Whales have purchased low-value altcoin Render Token (RNDR), according to data from whale watching platform WhaleStats.
Coinbase announced this week that RNDR will be available on its platform from February 2. Render became the fifth most purchased token among the top 1000 Ethereum holders on Thursday. The wealthiest crypto investors bought an average of 616 RNDR coins worth $2,171 in a 24-hour period.
WhaleStats figures also show that whales received Decentraland (MANA), Polymath (POLY), Polygon (MATIC), and Axie Infinity (AXS).
RNDR is the native cryptocurrency of Render Network, the first blockchain-based peer-to-peer GPU rendering network and 3D marketplace aimed at making high-end 3D content creation more accessible.
Coinbase had this to say about the newly listed token:
“Node operators can choose to monetize their idle GPUs by rendering renders in exchange for Render Tokens (RNDR), using the Render Network. RNDR can then be used to create 3D content within the network or exchanged for other cryptocurrencies to pay operational costs.”
Render spiked to $4.07 after Coinbase’s announcement, but has since pulled back. The token was trading at $3.43 at the time of writing.
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