TechFlow reports, according to on-chain analyst烬 (Yujing), that an address transferred 702,347 RNDR (worth approximately $1.65 million) into Coinbase shortly after the start of Apple's keynote event.
It is understood that this address had previously made two investments in RNDR, both resulting in slight losses. The first investment occurred between April 26 and May 2, during which the investor purchased 590,000 RNDR for $1.3 million and sold them on May 3 for $1.22 million, incurring an $80,000 loss.
The second investment took place between May 19 and May 25, when the investor acquired 700,000 RNDR for $1.7 million. Now, as the price of RNDR has dropped to $2.30, the address has moved these RNDR tokens into a Coinbase account. This transaction is expected to result in a loss of approximately $100,000.
