An address linked to the Ondo Finance team deposited 13.43 million ONDO to Coinbase, extending a stretch in which the same wallet is estimated to have sold about $29.94 million worth of the token over the past 30 days while still holding roughly $12.68 million on-chain. Traders often read exchange deposits as a sign tokens may be prepared for sale, though transfers alone do not confirm immediate liquidation. The move also renews focus on supply overhang risk in ONDO, the native token of a platform focused on tokenized real-world assets, where team-linked wallet activity can influence market sentiment even when no official reason for the transfer has been disclosed.