Arthur Hayes Receives $37M in ONDO Transfers
A Gnosis Safe wallet has sent $37M worth of ONDO tokens to Arthur Hayes’ Bybit deposit wallet in the past month.
- $26.28M ONDO deposited into exchanges in the last 10 hours.
- $6.19M of that went directly to Arthur Hayes’ Bybit wallet.
- Total ONDO transfers to Hayes’ wallet hit $37.56M in one month.
Massive ONDO Transfers Linked to Arthur Hayes
Blockchain data shows that a Gnosis Safe Proxy wallet moved 26.28 million ONDO tokens (worth $24.7 million) into exchanges over the past 10 hours. Out of this amount, 6.57 million ONDO ($6.19 million) was deposited directly into a Bybit wallet associated with Arthur Hayes, the co-founder of the exchange.
This isn’t an isolated transfer. On-chain analysis reveals that over the past month, a total of 36.88 million ONDO ($37.56 million) has been sent to Hayes’ Bybit deposit wallet.
What’s Behind the ONDO Transfers?
While the exact motive for these large token movements is unclear, such activity often sparks speculation in the crypto community. Depositing tokens into exchanges can suggest potential sell-side pressure, though it could also represent strategic positioning, liquidity management, or internal restructuring of holdings.
ONDO, the governance token of Ondo Finance, has gained traction in the DeFi sector, with rising adoption in tokenized real-world assets (RWAs). The association of large transfers with a high-profile figure like Hayes only adds to the intrigue.
Market Implications
Large inflows to exchanges are typically monitored closely by traders, as they may signal short-term volatility. Given the scale of the ONDO movements tied to Hayes’ wallet, market participants are likely to keep a close watch on ONDO price action in the coming days.
If the tokens are indeed being sold, it could put downward pressure on the price. However, if they are meant for strategic use on Bybit or other DeFi-related activity, the long-term implications may be less bearish.
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