Whales are devouring high-profile crypto projects focused on tokenizing real-world assets (RWA).
Crypto tracker Lookonchain Note One such whale withdrew 6.53 million ONDO, the native token of Ondo Finance, from cryptocurrency exchange Bybit last month.
The treasure is worth more than $6 million.
Ondo Finance aims to provide institutional-grade financial products and services over public blockchains by tokenizing RWA and developing financial protocols that integrate those tokens.
Lookonchain also notes that another whale withdrew 1.98 million ONDO, worth approximately $1.83 million, from cryptocurrency exchange Gate.io over an hour on Sunday.
Hours earlier, a third whale also withdrew 937,600 ONDO worth $864,867 from Gate.io, according to blockchain trackers.
At the time of writing, ONDO is trading at $0.922. The crypto asset, which ranks 91st by market capitalization, is up more than 8% in the past 24 hours and nearly 124% over the past week. The token hit a new all-time high of $0.9702 early Monday morning, according to CoinGecko.
Lookonchain also points out that the whale deposited 11,275 Ethereum (ETH) worth $37.4 million on top crypto exchange Binance over the weekend, with a loss of about $500,000. The whale then made a move to buy back the second-largest cryptocurrency after the price rose.
I will explain blockchain tracker,
“As the price of ETH increased, he withdrew 9,092 ETH ($31.7 million) from Binance and borrowed 18 million USDT to buy more ETH.”
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me twitterFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
