Whale Withdraws Millions in JASMY and ONDO Tokens from Coinbase Amid Market Decline

• A significant whale recently withdrew millions in ONDO and JASMY tokens from Coinbase.
• This major withdrawal happened as JASMY saw a sharp decline of over 17% in the past week.
• Speculation in the crypto community suggests eToro might be behind these transactions.

Crypto Whale Makes Headlines with Massive ONDO and JASMY Withdrawals from Coinbase Amid Market Volatility.

Substantial Withdrawal of ONDO and JASMY Tokens

Major investors in real-world asset tokenization projects, such as Ondo Finance (ONDO) and Jasmy Coin (JASMY), have executed substantial withdrawals from Coinbase, the prominent cryptocurrency exchange. This activity appears to mark a shift in market sentiment, notwithstanding recent unfavorable market conditions.

Insight from The Data Nerd on Crypto Movements

According to a recent update on the X platform by crypto-surveillance service “The Data Nerd”, significant movements of ONDO and JASMY tokens were observed exiting Coinbase. Utilizing data from Arkham Intelligence, this market observer noted a transfer of 1.5 million ONDO tokens, valued at around $1.93 million, to cold storage by an unidentified whale.

Notable Tokens and Market Impact

Concurrently, the whale also moved 120 million JASMY tokens, worth approximately $4.31 million, off Coinbase. This action took place despite JASMY’s price plummeting more than 17% in the last week amid a bearish market climate, although there has been a slight rebound in ONDO’s value.

Broader Portfolio and Possible Ownership

Further details indicate that the same whale maintains a diversified portfolio, totaling 3.8 million ONDO tokens valued at around $5 million. Their largest holdings feature Ethereum (ETH) at approximately $42 million, Fetch.AI (FET) at $35.83 million, and Shiba Inu (SHIB) valued around $21.68 million. Although the whale’s identity has not been confirmed, evidence from Arkham Intelligence suggests this wallet might belong to eToro, which holds over $273 million in various crypto assets.

Additional Significant Token Transfers

Recent data shows this major whale has been active in conducting multiple large transfers from Coinbase to private wallets. Significant quantities of tokens such as Uniswap (UNI), Chainlink (LINK), Avalanche (AVAX), Render (RNDR), and Arbitrum (ARB) – each surpassing half a million dollars in value – have been moved. These transactions occurred in rapid succession within a single hour, indicating a highly strategic approach.

Conclusion

These substantial asset movements by a significant whale underscore ongoing market dynamics and potential shifts within the crypto investment landscape. As the market continues to evolve, such prominent activities could shape future investment strategies, particularly in the context of notable entities like eToro. Investors and market watchers should stay informed and vigilant, monitoring further developments to adapt their strategies accordingly.