ONDO Hit by Fresh Coinbase Supply as Exchange Outflows Offer Relief

ONDO's price has come under renewed pressure following a recent Coinbase supply of $1.4 million from a team-linked wallet.

The transfer, which occurred on August 9th, added to the asset's exchange supply and raised concerns about potential selling pressure.

However, broader market flows suggest that the impact may be limited, with exchange withdrawals continuing to offset incoming supply.

In fact, spot netflows reached approximately -$1.09 million on the same day as the Coinbase deposit, indicating that withdrawals exceeded exchange inflows during that session.