Ondo Finance token slides 7.9% in a steady overnight decline
The Ondo Finance token traded at $0.431 at 11:40 a.m. ET on Oct. 22, down 7.9% in 24 hours after selling that began Wednesday evening.
The quick take
- Price: $0.431, down 7.9% in 24 hours, according to CoinGecko at 11:40 a.m. ET.
- Trigger: Selling began Wednesday evening and ran into Thursday; no Ondo-specific cause is confirmed.
- Watch: Whether $ONDO wins back part of the ground lost since its 24-hour high of $0.472.
What happened
The Ondo Finance token slides into Thursday afternoon: Ondo Finance ($ONDO) traded at $0.431 at 11:40 a.m. ET (15:40 UTC), down 7.9% in 24 hours, according to CoinGecko.
The drop came slowly, not in one burst. On Binance’s ONDO/USDT pair, the hourly close was $0.4684 at 5 p.m. ET on Wednesday. It eased to $0.4351 by 5 a.m. ET on Thursday and stood at $0.4302 at 11:41 a.m. ET.
CoinGecko put the 24-hour high at $0.472. The token now sits about 80% below its record high of $2.14, set on Dec. 15, 2024. Over 30 days it is almost flat, at -0.2%.
Why it moved
No Ondo-specific cause has been confirmed so far. The selling looked broad: all 10 Solana-ecosystem tokens we track were lower over 24 hours on CoinGecko.
Solana ($SOL) lost 3.9%. Kamino Finance ($KMNO) fell 8.7% and Backpack Exchange ($BP) 8.5%, slightly more than $ONDO.
Who’s buying and selling
CoinGecko counted about $112 million of $ONDO trading over 24 hours. The token’s market value was about $2.1 billion, the 49th largest on CoinGecko.
A second price directory showed the same picture. CoinPaprika listed $ONDO at $0.430, down 7.8% in 24 hours, at 11:45 a.m. ET.
What to watch next
The first thing to watch is whether the broad selling across these tokens fades on Friday. A second is any new product or partnership news from Ondo Finance, which would give the market a token-specific reason to move.
For scale, a return to the 24-hour high of $0.472 would erase the full day’s loss.
Bottom line: The Ondo Finance token lost 7.9% in a slow, steady slide that matched a wider drop across the tokens we track.
Price data: CoinGecko.
Sources
- CoinGecko: Ondo Finance (ONDO) price, 24-hour change, 24-hour high, market value, volume and record high (15:40 and 15:46 UTC)
- Binance: ONDO/USDT hourly closes (15:41 UTC)
- CoinPaprika: Ondo (ONDO) price cross-check (15:45 UTC)
- CoinGecko: Solana (SOL), Kamino (KMNO) and Backpack (BP) 24-hour changes (15:40 UTC)
Not financial advice.
