An anonymous investor offloaded PEPE and BEAM tokens, incurring a total loss exceeding $14 million. Subsequently, they allocated $6.26 million to acquire 5.35 million ONDO tokens, as noted by Spot On Chain.
A whale ditched all of its $PEPE and $BEAM at a $14M loss for $ONDO —shifting its bets!
Over the past 17 hours, whale “0x655”:
• Sold 531.7B $PEPE for 4.1M $DAI, taking a $6.9M loss (-63%) after just 3 months.
• Sold 261.6M $BEAM for 2.13M $DAI, losing $7.13M (-77%) after… pic.twitter.com/dUQxjscCmZ
— Spot On Chain (@spotonchain) March 3, 2025
The whale sold 531.7 billion PEPE for $4.1 million in the stablecoin DAI after holding the asset for three months. During this period, the popular meme coin depreciated by 63%.
On the 261.6 million BEAM sold for $2.13 million in DAI, losses over the same period amounted to 77% of the initial investments.
The analytical service noted that the user added a position in Ondo Finance tokens to their portfolio for the first time. At the time of writing, it is the dominant asset with a total balance of $10.18 million.
“Interestingly, ONDO is part of World Liberty Financial’s portfolio, associated with President Donald Trump. Just yesterday, he announced the creation of a US crypto reserve that will include Bitcoin, ETH, SOL, XRP, ADA, and ‘other valuable cryptocurrencies’,” experts highlighted.
The crypto project affiliated with the Trump family owns 361,464 ONDO valued at $419,298.
Ondo Finance is developing a DeFi platform for tokenizing real-world assets (RWA), including US Treasury bonds, bonds, and other securities.
According to Fortune, the project has hired former Congressman Patrick McHenry as vice chairman of the advisory board. The Republican politician chaired the House Financial Services Committee and was noted for his crypto-friendly stance, playing a leading role in advancing bills on stablecoins and FIT21.
In February, Ondo Finance joined Mastercard’s Multi-Token Network blockchain system.