Whales Make Waves: ONDO Token Accumulation Reflects Growing Confidence in New Financial Infrastructure

Vision for Financial Infrastructure: Ondo is building the next generation of financial infrastructure to improve market efficiency, transparency, and accessibility.

Introducing Flux: Flux is a decentralized lending protocol designed to honor transfer restrictions from permissioned tokens in order to expand the universe of assets it can support

Surge in Whale Accumulation: This month, there has been significant whale accumulation of ONDO tokens, showing strong interest in the market. Whales now own over 80% of ONDO's circulating supply, which may lead to increased price fluctuations if they keep buying more. One major whale, known as "0x992," recently deposited 500,736 ONDO tokens (about $815,000) into Coinbase and made a profit of $294,000 from that transaction. This whale still holds around 2 million ONDO, worth about $3.22 million, showing an unrealized profit of $1.46 million. Overall, the strong whale activity reflects confidence in ONDO’s future. 

  Market Movement of ONDOUSD: ONDOUSD trades higher after a minor sell-off. Any daily close above $2 confirms further bullishness.

Recent Performance Summary: ONDOUSD gained more than 200% in the past one month. The pair holds well above the short-term (34 and 55 EMA) and below the long-term moving average (200-EMA) in the 4-hour chart. It hit a high of $1.95 and is currently trading around $1.63.

Potential Risks and Support Levels: The bullish invalidation can happen if the pair closes below $0.50. On the lower side, the near-term support is $1.25. Any break below targets 1/1/0.60/$0.50.

Resistance Levels and Buying Strategy: The immediate resistance stands at around $2. Any breach above confirms bullish continuation. A jump to $2.40/$3 is possible. A surge past $3 will take it to $4. It is good to buy on dips around $1.50 with a stop-loss around $1 for a target price of $3.