Whale Accumulates $ONDO As Major Token Unlock Looms

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.

Massive $ONDO purchase detected!

This whale created a new wallet 11 hours ago and has since spent 4,611 $ETH ($17.1M) to buy 10.978M $ONDO at an average price of $1.553 during the market crash.

Follow @spotonchain and track this whale’s address at https://t.co/t3unrYyZMN pic.twitter.com/GDEYAYt7Ux

— Spot On Chain (@spotonchain) December 10, 2024

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.

Analyzing upcoming $ONDO unlock on Jan 18th, 2025