised concerns about its potential impact on the token’s price in the near future.&nbsp;Such significant transactions often&nbsp;lead to increased volatility and could&nbsp;temporarily dampen investor sentiment.&nbsp; 
However, it’s essential to recognize that&nbsp;price fluctuations are&nbsp;a&nbsp;common&nbsp;occurrence&nbsp;in the crypto market&nbsp;and do not necessarily reflect the underlying fundamentals of a project. Meanwhile, the RNDR community and investors will closely monitor market developments in the coming days to gauge the extent of the price impact resulting from the <a href="https://coingape.com/render-whales-triggered-the-40-rndr-price-rally-last-week-whats-next/" target="_blank" rel="noopener">Render whales’</a> profit-taking activity.&nbsp; 
Additionally,&nbsp;factors such as overall market sentiment, project developments, and external market dynamics will likely influence RNDR’s price trajectory in the medium to long term. 
Meanwhile, as of writing, the <a href="https://coingape.com/price/render-token/" target="_blank" rel="noopener">Render price</a> soared 2.81% during&nbsp;writing,&nbsp;and exchanged hands at $10.22,&nbsp;while&nbsp;hitting a high of $11.12 in the last 24 hours. Amid the substantial transfers, the one-day trading volume of the crypto also jumped 68.30% to $682.08 million.&nbsp; 
Notably, the RNDR price has added more than 24.50% in the last 30&nbsp;days,&nbsp;while&nbsp;soaring over 450%&nbsp;over the last&nbsp;12 months.&nbsp;During writing,&nbsp;the <a rel="nofollow" href="https://www.coinglass.com/currencies/RNDR" target="_blank">Render Futures Open Interest (OI)</a> also advanced 8.59% to $177.92 million, as per CoinGlass data. 
Also Read: <a href="https://coingape.com/binance-unveils-new-spot-trading-pairs-heres-all/" target="_blank" rel="noopener">Binance Unveils New Spot Trading Pairs, Here’s All</a> 
The post <a href="https://coingape.com/render-price-whales-bag-61m-profit-rndr-price-rallies/">Render Price: Whales Bag $61M Profit As RNDR Price Rallies</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Render Price: Whales Bag $61M Profit As RNDR Price Rallies

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