Whales are gobbling up a red-hot crypto challenge 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 trade Bybit over the previous month.
That trove is price greater than $6 million.
Ondo Finance goals to offer institutional-grade monetary services and products through a public blockchain by tokenizing RWAs and growing monetary protocols that combine these tokens.
Lookonchain additionally notes {that a} totally different whale withdrew 1.98 million ONDO price practically $1.83 million from the crypto trade 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, based on 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% previously 24 hours and practically 124% previously week. The token additionally set a brand new all-time excessive of $0.9702 early Monday morning, based on CoinGecko.
Lookonchain additionally notes {that a} whale deposited 11,275 Ethereum (ETH) price $37.4 million to the highest crypto trade 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 worth 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.”
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Examine Worth Motion
Observe us on Twitter, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any loses you could incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney
