CandleFocus Ondo Finance price drops amid rising whale activity: what’s next?
2024-11-26
Author: Content Editor
The price of Ondo Finance token (ONDO) has dropped by 13.5% in two consecutive days as the crypto market experiences a correction and whales begin to sell. The sell-off is primarily driven by the weakness in the overall crypto market, particularly with Bitcoin falling from near $100,000 to $92,000. There is evidence of whales selling, as large amounts of ONDO coins have been moved to exchanges. Ondo's network has seen slow growth recently, with most of its assets in the US Dollar Yield and US Treasuries, which offer higher yields compared to other popular assets. Ondo Finance is part of the tokenization industry, which is expected to see significant growth in the future. The price of ONDO has retreated from its recent peak and is currently within an ascending channel pattern. It is likely to retest the support level at $0.8740 before potentially resuming its uptrend and reaching further gains.
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