Analyst flags $49.56M ONDO transfer from team wallet as potential sell-off

An Ondo Finance (ONDO) team multisig address transferred 150 million ONDO, worth $49.56 million, to an anonymous address eight hours ago, according to on-chain analyst ai_9684xtpa. The analyst noted that this address receives large amounts of ONDO on a monthly basis. Since April 22, the address has received a total of 425 million ONDO, valued at approximately $147 million at current prices. While funds from the two previous large transfers were subsequently deposited to Coinbase in multiple transactions, the purpose of this latest transfer remains unconfirmed, ai_9684xtpa added.