Wallet 0x537 (likely GSR Markets) just deposited another 200,000 RNDR ($1.21M) to Binance via GSR Markets' Binance deposit address:

• transaction: 0x440bd077c4740ecab7edfd476b077e4badbda8efda8951633beac5a99aee5fd4
• address: 0x53743ac55e434f8aa5097f038b13193497d54d42

Notably, the wallet received 2.07M RNDR from the Render Network's Multisign 0xb6e at an average price of $6.28 ($12.99M) on July 9, 2024, and since then, it has deposited 1.2M RNDR to Binance at $6.458 on average ($7.75M).

However, this is not the first time the wallet received RNDRs from the Render Network and unloaded the tokens to CEX. Since the start of 2024, the wallet has received 5 batches of RNDR tokens from the Render Network and then deposited these tokens to various exchanges in 2 main offloading waves, during which the price eventually increased (more details in Figure 2 below).

Currently, the wallet holds 866,827 RNDR ($5.23M).

Fig 1. Wallet 0x537 (likely GSR Markets)'s RNDR inflow and outflows in the past

Fig 2. The two main RNDR offloading waves by Wallet 0x537 (likely GSR Markets).

Fig 3. The current RNDR holding of Wallet 0x537 (likely GSR Markets).