Crypto Whale Caught OnDO's Real World Token Transaction

Crypto whale activity on ONDO tokens increases. (Photo; Doc. Ondo Finance)

JAKARTA In the crypto world, the movement of large amounts of crypto owners, commonly called whales, is often in the spotlight. Recently, the crypto whale was detected as being detected as accumulating one of the real world asset tokens (RWA), namely Ondo Finance (ONDO).

Ondo Finance is a project focused on tokenization of real-world assets (RWA), managed to become the center of attention due to the activities of a number of whales around this asset. According to data from Lookonchain, one of the whales has attracted 6.53 million ONDO from the crypto exchange Bybit in the past month, with a value of more than $6 million (approximately IDR 95.1 billion).

Ondo Finance, which aims to provide financial products and services for institutions through public blockchain, has developed a financial protocol that integrates RWA tokenization. Ondo Finance is one of the prominent crypto platforms in utilizing blockchain technology to facilitate more efficient and transparent financial transactions.

In addition, Lookonchain also recorded another whale activity that attracted 1.98 million ONDO worth nearly $1.83 million (around Rp29 billion) from the Gate.io crypto exchange within one hour on Sunday. A third whale also withdrew 937,600 ONDO worth $864,8667 (around Rp13.7 billion) from Gate.io a few hours earlier.

ONDO, trading for $0.922 (approximately Rp14,600) at the time of writing, has seen an increase of more than 8% in the last 24 hours and nearly 124% in the past week. The token even recorded a new record high of $0.9702 (approximately Rp15,400) in the early hours of Monday, according to CoinGecko.

In a separate incident, Lookonchain also noted that one of the crypto whales deposited 11.275 Ethereum (ETH) worth $37.4 million (approximately IDR 592.9 billion) into Binance's top crypto exchange with a loss of around 500,000.000 (approximately IDR 7.9 billion) at the weekend. However, the whale then took a strategic step to return to buying second-ranked crypto assets after its price rose, drawing 9,092 ETH ($31.7 million or around IDR 502.3 billion) from Binance and borrowing 18 million USDT to buy more ETH.

With the increasing interest of whales or whales in RWA tokens and their ongoing activities, Ondo Finance and similar projects have the potential to become the center of public attention in the future.