Large Investors Gathering Hot Real-World Asset-Focused Altcoin From Crypto Platforms: Insights from Lookonchain
Whales have been actively acquiring a high-performing crypto project focused on tokenizing real-world assets (RWAs).
According to crypto tracker Lookonchain, one whale withdrew 6.53 million ONDO, the native token of Ondo Finance, worth over $6 million, from Bybit in the past month. Ondo Finance aims to offer institutional-grade financial services through blockchain by tokenizing RWAs and creating financial protocols. Another whale withdrew 1.98 million ONDO worth nearly $1.83 million from Gate.io within an hour, followed by a third whale withdrawing 937,600 ONDO worth $864,867 from the same exchange.
ONDO is currently trading at $0.922, with a notable 8% increase in the past 24 hours and a significant 124% surge in the past week, reaching a new all-time high of $0.9702. Additionally, Lookonchain reported a whale depositing 11,275 Ethereum (ETH) worth $37.4 million on Binance, incurring a loss of around $500,000 but subsequently re-entering the ETH market after its price rose.
Clever Robot News Desk 27th March 2024
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