ONDO Leads The $3B Weekly Token Unlock Schedule That Could Shake Up The Altcoin Market
Ondo Finance is set to release 1.94 billion ONDO tokens on January 18, which represents over 130% of its circulating supply, valued at approximately $2.23 billion. This token unlock week will collectively release $3 billion worth of tokens across multiple coins, the largest such event since November. The ONDO unlock is particularly significant as it exceeds the average daily trading volume of the token, which has recently varied between $250 million to $300 million. Typically, token unlocks are staggered to minimize market instability, but the volume in this case could introduce notable volatility in the altcoin market. As of the article's publication, ONDO was trading at $1.14, marking a 5% decrease for the day and a 15% decline so far in January. Ondo's price has seen a downward trend since reaching highs above $2.10 in December.
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