Ondo Finance’s ONDO token has lost nearly 24% of its value, falling from $0.427 to $0.325, after breaking down from a bullish triangle pattern and suffering from a lack of sustained buying pressure. A team-linked wallet transferred 4.019 million tokens worth approximately $1.4 million to Coinbase, signaling potential increased supply in the market. Trading volume has declined since May and the daily timeframe structure remains bearish, reinforcing negative long-term prospects. With cumulative long leverage significantly outweighing short leverage, the price could slide toward the $0.30 support level before any bounce. Ondo Finance has also submitted a no-action request to the SEC regarding the tokenized representation of securities entitlements on Ethereum.
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