Ondo Finance token drops 5.7% in a slow slide into Saturday

The Ondo Finance token traded at $0.409 at 8:40 a.m. ET on Oct. 24, down 5.7% in 24 hours after a slide that ran from Friday afternoon into Saturday.

The quick take

Price: $0.409, down 5.7% in 24 hours, according to CoinGecko at 8:40 a.m. ET.
Trigger: Steady selling from Friday afternoon into Saturday morning; no Ondo-specific cause is confirmed.
Watch: Whether $ONDO holds above its 24-hour low of $0.404.

What happened

The Ondo Finance token drops into the weekend: Ondo Finance ($ONDO) traded at $0.409 at 8:40 a.m. ET (12:40 UTC) on Saturday, down 5.7% in 24 hours, according to CoinGecko.

The slide came in small steps, not one sharp drop. On Binance’s ONDO/USDT pair, the hourly close was $0.435 at 10 a.m. ET on Friday. It eased to $0.425 by 4 p.m. ET and $0.417 by 7 p.m. ET, then reached $0.406 at 6 a.m. ET on Saturday.

CoinGecko put the 24-hour range at $0.404 to $0.436, so the token sits near the bottom of its day. It is about 81% below its record high of $2.14, set on Dec. 15, 2024.

Why it moved

No Ondo-specific cause has been confirmed so far. The selling fits a soft day across the tokens we follow: nine of the 10 Solana-ecosystem tokens we track were lower over 24 hours on CoinGecko.

Solana ($SOL) lost 2.8%. The only gainer was Kamino Finance ($KMNO), up 5.0%.

The largest coins fell less. Bitcoin ($BTC) slipped 1.2% and Ether ($ETH) 1.3% over 24 hours, according to LiveCoinWatch.

Who’s buying and selling

CoinGecko counted about $90 million of $ONDO trading over 24 hours. The token’s market value was about $2.0 billion, the 49th largest on CoinGecko.

Two other price trackers showed the same picture. LiveCoinWatch listed $ONDO at $0.411, down 5.4%, and CoinPaprika at $0.409, down 5.2%.

What to watch next

The weekly picture is weaker than the daily one. $ONDO is down about 10% over seven days and 9.7% over 30 days on CoinGecko.

The first thing to watch is whether the token holds above its 24-hour low of $0.404 through the weekend. A second is any product or partnership news from Ondo Finance, which would give traders a token-specific reason to move. For scale, a return to the 24-hour high of $0.436 would undo the full day’s loss.

Bottom line: The Ondo Finance token lost 5.7% in a slow slide from Friday into Saturday, a bigger drop than Bitcoin or Solana, with no project news behind it.

Price data: CoinGecko.