Ondo Finance Powers BlackRock’s Ambitious Tokenization Goal

According to rwa.xyz, Ondo Finance now contributes over 34.5% to BlackRock’s $BUIDL fund through its USDY and OUSG tokens, aiming to achieve its $27 trillion goal of tokenizing the entire US Treasury market.

Just an hour ago, a whale identified by wallet address 0xa555 withdrew 1.24 million ONDO tokens, valued at $1.2 million, from KuCoin. This substantial amount was then transferred to wallet 0x95a5. Notably, this pattern of behavior was observed on May 3 and June 19 as well.

Additionally, wallet 0x95a5 has previously deposited ONDO tokens back into KuCoin twice. If the whale decided to sell on May 11, they would have incurred an estimated loss of $21.77K (2.4%). Similarly, if sold on July 3, the estimated loss would have been $129.21K (6.93%).

Another Notable Whale Deposits 8.6 Million ONDO Tokens To Bybit

Onchain data from @onchaindatanerd reveals that another whale, identified by wallet 0x3D2, deposited 8.6 million ONDO tokens, worth $7.93 million, to Bybit. This whale had accumulated these tokens three months ago at an average price of $0.60 per token. If sold at the current price, this whale stands to earn a profit of $2.84 million.

These substantial movements in ONDO tokens underscore the growing confidence and strategic maneuvers of large holders within the market. Ondo Finance’s significant contribution to BlackRock’s fund highlights the potential of tokenizing traditional financial assets and the increasing integration of blockchain technology within mainstream finance.

As Ondo Finance continues to play a crucial role in this ambitious tokenization goal, the movements of major token holders will likely continue to attract attention and potentially influence market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any move-to-earn crypto coins.

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