The Ondo Finance development team has transferred a substantial amount of ONDO tokens to the cryptocurrency exchange Coinbase. This transaction raises questions about the team's objectives and strategies.
Large Transfer of ONDO Tokens to Coinbase
According to SpotOnChain data, two cryptocurrency wallets associated with Ondo Finance (ONDO) transferred 13.83 million ONDO tokens worth $12.2 million to Coinbase Prime. These wallets obtained tokens from Ondo Finance's multisig wallet 0x677 on September 24, 2024, when the ONDO price was $0.717.
Transfer History and Current Status
Since February 2025, the crypto wallets in question have deposited a total of 69.17 million ONDO tokens worth $74.9 million to the same Coinbase deposit address. The average token price during these deposits was $1.08. Currently, these addresses hold $244 million in assets, including $34.8 million worth of ONDO tokens each, across seven different cryptocurrency wallets.
Strategy and Current ONDO Price
At the time of writing, ONDO is trading at $0.918. If these transfers were indeed aimed at sales, it indicates a well-implemented sales strategy by the development team.
The transfer of a large number of ONDO tokens to Coinbase might indicate strategic decisions by the development team, suggesting possible achievements of certain goals in their financial strategy.
