Global #ONDO

Upbit, a major cryptocurrency exchange, recently revealed a substantial holding of 255,868,438.556 ONDO tokens, valued at $304,483,441.88.

The ONDO/USDT pair has displayed a classic Head & Shoulders pattern on its 4-hour chart, raising concerns about potential bearish momentum.

Ondo (ONDO) has been on a remarkable upward trajectory, with its price climbing 14% this week and reaching a new high of $0.78. This bullish momentum is supported by a combination of positive on-chain indicators.

The recent market crash has been nothing short of catastrophic, erasing over $600 billion in value as bearish sentiment gripped investors. Despite the overall downturn, Bitcoin has managed to rise above $55,000, providing a glimmer of hope and sparking significant movements in some altcoins.

Ondo (ONDO), a cryptocurrency facilitating access to real-world assets through DeFi, has yet to recapture its all-time high of $1.25 set in May 2024. Despite positive aspects like bridging traditional finance and DeFi, ONDO's price recovery seems sluggish.

Lookonchain, an on-chain analytics platform, recently disclosed an intriguing transaction involving a crypto whale. On May 16, the whale initiated a transfer of 1,870.68 ETH from the cryptocurrency exchange Gemini to a newly created wallet.