According to on-chain data tracking, significant activity has occurred with the ONDO token. Six hours ago, 25 million ONDO tokens (worth approximately $10.19 million) were transferred from Ondo's official multi-signature wallet, then split into five streams and flowed into several major exchanges. These include Coinbase, a leading exchange, another major exchange, Gate, KuCoin, and others. This large transfer immediately drew market attention—whether it is the project's liquidity arrangement or institutional positioning? Based on ONDO's recent market performance, such large on-chain activities often have a certain impact on price movements. For holders and traders, real-time monitoring of whale movements is becoming increasingly important.