{"id":129673,"date":"2024-11-24T21:53:47","date_gmt":"2024-11-24T14:53:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=129673"},"modified":"2024-11-24T21:53:47","modified_gmt":"2024-11-24T14:53:47","slug":"binance-scoops-up-596k-ondo-but-bearish-sentiment-remains-what-now","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=129673","title":{"rendered":"Binance scoops up $596K ONDO, but bearish sentiment remains: What now?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul class=\"ul1\">\n<li class=\"li4\"><em><span class=\"s2\">Binance recently purchased over $596,000 worth of ONDO, showing growing interest. <\/span><\/em><\/li>\n<li class=\"li4\"><em><span class=\"s2\">However, this move has not swayed broader market behavior, as many participants continued selling.<\/span><\/em><\/li>\n<\/ul>\n<p class=\"p4\"><span class=\"s2\"><a href=\"https:\/\/ambcrypto.com\/predictions\/ondo-finance-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ondo Finance [ONDO]<\/a> maintained its bullish sentiment at press time, gaining 46.43% over the past month and posting a 1.69% increase in the last 24 hours. <\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">However, a divergence between recent price gains and weakening interest suggested that a potential trend reversal could be on the horizon.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">AMBCrypto provided deeper insights into ONDO\u2019s current performance and what investors should anticipate next.<\/span><\/p>\n<h2 class=\"p5\"><span class=\"s4\">Binance accumulates ONDO<\/span><\/h2>\n<p class=\"p4\"><span class=\"s2\">Binance, the world\u2019s largest cryptocurrency exchange by market capitalization, has recently <a href=\"https:\/\/x.com\/nottellingyou73\/status\/1860433939816431979?s=46\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">accumulated<\/a> $596,415.56 worth of ONDO, equivalent to 174.22 ETH, over the past five days.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">These transactions were conducted through Binance\u2019s hot and cold wallets in two separate transfers, bringing its total ONDO holdings to 571,827 tokens.<\/span><\/p>\n<div id=\"attachment_445742\" style=\"width: 1135px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445742\" class=\"wp-image-445742 size-full\" alt=\"\" width=\"1125\" height=\"1901\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99.jpeg 1125w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-178x300.jpeg 178w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-606x1024.jpeg 606w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-768x1298.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-909x1536.jpeg 909w\" data-lazy-sizes=\"(max-width: 1125px) 100vw, 1125px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99.jpeg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445742\" class=\"wp-image-445742 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99.jpeg\" alt=\"\" width=\"1125\" height=\"1901\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99.jpeg 1125w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-178x300.jpeg 178w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-606x1024.jpeg 606w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-768x1298.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/383119C1-D671-4CBB-83C4-714A5256EA99-909x1536.jpeg 909w\" sizes=\"auto, (max-width: 1125px) 100vw, 1125px\"\/><\/a><\/p>\n<p id=\"caption-attachment-445742\" class=\"wp-caption-text\">Source: X<\/p>\n<\/div>\n<p class=\"p4\"><span class=\"s2\">Such large-scale acquisitions often hint at growing institutional interest, suggesting that major players may be positioning themselves for a potential rally. <\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">However, a closer look reveals a stark contrast: while institutions are accumulating, derivative traders are actively selling, signaling a potential divergence in market sentiment.<\/span><\/p>\n<h2 class=\"p5\"><span class=\"s4\">Divergence amid ONDO accumulation<\/span><\/h2>\n<p class=\"p4\"><span class=\"s2\">At the time of writing, bearish sentiment was developing, diverging from the bullish undertone set by large-scale accumulation.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">The <a href=\"https:\/\/www.coinglass.com\/currencies\/ONDO\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">OI-Weighted Funding Rate<\/a>, which adjusts the Funding Rate by Open Interest (OI), provides a clearer view of market sentiment. <\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">A positive rate suggests a bullish market with dominant longs, while a negative rate reflects a bearish market led by shorts.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">At press time, ONDO\u2019s Funding Rate appeared to be steadily declining, and has entered the negative region, with a reading of 0.0251%, showing growing bearish pressure.<\/span><\/p>\n<div id=\"attachment_445745\" style=\"width: 1360px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445745\" class=\"wp-image-445745 size-full\" alt=\"\" width=\"1350\" height=\"384\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180.png 1350w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-1024x291.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-1200x341.png 1200w\" data-lazy-sizes=\"(max-width: 1350px) 100vw, 1350px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445745\" class=\"wp-image-445745 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180.png\" alt=\"\" width=\"1350\" height=\"384\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180.png 1350w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-1024x291.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot_180-1200x341.png 1200w\" sizes=\"auto, (max-width: 1350px) 100vw, 1350px\"\/><\/a><\/p>\n<p id=\"caption-attachment-445745\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p class=\"p4\"><span class=\"s2\">Long liquidation data revealed that the market looked unfavorable for long traders who aligned with the accumulation trends of larger investors. <\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">A total of $538,610 worth of long positions has been forcefully liquidated, indicating that downward momentum may continue to steer ONDO\u2019s price lower.<\/span><\/p>\n<h2 class=\"p5\"><span class=\"s4\">Increase in short contracts<\/span><\/h2>\n<p class=\"p4\"><span class=\"s2\">With long positions being liquidated and market sentiment shifting toward bearish, AMBCrypto has observed a significant increase in short contracts.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/ondo-finance-price-prediction\" data-wpel-link=\"internal\">Ondo Finance\u2019s [ONDO] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr\/>\n<p class=\"p4\"><span class=\"s2\">According to Coinglass, the press time long-to-short ratio was below 1 at 0.8734, indicating a higher number of short contracts. This suggested a market tilt in favor of shorts.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">If the trend of opening more short contracts continues, it could further drive down ONDO\u2019s price, delaying any potential rally and pushing the asset further from its current level.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/is-bitcoin-overheating-near-100k-3-key-areas-to-watch-for\/\" rel=\"prev\" data-wpel-link=\"internal\">Is Bitcoin overheating near $100K? 3 key areas to watch for<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/binance-scoops-up-596k-ondo-but-bearish-sentiment-remains-what-now\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance recently purchased over $596,000 worth of ONDO, showing growing interest. However, this move has not swayed broader market behavior, as many participants continued selling. Ondo Finance [ONDO] maintained its &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=129673\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-129673","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/129673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129673"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/129673\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}