$ONDO has been struggling lately, falling 22% over the past month, even as $BTC has shown strong performance. This decline is notable, especially considering the whale activity around $ONDO. Back in March, a major whale holding a significant 17.28 million USD worth of $ONDO began scaling back their position. Between […]

$ONDO Faces Rough Waters As Whale Reduces Position

$ONDO has been struggling lately, falling 22% over the past month, even as $BTC has shown strong performance.

This decline is notable, especially considering the whale activity around $ONDO.

Back in March, a major whale holding a significant 17.28 million USD worth of $ONDO began scaling back their position. Between March 26 and March 28, the whale withdrew 18.57 million $ONDO at an average price of $0.9817.

Over the next five months, the whale continued to trim their holdings, with the most recent move being a deposit of 2.64 million $ONDOworth approximately 2.45 million USDinto Bybit just yesterday.

This Whale Still Holds 9.2 Million $ONDO

At present, this whale maintains 9.25 million $ONDO, valued at about 8.6 million USD, spread across four different addresses. This position reflects a cumulative floating loss of around 440,000 USD.

In a separate move, Wallet 0x092, potentially linked to either an investor or the project itself, transferred 5.97 million $ONDO, worth $5.31 million, to Coinbase at a price of $0.89. This transfer marks the first activity on this wallet in two years, highlighting a significant shift in strategy or market sentiment.

The recent movements indicate a cautious or strategic repositioning by major stakeholders in the $ONDO market, reflecting broader uncertainties and adjustments within the ecosystem.

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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