Binance Acquires $596K in ONDO Amid Bearish Market Concerns

Binance has purchased $596,000 worth of ONDO tokens, indicating institutional interest, yet the broader market sentiment remains bearish. Despite ONDO's recent price gains, a divergence in market behavior is evident as derivative traders continue to sell, leading to a negative Funding Rate and increased short contracts. This suggests potential downward pressure on ONDO's price, despite the accumulation by major players.