Assessing whether ONDO crypto could reclaim $0.50 despite $4.4M whale sale

Notably, the exchange flows also reflect this sell-side activity. $ONDO’s Spot Netflow turned positive after being negative for four consecutive days.

On the 9th of October, Spot Netflow rose to $810k, reversing from the -$6 million recorded on the previous day, indicating that more funds flowed into exchanges.

Private markets offer a lifeline

Interestingly, while the broader market mostly declined, $ONDO was an exception. After falling to $0.43, the altcoin rebounded, closing at $0.47 on the 8th of October.

On the next day, $ONDO showed relative strength, rising to a daily high of $0.49, thus defying the broader bearish trend.

The altcoin extended its bullish trend after Ondo Finance launched its 24/7 Private Markets. Ondo Private Markets offers tokenized exposure to private companies before they go public. Ondo Finance stated that these markets seek to address the existing gap between retail and institutional investors.

Most importantly, these funds offer investors access to companies across various sectors. Such firms include AI, robotics, cybersecurity, biotech, infrastructure, and more.

This narrative appears to have supported the altcoin’s price action over the past day and may have helped the altcoin avoid the recent sell-off.