The digital asset landscape is seeing interesting developments as whales turn their attention to potential altcoins that could deliver massive profits. Recently Ondo Finance (ONDO) captured big investors’ interest.
World Liberty Financial acquires ONDO
According to data shared by SpotOnchain today, World Liberty Financial, a crypto DeFi owned by US President Trump, spent $470,000 USDC to buy 342,000 ONDO. The whale purchased the tokens at an average price of 1.37 for each coin. Data showed ONDO has been down 15% in the past seven days, currently trading at $1.36.
It seems the whale took advantage of the current market dips to acquire such massive amounts of tokens. This buying activity signals big crypto holders are showing interest in the asset, believing in its growth potential.
Its price declines appear attracting users and money. Whales seem to be buying amid the recent market decreases, suggesting renewed optimism in the token’s long-term value.
This aggressive acquisition shows whales see value in the current prices despite the token’s struggles. If big investors continue purchasing, they could create essential support for a possible recovery in the upcoming weeks.
Recent data from Santiment showed the number of wallet addresses holding more than 1,000,000 ONDO has been sharply rising since Jan.12, increasing from 180 to 186 between Jan.31 and Feb.3.
Such acquisitions, amid market decreases, suggest whales remain enthusiastic about ONDO’s long-term potential. Despite the downtrend, continued purchasing activity from big investors could create a potential change in sentiment.
ONDO price updates
The broader digital asset market is currently experiencing downside momentum, with Bitcoin price dropped, currently trading at a low of $96,405. Ethereum also saw a decline of 1.5%, currently hovering around $2,698.
While the wider market continues to move in a correction trend, traders and investors are capitalizing on this to accumulate altcoins that have outperformed. Ondo has become a target. For the past year, it has experienced a price rise of 482.2%.
Its price indicated little movement over the past 24 hours. It has been moving in a prolonged corrective wave since Dec.16 when it saw a record high of $2.13. However, in the past two days, the altcoin started indicating some price recovery. This shows purchasing frenzy has returned after the token experienced strong selling pressure in the recent past.
ONDO price movements show a potential price rise soon, backed by its commitment to continue building its ecosystem. This could bolster prices as more users are attracted to its applications and potential.
On Feb.6, Ondo Finance launched a new L1 protocol, called Ondo Chain, to heighten institutional adoption of RWAs. The launch intends to create a seamless connection between traditional financial markets with DeFi by providing regulatory-compliant infrastructure. Since ONDO is one of the largest RWA players in the market, it has experienced robust interest from both institutional and retail investors.
