$ONDO has recently lost its support and is now trading at a critical level, presenting a potentially intriguing buying opportunity, though it may still be too early to make definitive conclusions.
Nine hours ago, a whale with the address 0xBef deposited 3 million $ONDO, worth approximately $2.95 million, to Bybit.
This same whale had accumulated 18.57 million $ONDO three months ago at an average entry price of $0.92. Currently, he still holds 13.44 million $ONDO, valued at around $13.44 million, in his wallet.
9 hours ago, a whale 0xBef deposited 3M $ONDO (~$2.95M) to #Bybit.
3 months ago, he accumulated 18.57M $ONDO at avg entry $0.92.
Just now, he still has 13.44M $ONDO (~$13.44M) in his wallet.
Address:https://t.co/lCn0oazgbh pic.twitter.com/voy0UooU0i
— The Data Nerd (@OnchainDataNerd) July 6, 2024
BlackRock Sends $2 Million To ONDO Finance
Adding to the notable movements, an on-chain report revealed that BlackRock, a prominent institutional investor, sent $2 million to ONDO Finance within the past 12 hours. This significant investment from BlackRock highlights growing institutional interest and confidence in ONDO Finance, potentially impacting market sentiment positively.
Blackrock sent 2 million $ to #ONDO finance in the past 12 hours .
and if you think blackrock is buying $ONDO
you need to learn .
many of my community members already know . pic.twitter.com/J8KQn1ovZt
— LAđť•ŹMAN (@Theblockvlog) July 6, 2024
The whale’s recent deposit to Bybit and substantial remaining holdings suggest strategic positioning and potential market influence. His past accumulation at a lower average price and the timing of his deposit could indicate preparation for either market stabilization efforts or another significant trading maneuver.
While the current trading level of $ONDO may seem attractive for some investors, it remains a critical juncture where the market could either rebound or continue to decline. The combined whale and institutional activities signal that significant players are closely watching and actively participating in the $ONDO market.
Investors should keep a close eye on these developments and consider both the potential risks and rewards associated with $ONDO at this stage. The whale’s continued large holdings and BlackRock’s recent investment underscore the importance of monitoring on-chain activities and institutional moves to better understand market dynamics and potential future trends.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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