|
Getting your Trinity Audio player ready...
|
Two wallets linked to Ondo Finance have recently transferred 13.83 million ONDO tokens, worth approximately $12.2 million, to Coinbase Prime. These wallets belong to a group of seven that initially received 49.41 million ONDO ($35.4 million each) from Ondo Finance’s multi-signature address on September 24, 2024. Since February 5, 2025, these wallets have deposited a total of 69.17 million ONDO ($74.9 million) into Coinbase Prime.
Two wallets linked to @OndoFinance deposited 13.83M $ONDO ($12.2M) to #CoinbasePrime 4 hours ago.
— Spot On Chain (@spotonchain) March 25, 2025
🔹 These wallets are part of the seven that received 49.41M $ONDO ($35.4M) each from Ondo Finance's multi-sig 0x677 on Sept 24, 2024, when the price was $0.717.
🔹 Since Feb 5,… pic.twitter.com/ZBObl8TtmN
Tracking ONDO Transfers: Potential for More Moves
Despite these substantial transfers, the seven wallets still hold 276.7 million ONDO, valued at around $244 million. Each wallet retains 39.53 million ONDO ($34.8 million), highlighting a strategic approach to asset management. Notably, these transactions have averaged a selling price of $1.083 per token—significantly higher than the $0.717 price when the allocations were received.
The controlled release of ONDO tokens suggests a deliberate effort to avoid drastic price drops while securing profits. If further deposits follow, it could indicate increased selling pressure, potentially influencing ONDO’s market price.
Market Impact of ONDO Sales
Large-scale ONDO sales can have a profound effect on market trends. A steady stream of deposits to Coinbase Prime may drive the token’s price lower. However, if buyers absorb the supply, ONDO could maintain its stability. With $244 million worth of ONDO still held in these wallets, any significant move could sway investor sentiment.
Crypto traders closely track whale movements to anticipate market shifts. While large deposits are often perceived as bearish, some traders view them as buying opportunities if they result in short-term price dips. The key to navigating these fluctuations lies in monitoring transaction patterns over time.
Also Read: ONDO Price Struggles Below $1: Will Consolidation or a Breakout Follow?
Stay Informed on ONDO Movements
The ONDO token’s market trajectory remains uncertain as significant holdings are still in play. Continued tracking of these wallet movements is essential for traders looking to make informed decisions. Whether this trend leads to further selling pressure or a shift toward accumulation, staying ahead of major transactions can help investors adjust their strategies in the volatile crypto landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
