ONDO Bears Gain Momentum as Team's Token Deposits Weaken Support

ONDO, an altcoin, has been experiencing strong downside pressure since it was rejected at $0.42.

It closed at lower lows for four consecutive days after the rejection and eventually breached its $0.4 support price.

The altcoin dropped to a two-week low of $0.34 and is currently trading around $0.37, down 5.28% on the daily charts, extending the 10% weekly drop.

This downward trend appears to be largely driven by the team's token deposits into exchanges.