- ONDO holders have realized over $120 million in gains in the past 30 days by shedding their tokens.
- On-chain data shows two whales deposited ONDO to Bybit following the token’s recent exchange listing on Upbit.
- ONDO extended its rally by 6% on Friday, adding nearly 76% to its value in the past 30 days.
ONDO, the governance token of Ondo Finance, trades in the green on Friday, defying the effects of a surge in profit taking from large-wallet investors following the 76% gains seen in the past 30 days.
ONDO whales take profits, token sustains recent gains
Data from on-chain intelligence tracker Spotonchain shows that two large wallet investors deposited 2.95 million ONDO (worth $3.86 million at the time) to an exchange platform Bybit on Friday, June 14. The whales made the move after the governance token’s listing on the exchange Upbit, a catalyst likely driving gains in the asset.
Another catalyst driving ONDO’s recent gains is the increasing relevance of the Real World Asset (RWA) tokenization narrative among market participants.
The first large wallet investor netted an estimated return of 42% on 1.95 million ONDO tokens, while the second sold 1 million ONDO at 45% gains.
Two whales deposited 2.95M $ONDO ($3.86M) to #Bybit for profits after #Upbit listed $ONDO!
— Spot On Chain (@spotonchain) June 14, 2024
1. Whale 0x440 unloaded 1.95M $ONDO ($2.55M) ➡️ Est. total profit: $1.94M (+42%).
2. Whale 0xa87 unloaded 1M $ONDO ($1.31M) ➡️ Est. total profit: $808K (+45%) with 1M $ONDO ($1.31M) left.… pic.twitter.com/c0kTwt4asL
Santiment data shows large spikes in the Network Realized Profit/Loss (NPL) metric in May and June, indicating that ONDO holders on average opted to sell their bags at a significant profit. Specifically, the NPL shows that traders took more than $120 million in profits in the past 30 days.
This represents a large volume of profit taking around the local peak of $1.452 on June 4, as seen in the chart below.
Despite mass profit taking ONDO has sustained its recent gains and extended the rally on Friday. The token trades at around $1.2800 at the time of writing, up more than 6% on the day, although it gained as much as 18% earlier in the session.
Network realized profit/loss vs. price (ONDO)
In the same time frame, there has also been an increase in ONDO’s social dominance, a metric that identifies the share of the asset in crypto mentions on platforms like X and Reddit. ONDO’s social dominance has climbed from 0.029% to 0.428% in the past 30 days, as seen on Santiment.
The growth in social dominance may support a bullish thesis for ONDO, traders should remain cautious as there is no direct correlation between social dominance and asset prices.
ONDO social dominance vs. price
While large-wallet investors are selling and taking profits, there is an exception. Holders with 10 million to 100 million ONDO in their wallets increased their holdings by 14% in the past 30 days coinciding with the price rally.
Whale accumulation by the segment that holds a large volume of ONDO, alongside growing social dominance and exchange listing are the market movers influencing the asset’s price on Friday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.

Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.

Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.