Kenetic Capital’s news of depositing $20 million worth of Render (RNDR) tokens on Binance shook the entire crypto world. Consequently, Render prices fell after reaching a price level of $5.2 at the end of December to $3.37 in January. RNDR further declined before recovering at the support level of $4.28 on February 6.
On February 14, the RNDR price dropped to $4.98, at which point selling pressure again is observed. Analysts are speculative about the future trend of RNDR as the withdrawal of a Kenetic Capital has badly undermined market confidence. If no new long-term buyers show up, there may be more drops ahead.
Render Struggling due to Kinetic Capital’s deposit of $20 million worth of tokens
Data from Spot On Chain shows that Kenetic Capital deposited its holdings into Binance, totaling 4.1 million RNDR, or roughly $20.4 million. Before this, Kenetic Capital held the title of greatest institutional RNDR holder, having deposited $32.5 million worth of 6.6 million RNDR onto centralized exchanges.
Kenetic Capital is reported to have gained $15.95 million from the sell-off of RNDR. In 2021, the company deposited $3.92 million worth of RNDR to Huobi at an average price of $1.216 and purchased $18 million worth of RNDR at an average price of $3.76 from HTX and Binance.
Kenetic Capital’s large sell-off has sparked concerns about Render’s potential for future strength hence undermining investor confidence. The effect of this decision on Render’s future price charts is a hot topic of discussion in the crypto community as investors keep a careful eye on the possible fluctuations.
Algotech Appears as a Major Opportunity for Early Investors
Algotech, the powerhouse behind the ALGT token, has emerged as a standout force in the
AI domain. The algorithmic trading platform leverages advanced machine learning to
empower traders. Drawing parallels with game-changer projects, Algotech has strategically emerged as a significant competitor for Render (RNDR).
The project has managed to surpass all expectations with a mind-blowing $1.1 million
private sale within two days. Market insiders estimate that its value is predicted to reach an all-time high of $0.15 before it gets listed on more exchanges, indicating a significant rise in early investment profit of 265%.
With Rendor’s rising speculations, early investors prefer Algotech because of its
massive upside potential. The ERC-20 coin has deflationary tokenomics that promises
governance rights and profit shares for community members.
Comparing Algotech vs. Render
Algotech’s phenomenal tokenomics are a key factor in making it a better choice than
Render (RNDR). The project is expected to include a suite of cutting-edge trading features,
including breakout trading, hedging, and arbitrage identification.
Given the impressive growth of the project, the project is expected to grow significantly beyond its current presale price of $0.04. According to leading analysts, this makes Algotech (ALGT) the ideal project for investors looking for high returns.
