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HomeETHEthereum whales are shifting towards the newly launched altcoin

Ethereum whales are shifting towards the newly launched altcoin

The “Render Token,” which was recently listed on the Nasdaq-listed cryptocurrency exchange “Coinbase,” has gained the attention of the Ethereum whales. This altcoin swiftly gained popularity among investors, becoming one of the most acquired tokens among the Ethereum network’s 1000 whales.

According to WhaleStats data, Render Token (RNDR) purchases came only after purchases of Ethereum’s native cryptocurrency and three stablecoins: USDC, BUSD, and USDT. Purchases for Decentraland’s MANIA, Polygon’s MATIC, and Curve’s CRV were behind it.

Render is the native token of the Render Network, a blockchain-based GPU rendering network and 3D marketplace aimed at making high-end 3D content production more accessible. Node operators may use the Render Network to monetize idle GPU processing capacity by processing renderings in return for RNDR tokens.

According to WhaleStats data, whales have the largest token holding in terms of dollar value of FTX‘s native $FTT token, whereas the most frequently held crypto asset is the native token of decentralised exchange Uniswap.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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