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ETHEREUM WHALES INTERESTED IN THIS UNKNOWN ALTCOIN

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ETHEREUM WHALES INTERESTED IN THIS UNKNOWN ALTCOIN

Data from WhaleStats , a monitoring platform that monitors large transactions, shows that whales are buying the altcoin Render Token (RNDR) with a lot of money. This week, Coinbase announced that RNDR will be available from February 2. Yesterday, the Render token became the fifth most bought token in the top 1000 largest Ethereum holders. On average, the wealthiest crypto investors bought 616 RNDR tokens, worth just under $2,200. over a period of 24 hours. WhaleStats ‘ tweet stated the following:

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NET IN: $RNDR @RenderToken now in the top 10 tokens purchased from 1000 largest ETH wallets 👏👏The top 1000 ETH whales are bumping $35,547,752 #RNDR 🐳🐳Whale leaderboard

The data from WhaleStats also reveals that the whales are collecting the virtual reality world’s cryptocurrency, Decentraland (MANA) . Also, securities token platform Polymath (POLY), layer-2 scaling solution Polygon (MATIC) , decentralized game universe Axie Infinity (AXS) and the decentralized finance (DeFi) altcoin Curve DAO Token (CRV) are popular among the whales.

RNDR is the native cryptocurrency of the Render Network, which has the first blockchain-based peer-to-peer (P2P) GPU rendering network. It also includes a 3D marketplace that aims to make high-end 3D content creation more accessible. Coinbase said the following about the newly listed token:

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“By leveraging the Render Network, node operators can choose to monetize their idle GPUs by processing renders in exchange for Render Tokens (RNDR). RNDR can then be used within the network to render 3D content or exchanged for other cryptocurrencies to pay operational costs.”

Render rose to $4.07 after Coinbase’s announcement, but has since bounced back. At the time of writing, the token is trading at $3.33.

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