Crypto News

RWA Token ONDO Hits All-Time High As Whales Accumulate

The price of Real World Assets (RWA token) $ONDO has experienced a remarkable surge, with a staggering 93% increase over the past five days, coupled with a 20% spike today, propelling it to an all-time high of $0.974. 

This surge in value has captured the attention of market participants and on-chain analysts, who have observed significant movements within the ONDO ecosystem.

According to insights from Spotonchain, the Ondo Finance multisign wallet 0x677 initiated a notable transaction, depositing 49.9 million $ONDO tokens, valued at $36.38 million, into Coinbase at an average price of $0.729 on March 22. 

Subsequently, a series of transactions involving 10 fresh wallets ensued, collectively withdrawing 49.7 million $ONDO tokens, totaling $36.9 million, from Coinbase at an average price of approximately $0.743.

These transactions, occurring over the span of three days, have collectively yielded a profit of $9.93 million, representing a substantial 26.9% increase.

The sequence of transactions involving significant deposits and withdrawals from Coinbase suggests a concerted effort by whales to accumulate ONDO tokens.

This accumulation strategy aligns with the observed surge in ONDO’s price and signals growing interest and confidence in the token among large-scale investors.

Multiple ONDO Whale Withdrawals From Exchanges Shows Strong Holding Commitment

Further insights from Lookonchain highlight additional movements within the ONDO ecosystem, with notable withdrawals from prominent exchanges.

The whale address “0x56F9” withdrew 6.53 million $ONDO tokens, equivalent to $5.88 million, from Bybit over the past month, indicating a strategic positioning by a significant market participant. 

Additionally, fresh wallets “0x92dD” and “0xE6bf” executed withdrawals of 1.98 million and 937,600 $ONDO tokens, valued at $1.78 million and $845,000, respectively, from Gateio in recent hours.

These series of transactions underscore the growing momentum and investor interest surrounding ONDO tokens, as whales strategically position themselves within the ecosystem. 

As ONDO continues to achieve new price milestones, market participants remain vigilant, closely monitoring these developments for insights into potential market trends and investment opportunities within the RWA token landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: marketlan/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *