Whale keeps adding as losses mount, ONDO becomes a new bet
12 hours ago, the whale withdrew 2.455 million ONDO from Binance at an average price of $0.4662, spending $1.144 million. The whale’s altcoin portfolio, worth tens of millions and built up since September 23, is still underwater across the board: UNI is down $1.551 million and LTC is down $101,000. The whale closed out its BNB position six days ago, taking another $73,000 loss.
The average ONDO price of $0.4662 is the cost basis for this round of buying. If the price dips below $0.45 in the short term, the whale’s unrealized losses could quickly swell to a new level. Stop-loss selling and market makers pulling their orders could create a negative feedback loop. Overhead, sell pressure from holders looking to break even is building in the $0.48–$0.50 range, so a rebound to that level will likely need to consolidate. The whale has held onto its older positions in UNI, with an average price of $8.79, and LTC, at $67.86, without cutting losses—suggesting a bet on a broad recovery in altcoin rotation. But the BNB exit has already revealed that the whale is pulling back. This ONDO move looks more like averaging down than a bullish conviction signal.
For those of you holding ONDO, is your cost basis above or below $0.45? Would you dare to follow this latest buy?
$ONDO $UNI $LTC
12 hours ago, the whale withdrew 2.455 million ONDO from Binance at an average price of $0.4662, spending $1.144 million. The whale’s altcoin portfolio, worth tens of millions and built up since September 23, is still underwater across the board: UNI is down $1.551 million and LTC is down $101,000. The whale closed out its BNB position six days ago, taking another $73,000 loss.
The average ONDO price of $0.4662 is the cost basis for this round of buying. If the price dips below $0.45 in the short term, the whale’s unrealized losses could quickly swell to a new level. Stop-loss selling and market makers pulling their orders could create a negative feedback loop. Overhead, sell pressure from holders looking to break even is building in the $0.48–$0.50 range, so a rebound to that level will likely need to consolidate. The whale has held onto its older positions in UNI, with an average price of $8.79, and LTC, at $67.86, without cutting losses—suggesting a bet on a broad recovery in altcoin rotation. But the BNB exit has already revealed that the whale is pulling back. This ONDO move looks more like averaging down than a bullish conviction signal.
For those of you holding ONDO, is your cost basis above or below $0.45? Would you dare to follow this latest buy?
$ONDO $UNI $LTC