Summary
- An anonymous whale investor reportedly sold 10,978,000 Ondo Finance tokens, swapping them for 13,580,000 USDC.
- This position liquidation resulted in a loss of about 3.54 million USD, and it is noted as a sell-off before the large-scale token unlock, which remains to be seen if it was a wise decision.
- Ondo Finance is scheduled to unlock approximately 1.94 billion ONDO on the 18th, which corresponds to 134.21% of the current circulating supply.
An anonymous whale has reportedly sold 10.97 million Ondo Finance (ONDO).
On the 16th (local time), blockchain analytics firm Spot On Chain announced on X that "an anonymous whale swapped 10,978,000 ONDO for 13,580,000 USDC (approximately 19.8 billion KRW) over the past 12 hours," adding that "the position liquidation resulted in a loss of about 3.54 million USD (approximately 5.1 billion KRW)." They further stated, "The whale intended to sell all ONDO before the large-scale token unlock of Ondo Finance, and whether this was a wise decision remains to be seen."
Meanwhile, according to Tokenomist, 1.94 billion ONDO is scheduled to be unlocked at 9 AM on the 18th (KST). This amounts to approximately 2.42 billion USD (about 3.569 trillion KRW), which is 134.21% of the current ONDO circulating supply.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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