Ondo Finance shifts 150mln tokens – Here’s why traders are watching!

Ondo [$ONDO] continued trading inside a descending channel after its failed breakout near $0.39.

Since then, the altcoin has printed lower lows, falling to $0.3107. Even so, the Ondo Finance team carried out another monthly token transfer, drawing fresh attention from traders.

Why are traders watching these transfers?

According to Arkham data, the team’s multisig wallet transferred 150 million $ONDO tokens to a new address. The transfer was valued at $49.56 million.

Previous transfers followed a similar pattern. Once moved, the tokens eventually landed on Coinbase.

Over recent weeks, the team has also deposited large $ONDO batches into exchanges. A week ago, for example, the team’s wallet deposited 46.06 million tokens worth $16.78 million.

Those deposits came from an earlier transfer. As a result, traders may view the latest movement as a sign of possible future exchange inflows.

If these tokens reach exchanges while the altcoin remains weak, the added supply could weigh on price action.

Are investors still buying $ONDO?

Even so, demand has remained relatively strong. On the Spot market, $ONDO recorded negative Netflows over the past seven days.

More than $80 million worth of $ONDO flowed out of exchanges during this period. Although inflows also reached $80 million, outflows slightly exceeded them. This resulted in Netflows of -$115,000.

Negative Netflows usually suggest investors are moving tokens away from exchanges. That can point to accumulation rather than immediate sell pressure.

On top of that, speculative activity also increased.

According to DefiLlama data, Perps Volume rose from $29 million to $77 million over three days.

The rise suggested traders remained active despite the altcoin’s weak price action.

Together, Netflows and Perps Volume showed that interest in $ONDO had not disappeared.

Can the trend reverse?

Despite stronger participation, $ONDO continued trading inside a descending channel. That kept the broader market structure weak.

In fact, the ADX-DI indicators showed strong downside momentum, while upside momentum remained subdued.

This suggested sellers still controlled the trend.

If current conditions persist, the altcoin could lose the $0.30 support and drop toward $0.27. However, sustained demand could help stabilize price action.

For a stronger recovery, $ONDO must reclaim and close above $0.36. This level previously acted as support.

Final Summary

• The Ondo Finance team transferred 150 million $ONDO worth $49.56 million.
• The altcoin needs a close above $0.36 to improve its setup.