The Giant Corporate Whale is on the move again: It transferred a large amount of altcoins to Binance, and the price reacted!

The leading cryptocurrency Bitcoin (BTC) started the new week at $ 42,700, and altcoins continue to trend horizontally.

However, some altcoins attract the attention of investors by diverging from the market positively or negatively.

At this point, Render (RNDR), an Ethereum-based altcoin, left the market negatively with a decrease of up to 8% in the last 24 hours.

Behind this decline was the RNDR transfer made by Kenetic Capital, RNDR’s largest corporate holding address, to Binance.

Lookonchain said in its post that Kenetic Capital transferred 1 million RNDR worth $4.68 million to Binance today.

“Kenetic Capital deposited 1 million RNDR (worth $4.68 million) to Binance again 11 hours ago.

Kenetic Capital purchased 4.8 million RNDR (valued at $17.88 million) from Binance and HTX at $3.72 in November 2021 and November 2022.

Kenetic Capital then deposited 2.5 million RNDR (worth $11.68 million) on Binance at $4.67 since December 24, 2023, making an approximate profit of $2.37 million.

Kenetic Capital currently holds RNDR 4.1 million (valued at $18.12 million).”

RNDR, which decreased by up to 8% after the Kenetic Capital transfer, continues to be traded at $ 4.43 at the time of writing.

Kenetic Capital deposited 1M $RNDR($4.68M) to #Binance again 11 hours ago.

Kenetic Capital withdrew 4.8M $RNDR($17.88M) from #Binance and #HTX at $3.72 in November 2021 and November 2022.

Then deposited 2.5M $RNDR($11.68M) to #Binance at $4.67 since Dec 24, 2023, making… pic.twitter.com/LWdQA85ald

— Lookonchain (@lookonchain) February 5, 2024

*This is not investment advice.

SOURCE

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