Centralized exchanges and market makers have recently transferred over $6.83 million worth of ONDO tokens across major platforms on behalf of institutions seeking liquidity.
FalconX sent $3.89 million of ONDO to Binance, while Ondo Finance transferred $1.46 million to Coinbase as part of a planned 4 million token move. Coinbase subsequently sent $1.48 million of ONDO to Bybit.
Historical patterns suggest such transfers often precede large institutional sales. Previous similar activity has preceded periods of price weakness and increased selling pressure in the market.
Current Price Stability
Despite the significant token movements, ONDO has remained relatively stable, trading between $0.35 and $0.34. At the time of reporting, ONDO traded around $0.34 after a slight decline of 0.97%, while trading volume dropped 39% to $56 million.
Technical Indicators Show Weakness
Momentum indicators point to ongoing market weakness. The Awesome Oscillator held negative for four consecutive days, suggesting short-term momentum remains weaker than long-term momentum. Additionally, ONDO continues to trade below both short-term and long-term moving averages, reflecting downside pressure.
Divergence Between Derivatives and Spot Markets
Analysis of market flows revealed contrasting dynamics across different trading segments. Over the past week, ONDO's futures market saw $444 million in outflows compared to $410 million in inflows, resulting in a net outflow of $34 million—a 102% decline in futures netflow and a sign of aggressive market exits.
The spot market, meanwhile, has demonstrated stronger demand. The altcoin's market delta remained positive over the past week, at approximately 2.1 million at reporting time, down slightly from 2.5 million the previous day.
This divergence between derivatives selling and spot buying has kept ONDO trading sideways within its established range.
