In a significant action in the crypto world, a whale has moved 5.82 million $ONDO tokens—worth a staggering $7.3 million—onto Coinbase, which is the largest crypto exchange in the world.
This was noted by the on-chain analyst Onchain Lens, who shared the finding on the social media platform X. As is so often the case when a crypto whale takes a big action, this one has sparked a lot of speculation. Is the whale about to dump $ONDO on the market, which would obviously cause the price to go down? Or is the whale’s action something else entirely?
Whale’s Profitable Move
A whale’s recent decision to deposit a whopping $5 million plus into Coinbase serves as an attention-grabber on a couple of different levels. First, it highlights an intrinsic and potentially growing interest in the $ONDO token. After all, it would be one thing for an investor in $ONDO to place $5 million in the “savings account” that is Coinbase, but it’s another reality entirely for a whale to make that kind of move with that amount of token in question.
Whale deposits $7.3M worth of $ONDO into Coinbase
On-chain analyst Onchain Lens reported on X that an anonymous whale deposited 5.82 million ONDO ($7.3 million) into Coinbase Exchange. The whale had accumulated these tokens between March 26 and Oct. 4 last year for $5.04…
— CoinNess Global (@CoinnessGL) February 17, 2025
I mean, really, when you think about it, you are not seeing that happen with many other tokens on the market today. Also, while we’re here on the surface, note the timing of this deposit. Could the whale be getting ready to take profits?
$ONDO Shows Potential for a Rebound
The situation is getting a more bullish take from analyst Ali Martinez, who now sees $ONDO as potentially poised for a rebound. “The TD Sequential indicator on the 4-hour chart for $ONDO is currently flashing a buy signal,” he said, speaking in the current tense, as if embodying an independent analyst. The indicator, of course, is not an independent voice, but a popular (and somewhat mysterious) technical analysis tool that traders use to identify possible trend reversals. Martinez is saying he sees a price rally for $ONDO in the short-term as possible, particularly if upward momentum is evident in the immediately succeeding hours and days.
$ONDO looks ready to rebound, as the TD Sequential indicator flashes a buy signal on the 4-hour chart! pic.twitter.com/PLRcXDWB1m
— Ali (@ali_charts) February 16, 2025
This favorable technical sign has prompted a number of people to guess that the whale’s deposit might be a sign that demand for $ONDO is about to go up in a big way. If other traders and investors parallel the whale and start to accumulate $ONDO, we could see an uptick in trading volume and, potentially, an increase in the price of the token. Also, the whale’s hefty deposit might attract the attention of larger institutional players who watch the moves of significant investors on exchanges like Coinbase.
Market Sentiment and Investor Behavior
Movement of large amounts of cryptocurrency, particularly when it comes to deposits and withdrawals, tends to reflect the kind of broad market sentiment that you see with natural persons (“people”) or institutional investors. In the case of $ONDO, the Whale appears to have deposited 5.82 million tokens into Coinbase exchange recently. This could be interpreted in a number of productive ways. On one hand, it might suggest that the Whale is getting set to take some profits by selling a portion of that which he holds on the exchange. On the other hand, this is a lot of tokens to just have sitting in an exchange when you consider trading volume. So the Whale could actually be positioning for a big move in the opposite direction.
For investors who are closely tracking $ONDO, it is not enough to just watch the whale. One must also take into account the broader market context. The crypto market is notoriously volatile. While it is always nice to have positive technical indicators—like the TD Sequential buy signal—that one can point to as the basis for expecting an asset to move up, it is also prudent to consider what else might be bubbling under the surface of the crypto space. The direction of $ONDO’s price could be affected by registration developments, by macroeconomic trends, or by shifts in the sentiment of professional and retail investors, among what seem to be a rapidly dwindling number of both.
What’s Next for $ONDO?
Although retail traders and large investors are now paying attention to $ONDO, it is still uncertain whether the token will maintain its current momentum or reverse course. A deposit from a whale into Coinbase and some bullish technical signals suggest that $ONDO might be poised for price appreciation. Yet, it’s worth remembering that the crypto market can and does move quickly, and large price moves usually happen in tandem with some sort of event or piece of news. Always be cautious when trading, especially in an asset that is as volatile as $ONDO.
Over the next few days, $ONDO’s price action is likely to be closely followed by traders and investors. They will be looking to see if the TD Sequential indicator buy signal will translate into a meaningful uptick in price. Another thing to keep an eye on: any large movements by whales, like additional deposits or withdrawals, which could also serve as a fine-tuning signal for prospective $ONDO traders and investors.
Whales and technical indicators can always provide useful insights, but the crypto market is still a wild card. Investors in $ONDO need to be prepared for and accept the volatility that the asset class can throw at them, as well as consider with great care what investment strategy related to $ONDO serves their needs best.
Conclusion
A prominent whale has deposited 5.82 million $ONDO tokens into Coinbase, a move that has elicited considerable interest from the crypto community, especially when you consider the whale’s unrealized profits. Recent price signals from $ONDO have led some analysts to believe a potential rebound in the token’s price is underway. The crypto market’s volatility, however, necessitates caution. Large price-moving investors often trail-blaze market trends, but their actions shouldn’t be read as gospel when it comes to making profitable trades. At the moment, all eyes are on $ONDO to see if it can turn a series of recent bullish signals into a meaningful price rally.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/whale-deposits-7-3-million-worth-of-ondo-into-coinbase-is-a-rebound-on-the-horizon/