RNDR Whale One Million Token Transfer to Binance Raises Suspicions

• Kinetic Capital moves 500,000 RNDR worth around $2.51M to Binance.
• The transfer to the crypto exchange is the second in recent times. 
• Kinetic Capital is the eighth-largest holder of RNDR, which makes the move significant.

In a recent report, cryptocurrency on-chain analytics platform Spot On Chain revealed Kinetic Capital has moved a substantial amount of its RNDR holdings to the crypto exchange platform Binance. 

The report shows Kinetic deposited 500,000 RNDR worth around $2.51 million in the early hours of today. The latest transfer to the exchange follows previous deposits by Kinetic. In the past three days, Spot On Chain data shows the company has deposited 1 million RNDR tokens worth $4.89 million at Binance. 

Per the report, the activities of the company are significant given that it is the eighth-largest holder of RNDR. As detailed, the venture capital company currently holds around 5.6 million RNDR tokens worth an estimated $27.9 million. 

It is worth noting that the deposits came at a time when RNDR’s value was seeing an upward trend. RNDR’s bullish trend follows a wider market recovery propelled by spot Bitcoin-ETF speculations. 

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