According to Onchain Data, In This Altcoin, Developers Are Moving Large Amounts of Altcoins to Exchanges

According to cryptocurrency onchain data, the development team of an altcoin transferred a large amount of tokens to the cryptocurrency exchange Coinbase.

According to data provided by SpotOnChain, two cryptocurrency wallets associated with Ondo Finance (ONDO) today transferred 13.83 million ONDO tokens worth $12.2 million to Coinbase Prime.

These wallets obtained 49.41 million ONDO tokens worth $35.4 million each from Ondo Finance’s multisig wallet 0x677 on September 24, 2024. At that time, the ONDO price was $0.717.

The crypto wallets in question have deposited a total of 69.17 million ONDO tokens worth $74.9 million to the same Coinbase deposit address since February 5, 2025. The average token price of these deposits was $1.08.

Currently, these addresses currently hold $244 million in assets, including $34.8 million worth of ONDO tokens in each, across seven different cryptocurrency wallets.

At the time of writing, ONDO is trading at $0.918. So if these developer wallets used these transfers for sales purposes, it seems like they implemented the right strategy.

*This is not investment advice.