Taking an important step in the crypto space, Kenetic Capital, one of the leading institutional investors, deposited approximately 4.1 million RNDR tokens worth approximately $20.4 million into the Binance exchange today.
Kenetic Capital Sent 4.1 Million RNDR to Binance
This development comes after all 6.6 million RNDR tokens, with a total value of approximately $32.5 million, were deposited on a central exchange (CEX) on December 24, 2023.
Spot On Chain, a platform that tracks on-chain transactions, revealed this latest investment by Kenetic Capital, demonstrating continued interest in RNDR, a digital asset associated with blockchain-based processing solutions.
Notably, before the recent deposits to the exchanges, Kenetic Capital had the largest institutional stake in RNDR.
This transaction underlines Kenetic Capital's significant involvement in the RNDR ecosystem and positions itself as a key player in the token's distribution environment.
With an estimated $15.95 million in gains from its RNDR assets, Kenetic Capital's strategic moves in the crypto space demonstrate its confidence in the asset's potential and the broader blockchain industry.
While Kenetic Capital continues to be actively involved in RNDR tokens, market watchers are carefully monitoring investment activities, anticipating further developments and potential impacts of RNDR on market dynamics.
*This is not investment advice.
