Altcoin Market Faces $3 Billion Token Unlock This Week Including ONDO
The upcoming token unlocks this week may lead to increased volatility in the altcoin market. Key points include:
- Token unlock schedule releasing $3 billion worth of assets, the largest since November.
- Ondo Finance's ONDO token represents a significant portion, with 1.94 billion ONDO (valued at $2.23 billion) unlocking on January 18.
- This amount exceeds 130% of ONDO's circulating supply of approximately 1.4 billion tokens.
- Recent daily trading volume for ONDO ranged from $250 million to $300 million.
- Staggered token releases aim to prevent market instability and large price swings.
- Similar unlock events can cause volatility, especially when they exceed 100% of average daily trading volume.
At press time, ONDO traded at $1.14, marking a 5% decline for the day and nearly 15% month-to-date. Prices have dropped significantly since reaching over $2.10 on December 16.