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crypto.news 2025-01-17 19:55:39

Ondo poised for 1.9b token unlock

Ondo Finance, the real-world assets tokenization platform, is preparing for a major unlock of its governance token. According to Tokenomist, Ondo Finance ( ONDO ) will unlock more than 1.9 billion locked ONDO tokens on January 17, 2025, at 7 PM EST. The total value of the unlock, which accounts for a 134% influx, is estimated to be worth about $2.44 billion. Tokenomist, previously TokenUnlocks, shows ndicates that the upcoming ONDO release will be divided into three key allocations: Approximately 792 million ONDO (40% of the unlock) is allocated for ecosystem growth, while around 825 million ONDO (42%) is earmarked for protocol development. The remaining tokens will go toward private sales. You might also like: XRP could surpass ETH’s market cap: Messari analyst Huge tokens unlocks normally see a bearish reaction from the market, which in this case could see ONDO price dip. The altcoin was trading around $1.25, slightly in the red on the day, as the protocol moved closer to the massive supply influx. However, ONDO’s price rose alongside the broader market over the past year following its last token unlock. The cryptocurrency’s value has surged 673% in the past year, climbing from lows of $0.26. Ondo Finance has also recorded significant traction in the RWA market, with its Ondo U.S. Dollar Yield and Ondo Short-Term Government Bond Fund among tokenized treasuries assets to push the market to over 100% up in the past year to $4 billion. According to DeFiLlama, the total value locked in Ondo Finance spiked from $192 million in January 2024 to a peak of $650 million in October. At the time of writing, the TVL stood at $543 million. You might also like: Ondo Finance and Plume Network team up to expand RWAfi use cases