Ondo Finance Token Prices Plunge by 24% Amid Weak Demand

Ondo Finance's token prices have taken a hit in recent days, sliding by 24% from $0.427 to $0.325. This decline is attributed to a lack of steady buying pressure and weak demand for the asset.

The team behind Ondo Finance has been actively moving tokens on exchanges, with a transfer of 4.019 million tokens worth around $1.4 million to Coinbase recently. While this move does not confirm a sale, it does indicate an increase in ONDO supply in the near term.

Ondo Finance had broken out of a bullish triangle pattern and climbed to the $0.42 supply zone, but the momentum has lost its steam. The asset is currently hovering around key support at $0.30, which may be put to the test if buying pressure does not improve soon.