ONDO Project Team Faces Heat for Tanking Token After Suspected Dump

• An X user blames the ONDO token decline on a suspected token dump by the project’s team. 
• The user alleges the team sold 40 million ONDO tokens, after which the token fell. 
• On Monday, the same user flagged a 20 million token sale by the project’s team.

In a recent tweet on X (formerly Twitter), an X crypto enthusiast flagged a series of suspected ONDO sales by the project’s team as the reason behind the token’s sudden steep decline in the early hours of Tuesday and Monday. The alleged sales followed an upward trend in the token’s price the previous week.

In what began on January 22, the X crypto enthusiast flagged a series of transactions from two wallet addresses associated with the project’s multi-signature. Specifically, the user reported that millions of ONDO tokens were transferred from the multi-sig to the two wallet addresses. 

In the latest transaction, the user noted that over 40 million ONDO tokens were sold in the late hours of Monday. Following the transfer, the user stated that the token’s price fell by 15% before making a slight recovery. At the time the post was ma…

The post ONDO Project Team Faces Heat for Tanking Token After Suspected Dump appeared first on Coin Edition.