$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 $ONDO—worth approximately 2.45 million USD—into Bybit just yesterday.

今年三月重仓 1728 万美金 $ONDO 的巨鲸时隔一个月再次减仓

03.26 – 03.28 期间他以均价 $0.9817 提出了 1857 万枚 ONDO，在随后五个月内分批减仓，最近一次是两小时前向 #Bybit 充值 264 万枚，约 245 万美金

目前仍持有 925 万枚代币，总价值 860 万美金，分布在四个地址中，累计浮亏 44 万美金 https://t.co/ptb3AC4N6P pic.twitter.com/ASKpxGdPrF

— Ai 姨 (@ai_9684xtpa) August 1, 2024

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.

$ONDO – One Last Dip for The RWA Giant$ONDO has been showing signs of weakness these past few weeks, even when $BTC is pumping hard.

So, im very sure we will see $ONDO go lower.

There's an unfilled FVG at around $0.79, its a no-brainer if u can buy at that price. pic.twitter.com/QEbQ7CYn8d

— Crypto Anbu (@CryptoAnbu_) August 1, 2024

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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