Whales Stock Up Tokens from Real-World Asset Crypto Project
Large investors are acquiring significant amounts of tokens from a prominent crypto project focused on real-world asset tokenization.
According to crypto tracker Lookonchain, one whale withdrew 6.53 million ONDO tokens, valued at over $6 million, from Bybit exchange in the past month.
Whales are accumulating #RWA token $ONDO!
Whale"0x56F9" withdrew 6.53M $ONDO($5.88M) from #Bybit in the past month.
Fresh wallet"0x92dD" withdrew 1.98M $ONDO($1.78M) from #Gateio in the past hour.
Wallet"0xE6bf" withdrew 937,600 $ONDO($845K) from #Gateio 3 hours ago.
Address:… pic.twitter.com/o5jWqhresp
— Lookonchain (@lookonchain) March 25, 2024
Ondo Finance aims to offer institutional-grade financial services by tokenizing real-world assets on a public blockchain and developing corresponding financial protocols.
Another whale withdrew 1.98 million ONDO tokens, worth nearly $1.83 million, from Gate.io within an hour on Sunday. A third whale withdrew 937,600 ONDO tokens, valued at $864,867, from Gate.io shortly before that.
The ONDO token is currently trading at $0.922, up over 8% in the last 24 hours and nearly 124% in the past week, reaching a new all-time high of $0.9702.
READ MORE: Three Altcoins Surge After Their Companies Start Talks About Merging
Additionally, Lookonchain reports that a whale deposited 11,275 Ethereum (ETH) worth $37.4 million on Binance over the weekend, incurring a loss of approximately $500,000.
Subsequently, the whale withdrew 9,092 ETH ($31.7 million) from Binance and borrowed 18 million USDT to purchase more ETH as its price increased.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
