ONDO team-linked wallet sends 26M tokens to Coinbase – Sell-off next?
An Ondo team-associated address transferred 26.05 million $ONDO tokens to Coinbase. The tokens were worth approximately $9.79 million. Three weeks earlier, the address received 150 million tokens from a multi-signature wallet, according to Arkham data. Two weeks later, the team moved 26.39 million tokens. Of these, 26.05 million have now reached Coinbase. Source: Arkham The activity followed previous operational patterns, where transferred tokens were eventually sold. However, the latest deposit did not confirm an immediate sale. It still increased the risk of near-term selling pressure. Did the $ONDO market react? Ondo [$ONDO] had maintained strong upward momentum, reaching a local high of $0.38. However, the transfer coincided with a minor pullback to $0.36. $ONDO traded near $0.37 at press time, gaining 1.7% over 24 hours. Meanwhile, Trading Volume dropped 46%, indicating weaker market participation. Despite the pullback, $ONDOs bullish structure remained intact. Its Relative Strength Index (RSI) stood near 64. Source: TradingView The elevated reading suggested strong demand and continued buyer control. The Buy-Sell Delta supported this view, remaining positive for four consecutive days. During this period, Buy Volume reached 199.6 million, compared with 186.5 million in Sell Volume. That produced a positive delta of 13 million, indicating aggressive Spot accumulation. If these conditions persist, $ONDO could hold its 200-day EMA at $0.37. It