The artificial intelligence sector may soon gain popularity as whale activity increases! Will AI-Craze be brought back?

Different sectors of the cryptocurrency market have shown strength at different times. Starting with the AI ​​boom in Q4 2023, which pushed the entire cryptocurrency market out of a prolonged consolidation phase. The growth that began then was under the influence of the bulls, and memecoins followed suit along with Bitcoin and Ethereum.

While AI-based tokens maintained significant growth, the craze seen at the time was lacking. However, if whales’ interest in any symbol increases, other market participants tend to follow and similar action is expected to follow soon.

Whale accumulations and transfers had a huge impact on the overall market as market participants became either optimistic or pessimistic. While the surge in BTC and ETH prices has taken center stage, whales are slowly increasing their activity in the artificial intelligence sector. Data from Santiment indicates that they are currently more interested in Render.

The chart above shows a significant increase in Render transaction volume over the last few days. This also had a positive impact on the RNDR price, which rose from below $4 to $13.8. After reaching the highs, trading volume doubled, suggesting sharp bull and bear activity, which kept the price more or less in balance. The whale sent $4.89 million worth over $52 million as soon as the price corrected, suggesting that they appear to be bullish in the upcoming rally.

One of the main reasons for the development of the artificial intelligence sector is the profits of Nvidia, whose reported revenues of USD 26 billion increased by over 5.3%, which is above expectations. This indicates growing interest in the artificial intelligence sector, which could soon spark new growth. Therefore, with the price of Render (RNDR), other tokens can also gain huge momentum and start a new rally soon.