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May 8, 2024

‘Smart Money’ Whales Accumulating Two AI Altcoins From Binance, According to On-Chain Analysts

By Daily Hodl Staff

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 Binance wallet linked to crypto investment firm DWF Labs suddenly received a large amount of (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 Foundation yesterday and deposited 2 million FET ($4.71 million) to DWF Labs Binance deposit wallet [on May 8th].” 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 He has withdrawn a total of 364,586 RNDR ($3.68 million) from exchanges in the past five days, with an average buying price of $9.19.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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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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