This Whale Might Know Something About Altcoin: Its Buying Pushed Its Price Up!

Lookonchain hinted that this wallet address might know something.

The price of ONDO, which works on the tokenization of real-world assets (RWA), started to rise yesterday after the announcement of DTCC, the world's largest securities settlement system.

According to CoinGecko data, ONDO, which was the most rising altcoin of the day and experienced a 10% increase after the whale purchase, is traded at $ 1,008 at the time of writing.

A newly created wallet address quickly purchased an altcoin.

On-chain data and analysis account Lookonchain mentioned the purchase of altcoins made by a newly opened wallet address in its post on Twitter on May 18.

The wallet in question withdrew 1,870 Ethereum (ETH) worth $5.7 million via popular US cryptocurrency exchange Gemini shortly after it was opened. The whale then purchased $6 million worth of Ondo Finance (ONDO) at $5.7 million at an average cost of $0.95.