Whales Book Profits as Ondo Finance and Chainlink Surge Over 100%
The real-world asset (RWA) segment in the crypto market is gaining attention for its potential to enhance global blockchain adoption. RWA projects aim to transition traditional finance into a decentralized tokenized framework, marking a significant evolution in the crypto landscape.
Key players in the RWA space include Ondo Finance and Chainlink. Ondo Finance is recognized for tokenizing US government treasuries and offers a 4.65% APY on USDY, a stablecoin backed by these treasuries.
Chainlink serves as a prominent oracle within the crypto ecosystem, facilitating connections between traditional and decentralized finance. Its Cross Chain Interoperability Protocol (CCIP) collaborates with established entities like Swift and Euroclear.
RWA Tokens Surge
The crypto market has reached a valuation of $3.45 trillion, leading to substantial growth in real-world asset tokens. In the past 30 days, both Ondo Finance and Chainlink have experienced significant price increases.
The price of Ondo has surged by 176%, achieving a market cap of $2.34 billion. Currently, the ONDO token trades at $1.68, reflecting a nearly 42% rise in the last 24 hours.
Chainlink has also seen impressive gains, surpassing a market valuation of $15.50 billion. The LINK token has delivered a monthly return of 125%, currently trading at $24.79, with a 24-hour increase of 24%.
Whales Profit from RWA Projects
In light of the over 100% rally in the past month, large investors are realizing profits from real-world asset tokens. The recent jumps in prices have prompted profit-taking actions among whales.
According to data from Spot On Chain, whale “0x992” deposited 5,736 ONDO tokens on Coinbase, valued at $815,000, resulting in a profit of $294,000 and a return of 56%.
Additionally, whales “0x74F” and “0x9B3” deposited 352,417 LINK tokens on Kraken, amounting to $7.69 million and yielding a profit of 107%, totaling $4.06 million after a two-year holding period.
Furthermore, whale “0x8B2” transferred 83,460 LINK tokens to Binance, worth $1.85 million, concluding a 6.5-month trade with a profit of $522,000, equating to a return of 39.3%.
Market Outlook for RWA Tokens
Despite recent sell-offs, the overall market recovery is expected to sustain bullish momentum in the RWA token sector. Ondo continues to trade close to its all-time high, while Chainlink has achieved a new 52-week peak.
Moreover, whale “0x992” retains 2 million ONDO tokens valued at $3.22 million, reflecting an unrealized profit of approximately $1.4 million at current market rates, indicating confidence in continued upward trends.