ONDO Token Soars 14% Following DTCC and Chainlink’s Fund Data Tokenization Pilot

The price of Real-world Asset (RWA) token ONDO surged nearly 14% in the past 24 hours. This spike followed the successful completion of a fund data tokenization pilot by DTCC and Chainlink, involving major U.S. banks, which has attracted significant whale investments.

A new whale investor, identified by the address 0x803, has made substantial moves in the ONDO market. In the past few hours, this whale swapped 640 ETH, worth approximately $1.94 million, for 2.048 million ONDO tokens at an average price of $0.944.

Over the past 17 hours, the whale has been actively accumulating ONDO tokens. The activity includes:

– Withdrawing 1,257 ETH from Gemini at an average price of $3,005 each, totaling an estimated cost of $3.78 million.

– Swapping 996.3 ETH for 3.275 million ONDO tokens at an average price of $0.912, costing around $2.99 million.

The Whale Still Holds 240 ETH, What’s The Next Move?

Currently, the whale still holds 240.5 ETH, valued at approximately $731,000, indicating the potential for further swaps into ONDO.

This recent whale activity underscores the growing interest and confidence in ONDO, especially following the high-profile tokenization pilot by DTCC and Chainlink. The pilot’s success demonstrates the potential of blockchain technology to revolutionize the financial industry by enabling more efficient and transparent fund data management.

As ONDO continues to attract substantial investments, its market performance will likely be closely watched by traders and analysts. The ongoing whale accumulation suggests a bullish outlook for the token, particularly if similar institutional initiatives continue to drive innovation and adoption in the blockchain space.

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: nahumam/123RF // Image Effects by Colorcinch

Via: https://themerkle.com

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