After the recent listing of ONDO on Upbit, GSR Markets has been observed reducing its holdings, transferring 3.5 million ONDO tokens, worth approximately $4.27 million, to Bybit over the past day. GSR has been steadily building a position of 9 million ONDO tokens since February, with an average acquisition cost […]

GSR Markets Capitalizes On ONDO Holdings Post Upbit Listing

After the recent listing of ONDO on Upbit, GSR Markets has been observed reducing its holdings, transferring 3.5 million ONDO tokens, worth approximately $4.27 million, to Bybit over the past day.

GSR has been steadily building a position of 9 million ONDO tokens since February, with an average acquisition cost of $0.5718 per token. Given the recharge price of $1.22, if GSR sells its entire position, it stands to make a profit of $2.26 million. Currently, GSR still holds 3.5 million ONDO tokens.

The move comes as the on-chain ecosystem increasingly recognizes the potential of tokenization.

Ondo Finance is experiencing heightened demand for its yield-generating coins.

Reflecting this growing interest, Ondos total value locked (TVL) has surged by more than 150% since March. The trend highlights significant developments in the tokenized real-world assets (RWAs) sector, an area many in the market have yet to fully appreciate.

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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