Ondo Finance transfers 150 million tokens, traders monitor closely

ONDO still faces downward pressure after failing to break the 0.39 USD level, while a transfer of 150 million tokens by the team drew more market attention.

This development occurred as the ONDO price retreated to 0.3107 USD, and spot and derivatives data indicate trading activity remains despite the technical trend not improving.

MAIN CONTENT

• The ONDO team transferred 150 million tokens, worth 49.56 million USD, to a new address.
• Spot capital flow shows outflows slightly exceeding inflows over the past 7 days, with Netflows at -115,000 USD.
• ONDO remains in a downtrend channel; the 0.36 USD zone is a key level to regain to improve the price structure.

The ONDO team just transferred 150 million tokens

Ondo Finance's team transferred 150 million ONDO, valued at 49.56 million USD, from a multisig wallet to a new address. This is the largest notable transaction amid ONDO's weakening price.

Previous transfers had similar patterns, and tokens were often moved to Coinbase afterward. Therefore, the market is watching whether this new batch of ONDO will continue to flow into exchanges.

If tokens are deposited onto exchanges while the price trend remains weak, short-term supply could add pressure on ONDO. It’s still unclear how all these tokens will be handled.

Spot activity shows demand is still present

ONDO recorded negative Netflows in the spot market over the past 7 days. This indicates that tokens are leaving exchanges faster than they are entering.

Specifically, over 80 million USD worth of ONDO has flowed out of exchanges during this period, while inflows are also around 80 million USD. As a result, Netflows are only at -115,000 USD, showing supply and demand are quite balanced.

Negative Netflows are often seen as a sign that tokens are being withdrawn from exchanges rather than being sold immediately. However, this is not yet a strong enough signal to reverse the price trend.

Derivative activity has increased in recent days

Perps Volume of ONDO increased from 29 million USD to 77 million USD over three days, indicating heightened speculative trading activity.

This increase reflects traders are still engaging in the market even though the price has not clearly recovered. In other words, interest in ONDO has not disappeared.

When both spot and derivative data maintain active trading, the market usually has better liquidity. However, high liquidity does not necessarily mean the price will soon turn upward.

ONDO’s price structure still leans toward a downtrend

ONDO remains within a downtrend channel after a failed breakout around 0.39 USD. The 0.3107 USD level shows the price has continued to form lower lows.

The ADX-DI indicators still suggest the downward momentum dominates, while the buying strength is not yet enough to change the market structure. If this persists, the 0.30 USD support zone could be tested again.

In a more negative scenario, ONDO could retreat to 0.27 USD. Conversely, regaining and closing above 0.36 USD would be a more positive signal for the short-term trend.

Summary

ONDO is caught between two opposing forces: on one side, pressure from the team’s token transfers, and on the other, ongoing demand in spot and derivatives markets. However, the current price structure still favors a decline until the 0.36 USD level is reclaimed.

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