On-chain data shows that an Ondo multisignature address moved 150 million ONDO tokens roughly seven hours ago. Based on the reported valuation at the time of transfer, the transaction was worth about $63.88 million, making it a notable movement for the token.
Part of the transfer was sent to exchanges
According to on-chain analyst Ember, about one hour ago, 21.338 million ONDO from that larger transfer was moved to Coinbase and Bybit. The value of that portion was estimated at approximately $9.15 million. Because exchange inflows are often monitored as a potential sign of upcoming selling pressure, the transfer quickly drew attention from market watchers.
Exchange deposits do not automatically mean selling
Still, a transfer to a centralized exchange does not by itself confirm that a sale has taken place. Large holders may move tokens for a range of reasons, including liquidity management, custody changes, internal treasury operations, or preparation for trading. Based on the available information, the confirmed facts are limited to the token movement itself and the destination of part of the funds.
Market focus shifts to ONDO’s next move
The source material also indicated that ONDO was down about 1.92% at the time. Traders are likely to keep watching whether more tokens are sent to exchanges and whether any follow-up activity appears in order books or on-chain flows. For now, the main takeaway is clear: 150 million ONDO were transferred, and roughly $9.15 million worth of tokens was later deposited to Coinbase and Bybit.