Although the goal of this article is to provide relevant and accurate information. It should not be interpreted as investing or financial advice. We advise you to independently ONDO Token confirm the information. Seek expert advice before making any decisions based. This content is because market circumstances are subject to sudden changes.
ONDO Token Set for Volatile
ONDO’s upcoming $2.23 billion unlock surpasses its current circulating supply by 130%.Unlocks exceeding daily trading volumes often lead to price swings. Bitcoin price It appears that the altcoin market might be looking at a potentially volatile week ahead, especially for the ONDO token ONDO. That is, as billions of dollars worth of altcoins are set to flood the market.
While many coins are set to add to the altcoin market supply in the week, data from Tokenomist confirms that Ondo Finance’s ONDO token will be leading the charge.ONDO, alongside other coins like ARB ARB$0.72, STRK STRK$0.41, SEI SEI$0.37, are billed to unlock tokens worth a whopping $3 billion in the week, the largest weekly amount since November.
Volatility Ahead for Altcoin Market
As Tokenomist says, Ondo Finance will release 1.94 billion ONDO tokens on January 18, worth about $2.23 billion. Notably, the numbers already signal how big a deal this token release is. This is especially true considering that the figure exceeds the current circulating supply of 1.4 billion by over 130%. So, by all means, the ONDO token unlock is looking more likely to be a major event in the altcoin market.
The ONDO unlock also exceeds the token’s daily trading volume by a landslide. So, it might be safe to say that market activity will also pick up significantly in the coming days. For what it might be worth, token unlocks refer to staggered releases of crypto tokens. These tokens, as they were, ONDO Tokens are initially locked to prevent early investors or project insiders from dumping large amounts of tokens on the market.
Token Faces Volatility Before Unlock Event
The market typically responds with greater volatility when an unlock event generates more tokens than the average trading volume or circulating supply, as has been observed with ONDO. That’s what The Tie’s investigation has discovered, anyway. According to The Tie, these token release occasions frequently demonstrate the token’s extreme volatility. In other words, before and after the incident.
ONDO was trading at $1.12 at of writing, the lowest level since December 2, according to the Coinspeaker pricing page. Bitcoin price This represents a 41.6% monthly decline in addition to an 8.74% daily decline. Notably, since hitting a record high of $2.10 on December 16, the token has been on a steep decline.
Summary
Given that its release will surpass its current circulating supply by 130%, the ONDO token, which is scheduled to unlock for $2.23 billion on January 18, is experiencing tremendous volatility. The altcoin market may see significant price fluctuations as a result of this unlock, which surpasses everyday trade volumes. In addition to ONDO.
Billions more tokens are being unlocked by other tokens like ARB, STRK, and SEI, which could cause market volatility. Large-scale token unlock events have historically resulted in more volatility; this is the case with ONDO, which has fallen 41.6% in the past month. Since its top of $2.10 on December 16, ONDO has experienced a sharp fall, currently trading at $1.12.
