In a recent surge of whale activity, major cryptocurrency holders have been involved in significant transactions with ONDO and JASMY tokens following their recent listing on top exchanges. Notable movements have been detected on platforms such as Bybit and Coinbase, indicating potential profit-taking and strategic asset repositioning.
After the listing of ONDO on Upbit, two whales deposited a total of 2.95 million ONDO tokens, valued at around $3.86 million, into Bybit. Market experts view this action as a strategic move to capitalize on the positive market reaction to the listing.
The first whale, known by the address 0x440, sold off 1.95 million ONDO tokens worth approximately $2.55 million, resulting in an estimated profit of $1.94 million, representing a 42% increase. The second whale, 0xa87, offloaded 1 million ONDO tokens valued at $1.31 million, with profits amounting to $808,000, reflecting a 45% gain. This whale still retains 1 million ONDO tokens, maintaining a significant stake in the asset.
A substantial withdrawal on Coinbase has shed light on the whale’s strategy. Around 14 hours ago, a transaction, potentially linked to a prominent account like eToro, involved the withdrawal of 1.5 million ONDO tokens and 120 million JASMY tokens from Coinbase, valued at approximately $1.93 million and $4.31 million, respectively. Currently, this entity holds about 3.8 million ONDO tokens, equivalent to roughly $5 million.
Further examination of the whale’s crypto portfolio reveals that Ethereum (ETH) is the largest asset at around $42 million, followed by Fetch.ai (FET) and Shiba Inu (SHIB) at approximately $35.83 million and $21.68 million, respectively.