Whale Activity Surges Ahead of $ONDO Vesting Event

A major whale, identified as wallet 0x4d1, made a significant move just 11 hours ago by depositing 6.66 million $ONDO tokens—valued at $7.74 million—into Coinbase Prime.

The transaction occurred at a token price of $1.16, sparking speculation among market watchers.

Source of Funds: Direct Transfer from Gnosis Safe 

What adds intrigue to the transaction is the source of the tokens. All 6.66 million $ONDO came from Gnosis Safe wallet 0x524, which itself received a massive allocation of 400 million ONDO directly from the Ondo project just 19 hours prior. This direct link has fueled speculation about the whale’s intentions and timing.

Tied to Upcoming Vesting Event

This movement appears to be connected to the highly anticipated $ONDO vesting event scheduled for January 18, 2025. The event will release 1.4 billion ONDO tokens, covering allocations for Private Sales, Protocol Development, and Ecosystem Growth. Such events often bring heightened market activity, and this whale’s actions may signal preparations for volatility.

Implications for the Market

Large-scale transactions like this often generate ripples across the crypto market, particularly when they align with significant milestones like vesting events. Traders and investors are now closely monitoring $ONDO for potential price shifts as January 18 approaches.

This bold move by whale 0x4d1 highlights the importance of staying vigilant in the crypto space, where timing and strategy can significantly impact outcomes.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: andranik2018 / 123RF  // Image Effects by  Colorcinch