Ondo Finance token slips 5.4% as selling runs into Saturday

Ondo Finance token slips 5.4% as selling runs into Saturday morning

Ondo Finance ($ONDO) traded at $0.327 at 7:40 a.m. ET on Saturday, Nov. 14, down 5.4% in 24 hours as the wider crypto market slipped.

The Ondo Finance token slips again as selling carries into Saturday morning. Ondo Finance ($ONDO) traded at $0.327 at 7:40 a.m. ET, down 5.4% in 24 hours, according to CoinGecko.

The quick take

Price: $ONDO $0.327, -5.4% ↓ in 24 hours (CoinGecko, 12:40 UTC).
Trigger: A slide that began Friday morning ran through the night, with no new announcement from the project.
Watch: Whether $ONDO holds above the $0.325 low of the past day on Binance’s ONDO/USDT pair.

What happened

LiveCoinWatch showed a close reading of $0.330, down 5.2%. Over seven days, $ONDO is 10.3% lower, per CoinGecko.

The past day started on a firmer note. On Binance’s ONDO/USDT pair, hourly closes peaked near $0.351 on Friday morning in New York. The token then drifted lower and closed near $0.329 late Friday night.

CoinGecko puts the 24-hour high at $0.354. Binance’s pair shows a high of $0.355 for the same window.

Why it moved

The drop came during a weak day for the whole market. Bitcoin ($BTC) fell 2.9% to $67,191 and Ether ($ETH) fell 2.6% to $1,906 over 24 hours, per LiveCoinWatch at 12:41 UTC. Solana ($SOL) lost 6.0%, according to CoinGecko.

Ondo Finance has posted no new announcement in this window. The latest post on its blog, from Nov. 12, covers Ondo stocks used as collateral on Spout. The cause of the drop is not confirmed.

Who’s buying and selling

Trading stayed active through the slide. CoinGecko counts $85.9 million in 24-hour volume, against a market value of $1.59 billion. That ranks $ONDO 54th among all coins on CoinGecko.

On Binance’s ONDO/USDT pair, the 24-hour range ran from $0.325 to $0.355. By morning in New York, the price sat close to the bottom of that range.

What to watch next

The bottom of that Binance range, $0.325, is the nearest level on the chart. A climb back above Friday’s hourly peak near $0.351 would be needed to undo the overnight slide.

For scale, $ONDO still trades about 85% below its record high of $2.14, set on Dec. 15, 2024, per CoinGecko.

Bottom line: The Ondo Finance token is falling with the wider market this Saturday, and no project news explains the move so far.