According to on-chain data from blockchain-monitoring service Lookonchain, wealthy investors are eagerly acquiring large quantities of two altcoins that are related to artificial intelligence (AI). The first altcoin is Fetch.ai (FET), a decentralized machine learning project, which saw a Binance wallet connected to crypto investment firm DWF Labs receive a sudden influx of 1 million FET tokens, worth $2.25 million. Additionally, the same wallet received 5 million FET tokens, valued at $11.95 million, from the Fetch.ai Foundation. Currently, the price of Fetch.ai stands at $2.20, experiencing an 11% drop in the past 24 hours.

Lookonchain also observed multiple wealthy individuals accumulating significant amounts of Render (RNDR), an altcoin associated with Graphics Processing Units (GPUs). The price of RNDR has increased by 40% in the past week, prompting scrutiny into whether influential investors are accumulating the token. One individual, identified as 0x15CF, withdrew 748,898 RNDR tokens, worth $5.3 million, from Binance, resulting in a floating profit of $2.24 million. This particular investor has successfully traded RNDR on seven occasions, with six of those trades being profitable, generating a total profit of $3.5 million and an 85.7% win rate. Another investor, 0x1Cb7, has made $480,000 from RNDR and has recently withdrawn 364,586 RNDR tokens, valued at $3.68 million, from exchanges at an average buying price of $9.19. Other investors, such as 0xCA9C and 0xE61A, have also withdrawn significant amounts of RNDR tokens from Binance. As of now, the price of RNDR is $10, experiencing a decrease of over 6% in the past 24 hours.

It is important to note that the information provided is not investment advice, and investors should conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Transfers and trades are undertaken at the investor’s own risk, and any resulting losses are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it serve as an investment advisor.