Whale Waves into ONDO Market, Acquiring $5.34M of the Token

Ondo (ONDO) has experienced significant attention after a major whale made waves in the market by acquiring $5.34 million worth of ONDO

Ondo (ONDO) has come into the market’s crosshairs after a major whale made a large-scale purchase of $5.34 million in ONDO. This follows the whale’s $14.14 million loss after selling off $PEPE and $BEAM holdings for $6.25 million in DAI.

The whale’s entry into ONDO follows the token’s recent struggles, which saw it lose a third of its value in just seven days. However, the token has since bounced back, rising 10.16% in the last 24 hours to reach $1.11.

With the token now continuing to gain momentum, traders are wondering if the bullish action will continue or if we could see a market correction.

Whale’s Huge Purchase Fills ONDO Market

The whale, whose portfolio is publicly viewable on blockchain analytics platform TokenSniffer, bought a large sum of ONDO for 5,126,042 DAI at an average price of $1.17.

At the time of writing, ONDO is up 10.16% to $1.11, which has seen the token gain plenty of attention in the market. This follows recent statistics that suggest ONDO’s ecosystem is seeing users become more engaged.

Over the last week, there has been a 15.39% increase in the number of new addresses, while a 36.14% rise in active addresses signals that more users are interacting with the token. Additionally, there has been a 27.05% increase in zero-balance addresses.

This suggests a broader interest in the token, which could point toward ONDO seeing further market growth in the near future.

Key Price Levels and Market Sentiment

Ondo has been trading inside a descending channel since January 2025. The price has faced resistance at $1.25 and support around $1.00.

Now, ONDO is trading at $1.11, and a breakout above $1.25 could lead to a surge toward $1.50 and potentially $1.80. On the flip side, if ONDO fails to hold above the $1.00 support, there could be a further price pullback.

The sentiment of ONDO holders is mostly positive, with around 79% of addresses in the money and holding tokens purchased below $1.12. However, traders who bought at higher prices may be at a greater risk if the token fails to maintain support levels.

While the majority of holders remain profitable, those who entered at higher price points could face losses if the token continues to decline in price.

Liquidation Pressure and Bearish Sentiment

Despite the positive price action in the last 24 hours, the liquidation data suggests there is some bearish sentiment in the market.

Open Interest (OI) has increased by 13.70%, which signals an expectation of price volatility. However, there is a significant imbalance between long and short liquidations. Long positions are facing $603.42K in liquidations, while short positions have seen only $25.53K in liquidations.

This imbalance suggests that a majority of traders are being forced out of long positions, which is adding further downward pressure to the market.

Whale’s Investment: A Risky Bet?

The whale’s investment of $6.25 million into ONDO could be a bold move, but it’s not without risks.

With key resistance levels in play and liquidation trends suggesting bearish sentiment, there’s potential for a price correction before the token can breakout.

However, ONDO’s recent rise has seen confidence increase in the market, as evidenced by the increase in new addresses and active user participation.

For now, the market is at a crucial juncture, with traders looking closely at key levels. If ONDO can break through the $1.25 resistance, the next targets could be $1.50 and $1.80.

But if the token fails to maintain support at $1.00, a further downside could materialize. Traders should remain vigilant as they navigate the price action and sentiment surrounding ONDO.