Deep-pocketed investors are scooping up massive amounts of two artificial intelligence (AI)-related altcoins, on-chain data suggests.
Blockchain-monitoring service Lookonchain noticed that a Binance wallet linked to crypto investment firm DWF Labs suddenly received a large amount of Fetch.ai (FET), a decentralized machine learning project.
“Wallet ‘0x633c’ transferred 1 million FET ($2.25 million) to DWF Labs Binance deposit wallet again [on May 8th].
Wallet ‘0x633c’ received 5 million FET ($11.95 million) from Fetch.ai Foundation yesterday and deposited 2 million FET ($4.71 million) to DWF Labs Binance deposit wallet [on May 8th].”
Fetch.ai is trading for $2.20 at time of writing, down nearly 11% in the last 24 hours.
Next up, Lookonchain noticed multiple whales accumulating large amounts of Render (RNDR), a project related to Graphics Processing Units (GPUs).
“The price of RNDR has increased by 40% in the past week! Let’s check if any whales and smart money are accumulating RNDR!
0x15CF withdrew 748,898 RNDR ($5.3 million) from Binance on April 30th and May 1st, with a current floating profit of $2.24 million. He had traded RNDR seven times before, six of which were profitable, with a win rate of 85.7% and a total profit of $3.5 million!
0x1Cb7 made $480,000 on RNDR before. He has withdrawn a total of 364,586 RNDR ($3.68 million) from exchanges in the past five days, with an average buying price of $9.19.
0xCA9C withdrew 181,922 RNDR ($1.81 million) from Binance six days ago.
0xE61A withdrew 58,950 RNDR ($586,000) from Binance five days ago.
0x06b2 withdrew 50,973 RNDR ($510,000) from Binance [on May 8th] and currently holds 108,713 RNDR ($1.09 million).”
Render is trading for $10 at time of writing, down more than 6% in the last 24 hours.
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The post ‘Smart Money’ Whales Accumulating Two AI Altcoins From Binance, According to On-Chain Analysts appeared first on The Daily Hodl.
