Binance and Coinbase Supported Altcoin Team Continues to Dump Its Own Altcoin! "64 Million Dollars of Sales Made!"

While there has been activity in Bitcoin and altcoins in recent hours, ONDO, which is listed on Binance and Coinbase, is under pressure due to sales.

According to Spot on Chain's post, the Ondo Finance team made new sales. While these sales caused the ONDO price to fall, it started to recover in recent hours due to the rise in BTC.

Accordingly, the Ondo Finance team deposited 12 million ONDO, worth approximately $2.58 million, into Bybit during the day.

While these sales started 7 days ago, a total of approximately 64 million dollars worth of ONDO was transferred to the stock exchanges and these transfers brought a decrease.

“Ondo Finance Multi-Signature Wallet deposited 12 million ONDO ($2.58 million) to Bybit about 1 hour ago.

After the price rose 7 days ago, 253 million ONDO ($64.3 million) was deposited to CEX by 4 multisig-affiliated wallets at an average level of ~$0.254.

These transfers usually occurred before the price drop.

3 out of 4 wallets still have 135.9 million ONDO (worth $28.9 million).”

ONDO, which dropped to $0.20 due to sales, continues to be traded at $0.22 at the time of writing.

Another wallet that received tokens from the @OndoFinance multisig deposited 12M $ONDO ($2.58M) to #Bybit ~1 hour ago.

After the price rose 7 days ago, 253M $ONDO ($64.3M) have been deposited to CEX by 4 wallets linked to the project multisig at ~$0.254 on avg, often ahead of a… https://t.co/CIB5QQBCpY pic.twitter.com/H55JUUHs4h

— Spot On Chain (@spotonchain) January 26, 2024

*This is not investment advice.