The increased interest in artificial intelligence-focused altcoins with the 2024 GTC AI conference of technology giant NVIDIA also mobilized the whales.
While the NVIDIA 2024 GTC AI conference creates increases on artificial intelligence-focused altcoins, crypto whales couldn’t remain indifferent to these increases.
According to the data transferred by the on-chain analysis platform Spot On Chain, a whale with the wallet address “0x22f” recently deposited 1 million RNDR worth 11.3 million dollars into Binance. The profit from this whale’s RNDR investment exceeds 24 million dollars, while the whale still holds 13 million dollars’ worth of RNDR.
Two whales with the wallet addresses “0x9f5” and “0x69f” transferred 1.5 million RNDR worth 19.5 million dollars to Coinbase.
As the upward trend continues, concerns about a potential “sell the news” situation have begun to increase with the start of the conference.
In a recent report presented by Coinbase, it was stated that these increases in artificial intelligence projects are not sustainable and that they resemble the meme coin frenzy.
