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<p>As per a detailed <a href="https://platform.spotonchain.com/en/signal-details/whale-bought-ondo-rbn-and-axl-for-the-first-time-33961" target="_blank" rel="noopener noreferrer nofollow">report</a> by on-chain analytics provider Spotonchain, an anonymous Ethereum whale has made their first-ever acquisitions of two altcoins over the past 8 hours – snapping up over $1.15 million worth of ONDO tokens and $330,000 in AXL amidst substantial short-term price rises.</p>
<p>The whale, identified only by their wallet address 0xd6a75b427b73a7afa65cade2445185b44fb7be98, spent a staggering 1.60 million USDT in combination with 40 ETH (valued at roughly $172,000 at current prices), bringing their total outlay to approximately $1.72 million for this series of transactions.</p>
<h2 class="wp-block-heading" id="strong-first-time-picks-ondo-and-axl-in-focus-strong"><strong>First-Time Picks: ONDO and AXL in Focus</strong></h2>
<p>Significantly, this represents the first occasion that the Whale has purchased either ONDO or AXL tokens for their portfolio, potentially signaling meaningful long-term conviction in the two cryptocurrencies.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="626" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-1024x626.png" alt="" class="wp-image-442704" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-1024x626.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-300x183.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-767x469.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-1536x939.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-2048x1252.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-573x350.png 573w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865-788x481.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-865.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>In detail, the whale obtained over 2.59 million ONDO tokens at an average price of $0.444 each, along with 223,350 AXL at $1.477 per token on average. Additionally, they snapped up 503,043 RBN coins at around $0.477 a piece – adding to the nearly 584,000 RBN they acquired only 3 days prior by swapping 100 ETH at the time.</p>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="1600" height="978" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-866.png" alt="" class="wp-image-442720" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-866.png 1600w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-300x183.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-1024x626.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-767x469.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-1536x939.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-2048x1252.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-573x350.png 573w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-866-788x481.png 788w" sizes="(max-width: 1600px) 100vw, 1600px">
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<p>Hence, when combined with their previous purchase earlier in the week, the whale now holds more than 1.08 million RBN overall, worth approximately $518,000 at today’s prices. At the time of the report, ONDO and AXL prices ballooned by 21.1% and 17.3% respectively, contrastingly RBN declined nearly 3% over the same timeframe.</p>
<h2 class="wp-block-heading" id="strong-current-price-action-strong"><strong>Current Price Action</strong></h2>
<p>According to the latest pricing data from CoinMarketCap, ONDO currently trades at <a href="https://coinmarketcap.com/currencies/ondo-finance/" target="_blank" rel="noopener noreferrer nofollow">$0.444834</a>, up over 40% in the last 24 hours alone, while AXL sits at <a href="https://coinmarketcap.com/currencies/axelar/" target="_blank" rel="noopener noreferrer nofollow">$1.53</a> after a more than 19% single-day rally. RBN changed hands at <a href="https://coinmarketcap.com/currencies/axelar/" target="_blank" rel="noopener noreferrer nofollow">$0.492145</a> as of this writing, down by over 5% thus far today.</p>
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<p>While the motivations behind this series of large, first-time purchases remain unclear, the break from typical trading patterns for Whale 0xd6a has certainly caught the attention of many cryptocurrency analysts.</p>
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<p>The post <a href="https://captainaltcoin.com/ethereum-whale-acquires-ondo-axl-and-rbn-for-the-first-time-long-term-conviction-or-short-term-speculation/" rel="noopener noreferrer nofollow">Ethereum Whale Acquires ONDO, AXL, and RBN for the First Time</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethereum Whale Acquires ONDO, AXL, and RBN for the First Time

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