Ondo Finance shifts 150mln tokens – Heres why traders are watching!
Ondo [$ONDO] continued trading inside a descending channel after its failed breakout near $0.39. Since then, the altcoin has printed lower lows, falling to $0.3107. Even so, the Ondo Finance team carried out another monthly token transfer, drawing fresh attention from traders. Why are traders watching these transfers? According to Arkham data, the teams multisig wallet transferred 150 million $ONDO tokens to a new address. The transfer was valued at $49.56 million. Source: Arkham Previous transfers followed a similar pattern. Once moved, the tokens eventually landed on Coinbase. Over recent weeks, the team has also deposited large $ONDO batches into exchanges. A week ago, for example, the teams wallet deposited 46.06 million tokens worth $16.78 million. Those deposits came from an earlier transfer. As a result, traders may view the latest movement as a sign of possible future exchange inflows. If these tokens reach exchanges while the altcoin remains weak, the added supply could weigh on price action. Are investors still buying $ONDO? Even so, demand has remained relatively strong. On the Spot market, $ONDO recorded negative Netflows over the past seven days. Source: CoinGlass More than $80 million worth of $ONDO flowed out of exchanges during this period. Although inflows also reached $80 million, outflows slightly exceeded them. This resulted in









