Ondo Team-Linked Wallets Unload Millions onto Coinbase

Over the past 30 days, Ondo's team-associated multisig wallets have been actively selling tokens on the market. According to blockchain news, a recent transaction saw the wallets depositing 13.43 million ONDO tokens onto Coinbase, bringing the total suspected sales to $29.94 million. This move follows another transaction where two addresses moved $4.42 million worth of ONDO to Coinbase in just the last 10 hours.

The associated addresses still hold around $12.68 million in ONDO on-chain, indicating that there may be more tokens available for sale in the future. As the price of Ondo continues to trend downward, it's likely that we'll see further movement towards the lower band support at $0.32.