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According to market capitalization, the Render Render 1.16% Render coin is among the best cryptocurrencies for decentralized finance and artificial intelligence. Following a sharp decline below $4.50 on September 7, Render has shown remarkable resiliency by regaining support over $6.00.Santiment, a supplier of on-chain data and industry information, claims that Render is recovering because of significant address accumulation. This comes after bulls' effort to push the artificial intelligence token higher at $5.35 a week earlier was rejected by bears, causing it to bottom out around $4.60 on September 18.
During this period, most cryptocurrencies saw notable volatility, with associated tokens like Bittensor Tao and 0.86% Bittensor rising sharply.
Render's gains have been mostly modest, but over the last week, its price has increased by more than 33% due to a bullish shift brought on by whale piling. This increase has occurred in tandem with a recent surge of tokens relating to artificial intelligence.
Recent pullbacks allowed whales and sharks to purchase cheap. Santiment experts noted on X that this was significant for Render.
🐳 Since the market value of @rendernetwork bottomed out one week ago, the AI and DeFi token has ascended +33%. Wallets with at least 100K RENDER, classified as sharks & whales, have accumulated 20.54M more coins (worth $126.3M) in 11 weeks and own 91.82% of the supply. pic.twitter.com/Cp72Udg17H
— Santiment (@santimentfeed) September 25, 2024
According to on-chain statistics, these significant holders have at least 100,000 Render tokens. Large investors control 91% of the token supply, with 902 addresses holding 100,000 or more. Over 20.5 million Render tokens worth $126.3 million have been added to these huge wallets in 11 weeks. Whales and sharks increased Render's supply by 3.7% during this aggressive buildup. Although whales were positive on the cryptocurrency, investment wallets sold out rapidly. Investors sold 21% of their assets last month, which whales bought. Retailers added 3.6% more tokens to their holdings.
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