A significant $ONDO purchase was detected recently, as a new wallet created just 11 hours ago spent 4,611 ETH ($17.1M) to acquire 10.978 million $ONDO tokens at an average price of $1.553 amid a market dip.
This development comes ahead of a substantial token unlock scheduled for January 18, 2025, which could have a profound impact on the market.
Key Unlock Details:
The unlock will release 135% of the circulating supply, valued at $3 billion. Currently, $ONDO’s circulating supply stands at 1.43 billion tokens (14.37% of the total supply). Of the unlocked tokens:
– 80% will be allocated to ecosystem growth and protocol development.
– 20% will go to investors.
Early investors stand to gain significantly, with the token’s price surging from an entry price of $0.02 (Series A) to $1.58, marking an 80x return. With $500 million worth of tokens (322 million $ONDO) unlocking for investors—equivalent to 22.4% of the current circulating supply—there is potential for sell pressure. However, its impact will depend on market conditions and investor sentiment.
Price Performance and Ecosystem Implications:
$ONDO has demonstrated impressive growth:
– ICO Growth: A 50x increase from its initial offering price.
– Recent Rally: A 110% surge in the past month, reflecting strong market momentum.
The bulk of the unlocked tokens is earmarked for ecosystem development, which, if managed strategically, could drive long-term adoption. While the 135% surge in circulating supply may risk dilution, incentives for ecosystem growth could counterbalance any negative effects.
$ONDO’s recent rally signals robust demand and confidence among investors. If the project introduces utility programs or updates strategically, the unlock event might even support a bullish narrative, minimizing potential price shocks.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: jtdee23/123RF // Image Effects by Colorcinch
Shockwaves moved through the Solana ecosystem after DeFi dashboard and portfolio platform Step Finance confirmed…
Tether has released its Q4 2025 quarterly attestation, and the numbers confirm what much of…
Lighter is officially stepping beyond its roots as a high-performance perpetual DEX with the launch…
Ethereum co-founder Vitalik Buterin is once again channeling personal capital into the long-term foundations of…
Lido Finance has officially activated Lido V3 on the Ethereum mainnet, introducing a powerful new…
Bitcoin tumbled to around $83,500, marking its lowest level in over a month and triggering…