Whales are gobbling up a red-hot crypto undertaking that’s centered on tokenizing real-world property (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 value greater than $6 million.
Ondo Finance goals to supply institutional-grade monetary services by way of a public blockchain by tokenizing RWAs and creating monetary protocols that combine these tokens.
Lookonchain additionally notes {that a} completely different whale withdrew 1.98 million ONDO value 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 value $864,867 from Gate.io a number of hours earlier than that, in response to 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% up to now 24 hours and practically 124% up to now week. The token additionally set a brand new all-time excessive of $0.9702 early Monday morning, in response to CoinGecko.
Lookonchain additionally notes {that a} whale deposited 11,275 Ethereum (ETH) value $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 value 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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