Whales are gobbling up a red-hot crypto mission that’s targeted on tokenizing real-world belongings (RWAs).
The crypto tracker Lookonchain notes that one whale withdrew 6.53 million ONDO, the native token of Ondo Finance, from the crypto alternate Bybit over the previous month.
That trove is price greater than $6 million.
Ondo Finance aims to offer institutional-grade monetary services and products by way of a public blockchain by tokenizing RWAs and growing monetary protocols that combine these tokens.
Lookonchain additionally notes {that a} completely different whale withdrew 1.98 million ONDO price practically $1.83 million from the crypto alternate Gate.io over a one-hour interval on Sunday.
A 3rd whale additionally withdrew 937,600 ONDO price $864,867 from Gate.io a number of hours earlier than that, in keeping with the blockchain tracker.
ONDO is buying and selling at $0.922 at time of writing. The 91st-ranked crypto asset by market cap is up greater than 8% prior to now 24 hours and practically 124% prior to now week. The token additionally set a brand new all-time excessive of $0.9702 early Monday morning, in keeping with CoinGecko.
Lookonchain additionally notes {that a} whale deposited 11,275 Ethereum (ETH) price $37.4 million to the highest crypto alternate Binance at a lack of roughly $500,000 over the weekend. The whale then made strikes to purchase again into the second-ranked crypto asset after its value went up.
Explains the blockchain tracker,
“As the worth of ETH elevated, he withdrew 9,092 ETH ($31.7 million) from Binance… and borrowed 18 million USDT to purchase extra ETH.”
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