On-chain analyst ai_9684xtpa flagged a transfer of 150 million ONDO tokens (worth approximately $49.56 million) from an Ondo Finance team multisig wallet to an anonymous address about eight hours before the alert. The receiving address has been a monthly destination for large ONDO transfers, accumulating 425 million ONDO (around $147 million) since April 22. Notably, funds from two prior large transfers were later deposited to Coinbase in multiple transactions, a pattern that now fuels speculation of a potential sell-off.
While the purpose remains unconfirmed—it could be treasury management or operational funding—the historical precedent has cast a shadow over market sentiment. The ONDO token has already slipped 2.2% to around $0.306 in the past 24 hours, extending weekly losses to 16.3% and the monthly decline to 31.1%. The TVL in Ondo Yield Assets has also dipped 1.16% over the week, pointing to capital outflows.
Amid the bearish technicals, the token is clinging to a critical support zone between $0.305 and $0.315. Analysts view a sustained hold above $0.30 as pivotal for a recovery toward $0.332 and eventual resistance at $0.37. A breakdown below $0.30, however, could push prices toward the next major support at $0.26. Traders are now closely monitoring whether the transferred tokens will end up on exchanges, adding to sell pressure, and whether protocol activity stabilizes.
On the bright side, Ondo Finance continues to build its position in the tokenized real-world asset (RWA) market, which now totals $32.3 billion. The protocol’s USDY product manages $2.16 billion, and its xStocks platform has surpassed $1 billion in TVL. Recent integration with LI.FI expands access to hundreds of tokenized stocks and ETFs across Ethereum and BNB Chain. Institutional heavyweights like BlackRock, Fidelity, and J.P. Morgan are deepening their involvement, though for now, the market’s focus is firmly on the large token movement and its near-term implications.
