Ondo Finance transferred 150 million ONDO worth nearly $63.9 million to a team-linked wallet eight hours before exchange activity increased. Shortly after, the same wallet deposited 18.83M ONDO worth $8.1M into Coinbase.
The sequence quickly attracted market attention because traders often associate large exchange deposits with potential selling pressure.
However, the wallet still retained massive ONDO reserves after the transfer activity concluded.
Arkham data also showed that Ondo Finance continued holding 5.63B ONDO worth roughly $2.46B.
Team-linked reserves remained above 121 million ONDO worth nearly $54 million. Those figures suggested that internal wallets still controlled a significant supply. As a result, traders closely monitored whether additional deposits would follow the Coinbase transaction.
Exchange flows shifted back to positive
At the time of writing, Spot Netflows had turned positive after ONDO recorded over $1.02M in exchange inflows on the 12th of May.
The reversal followed several months of dominant outflow activity across spot markets. Earlier periods showed repeated negative flows, especially during July, September, and October.
However, recent inflow spikes increased as ONDO recovered aggressively from its long consolidation phase.
Positive Netflows usually reflect rising exchange activity because traders move tokens closer to active liquidity venues.
Therefore, the latest shift suggested that holders started repositioning after ONDO’s breakout accelerated.
Smaller inflow spikes also appeared throughout late April and early May before the latest surge emerged.
ONDO reclaimed key resistance after the breakout
ONDO broke above its multi-month accumulation range after holding support near the $0.240 zone for months.
Price later reclaimed the major $0.356 resistance level before approaching the $0.459 supply region.
The breakout followed a long sideways structure, which previously limited bullish expansion throughout February and March.
Buyers then pushed ONDO sharply higher as volatility expanded across the broader market.
The daily structure also showed strong continuation after ONDO escaped the upper boundary of the consolidation box.
However, the price started slowing near the $0.459 resistance area, where previous rejection pressure appeared.
If buyers maintained control above $0.356, ONDO would likely attempt another push toward higher resistance.
Failure to defend that breakout zone would likely trigger a deeper retracement.
RSI climbed aggressively above 79 after ONDO completed its breakout from the prolonged accumulation structure.
This reading placed the indicator deep inside overheated territory for the first time in months.
Strong RSI expansion usually reflects intense buying activity during rapid price acceleration phases.
Long traders faced rising liquidation pressure
Long liquidations exceeded $390.77K while short liquidations remained below $43.89K across major exchanges.
Binance and Bybit contributed most of the liquidated bullish positions during the latest volatility spike. Gate.io also recorded over $154K in long liquidations despite relatively smaller short losses.
Those figures showed that aggressive buyers entered heavily during the rapid expansion phase.
However, sharp volatility later flushed leveraged positions as the price approached overhead resistance zones.
Long liquidations generally increase when traders overextend after strong breakout rallies.
Final Summary
- ONDO reclaimed major resistance as exchange activity and speculative positioning intensified rapidly.
- Long liquidations surged heavily while RSI entered overheated territory near key resistance levels.
