News

Major Sell-Off And Unexpected Surge: The $ONDO Rollercoaster

On August 5th, iCrypto witnessed a significant sell volume of $1.66 million for the RWA token, $ONDO. Notably, $1.59 million of this came from the wallet 0x3737, known as “ThisWillMakeYouLoveAgain.”

This trader initially bought $ONDO in the ~$0.25 range and sold a portion as the price doubled. However, he reinvested at the peak, buying in the $1.4-$1.2 range, and has now liquidated his entire position.

Despite this volatile trading, his wallet currently shows a profit of $1.84 million, yielding a 134.73% ROI with $ONDO. However, his ventures were not all successful. He took a hit with $IQ, cutting losses on that token, and now holds $DAI and $PEPE.

About 9.256 Million $ONDO Moved By This Singular Whale

On-chain reports from OnchainDataNerd revealed that within 24 hours, four wallets belonging to a single whale deposited a total of 9.256 million $ONDO (approximately $5.43 million) to Bybit. Five months ago, this whale accumulated these tokens at an average entry price of $0.9161. If sold at current prices, the loss would be around $3.05 million.

Related Post

Interestingly, the price of $ONDO has surged by 31% today, adding another twist to this rollercoaster ride. This unexpected spike provides a glimmer of hope for traders who have been navigating these tumultuous waters. The market remains unpredictable, but for now, $ONDO holders can breathe a slight sigh of relief amid the ongoing volatility.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: jruiz1108/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

XRP Crash? XRP Falls Below $0.5 Resistance Level as Next Gen Altcoin JetBolt Takes Over

Spooky season might be over but doom is still looming as Ripple’s XRP falls below…

2 hours ago

This New Exchange Token Is Poised for a Price Surge Alongside Cardano and Avalanche – Analysts Predict Huge Gains This November

Three promising altcoins are causing a stir among investors this November: Avalanche (AVAX), Cardano (ADA),…

3 hours ago

With Dogecoin Dipping and TRON Holding, Is Lunex the Hottest Crypto Now?  

Everyone knows what the hottest crypto can do. When it was so hot it was…

3 hours ago

Tron Fees To Be Cut In Half Through Proposal 95, Cutoshi Surpasses $600k As TRX Investors Join CUTO Presale

The Tron network has witnessed incredible growth in several areas, especially in its adoption, which…

4 hours ago

$Pepe Whale Sell-Off And Fund Transfers Stir Volatility In Meme Coin Market

Recently, major $PEPE holder Flow Traders transferred 520 billion $PEPE tokens—worth approximately $4.73 million—from address…

13 hours ago

Lido Finance Launches Community Staking Module As Whale Sells Off $LDO At A Loss

Earlier this week, Lido Finance ($LDO) introduced the Community Staking Module (CSM) on the Ethereum…

13 hours ago