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Altcoin whales took action by evaluating a statement from South Korea earlier today.
Upbit, South Korea's leading cryptocurrency exchange, announced that it will list Ondo Finance's ONDO token around 06:00 UTC.
Whales did not miss the opportunity
According to TradingView data, after Upbit's announcement, Ondo Finance (ONDO) rose from $1.25 to over $1.40 in a short time.
According to the report of Blockchain analysis platform Spot On Chain, two whales took advantage of the price increase and made a profit sale early this morning.
One of the whales, who deposited a total of 2.95 million ONDO on the Bybit exchange, sent 1.95 million ONDO (worth approximately $2.55 million) and earned an estimated $1.94 million. This whale's return rate was 42%.
The other whale transferred 1 million ONDO, managing a value of $1.31 million. This whale, which made a 45% return, earned approximately 808 thousand dollars. According to Spot On Chain data, this whale still has 1 million ONDO in his wallet.
Impact of the South Korean market
It is known that Upbit, with a daily transaction volume of approximately 900 million dollars, has started to list cryptocurrencies more frequently recently due to the impact of regulations.
According to Layeregg data, Upbit's recently listed AUCTION and STG tokens gained 75.56% and 77% respectively after listing.
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I EXPLAIN IN DETAIL.
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