ONDO Token Withdrawals and Distribution
25 million ONDO tokens were withdrawn from the ONDO multisig wallet. Following this transfer, worth approximately $10.19 million, the tokens were distributed across five different exchanges: Coinbase, OKX, Bybit, Gate, and KuCoin. On-chain data indicates that these transactions were completed approximately 6 hours ago.
Whale's Leveraged Trading Losses
In a separate market development, a significant whale engaged in leveraged trading of WBTC and ETH, incurring substantial losses. This whale bought WBTC and ETH at high levels and subsequently sold at a loss after Bitcoin surpassed the $97,000 mark. The whale sold 300 WBTC at an average price of $97,053, acquiring 29.11 million USDT, which was then used to repay debt.
To date, the whale has accumulated losses of approximately $39.15 million. According to available data, in August 2025, the whale initially purchased 1,560 WBTC at an average price of $116,762 and 18,517 ETH at $4,415. As the market experienced a downturn, the whale began selling positions in November. The entire ETH position was closed at an average price of $3,049, resulting in a loss of $25.29 million. Additionally, 560 WBTC were sold at $92,015, leading to a loss of $13.86 million. It is reported that the whale currently still holds 1,000 WBTC.