Crypto News

$ONDO Trades At Critical Level As Whale and Institutional Activity Intensify

$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.

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.

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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