Coinlist appears to be dumping $ONDO
An address belonging to Coinlist is depositing large amounts of $ONDO to the centralized exchange. On 08/01, nearly $5.2 million in $ONDO was deposited.
In addition, according to Scopechat data, a large amount of $ONDO was transferred to centralized exchanges from 08/01 to 08/06.
Usually if the project party wants to accumulate tokens, it will transfer the tokens from the exchange to the wallet on the chain, and if it wants to sell the tokens, it will transfer the tokens to the centralized exchange.
(Because the liquidity of centralized exchanges is usually better)
Coupled with the recent overall weakening trend in the overall economy, it is very likely that it is all selling.
However, $ONDO is the leader in the RWA sector, and its fundamentals are very strong. Perhaps we can observe whether there are addresses that start to accumulate tokens on the chain after the market stabilizes.
Or gradually accumulate in the form of regular quotas, which is also a relatively conservative approach.
(Actually, from the picture above, you can find that on 08/05, someone had already started to accumulate a small amount of $ONDO)
