Santiment Identifies Underrated Altcoin That Can Dominate Market

The Ren­der Token (RNDR) has rapid­ly gained promi­nence in the dig­i­tal asset mar­ket, as not­ed by San­ti­ment, a top cryp­to ana­lyt­ics com­pa­ny. Pre­vi­ous­ly rel­a­tive­ly unknown, RNDR has swift­ly climbed to the 45th posi­tion in mar­ket cap­i­tal­iza­tion with­in the cryp­to realm. A recent surge in price, cou­pled with increased trad­ing and on-chain trans­ac­tions, fur­ther solid­i­fies RNDR’s position.

Double-Digit Surge Sets RNDR Apart

RNDR stands out from the com­pe­ti­tion with its remark­able dou­ble-dig­it growth dur­ing the past 24-hour trad­ing cycle. Among the top 100 cryp­tocur­ren­cies, RNDR is the only asset to achieve such sig­nif­i­cant growth, show­cas­ing its poten­tial and attract­ing attention.

RNDR’s growth trend has estab­lished a con­sis­tent pres­ence with­in the ongo­ing May ral­ly. Despite this pos­i­tive devel­op­ment, San­ti­ment warns about a surge in whale trans­ac­tions, mark­ing the third-high­est vol­ume with­in the past month.

While tra­di­tion­al mar­ket trends may sug­gest a prof­it-tak­ing phase, RNDR’s dis­tinc­tive behav­ior indi­cates the poten­tial for a sus­tained price rise, despite the pres­ence of sub­stan­tial whale transactions.

Rising ‘Shark’ and ‘Whale’ Addresses

Santiment’s data adds cred­i­bil­i­ty to the notion that the RNDR ral­ly still has room for growth. The num­ber of address­es hold­ing 1 to 10 mil­lion RNDR has spiked, reach­ing an all-time high of 90. This sig­nif­i­cant increase sug­gests that the ral­ly may still be in progress rather than enter­ing a prof­it-tak­ing phase.

Also Read: Cryp­to Mar­ket Analy­sis: Top 4 Meta­verse Token With Bull­ish Out­looks for June and July

Investors, Watch Out for Crowd Euphoria!

San­ti­ment also rais­es con­cerns about poten­tial crowd eupho­ria sur­round­ing RNDR. With RNDR becom­ing a hot top­ic in the cryp­to mar­ket, its social dom­i­nance in dis­cus­sions among the top 100 mar­ket cap coins has risen to 0.4%. Although seem­ing­ly insignif­i­cant at first glance, con­sid­er­ing its typ­i­cal lev­el of 0.1%, this trend could indi­cate an upcom­ing price peak dri­ven by the crowd.