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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Trump Highlights Severe Trade Tensions Between U.S. and Europe Amid Heavy Taxes and Lawsuits

On June 28th, U.S. President Trump highlighted the complex...

Bitcoin Sees Massive 11,770 BTC Outflow from Major CEXs Including Coinbase Pro and Binance

According to the latest data from Coinglass, centralized exchanges...

Bitcoin Spot ETF Sees $2.214 Billion Net Inflow in U.S. as BlackRock Leads with $1.31 Billion

According to data from Farside Investors, the United States...

TRUMP Token Liquidity Pool Drains $6.77 Million in Major Withdrawal, Reports OnChain Lens

According to OnChain Lens data reported by COINOTAG News...

US Senate’s $4.2 Trillion Tax Plan Sparks Debate Ahead of Bitcoin Deadline

The U.S. Senate, under Republican control, has unveiled a...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img