A recent whale activity has raised speculation across the crypto community. As per SpotOnChain, a crypto whale has dumped $BEAM and $PEPE tokens to purchase $ONDO. Nonetheless, in this crypto offloading for $ONDO, the whale has reportedly incurred a significant loss of $14M.
The respective whale activity has reportedly unfolded in the recent seventeen hours. The prominent on-chain analytics provider considers this move the onset of crucial market developments.
Spot On Chain has identified the crypto whale as “0x655” which liquidated crypto holdings in $BEAM and $PEPE tokens. The purpose of these liquidations was to buy $ONDO tokens. However, the whale has experienced a staggering loss of up to $14M during this activity.
The whale offloaded nearly 261.6M $BEAM tokens for $DAI valued at $2.13M. This offloading led to a massive loss of $7.13M (-77%). On the other hand, the whale sold 531.7B $PEPE tokens for $DAI valued at $4.1M. This move resulted in a 63% loss, equaling $6.9M in value. Irrespective of these enormous losses, the whale rapidly invested the retrieved amount in $ONDO.
In this respect, the whale bought 5.35M $ONDO tokens for almost $6.26M $DAO. This $ONDO purchase holds a great importance in terms of timing, raising notable speculation. $ONDO is a noteworthy token in the World Liberty Financial portfolio of U.S. President Donald Trump.
According to SpotOnChain, Trump has recently announced the inclusion of $ADA, $XRP, $SOL, $ETH, $BTC, and other viable crypto assets in the US Crypto Reserve. Hence, the latest $ONDO investment by the whale might be a strategic move keeping in view $ONDO’s potential inclusion in the reserve. Meanwhile, the market onlookers keep watching for likely signals of a noteworthy market shift concerning $ONDO.
Go to Source
Author: NixCoin
Key Highlights Tether CEO Paolo Ardoino denied that the company is building or planning to…
Key Highlights Bitget is restricting transactions linked to 16 crypto platforms and entities, including HTX…
Key Highlights BitGo held the largest share of real-world asset issuer TVL at 27.5%, with…
Key Highlights Kalshi accuses Nevada’s gaming regulator of breaking federal law over $120,000 in daily…
Key Highlights Solana co-founder Anatoly Yakovenko suggested that temporarily increasing SOL issuance could be more…
Key Highlights SOL is now live on the XRP Ledger, giving users access to Solana’s…
This website uses cookies.
Read More