ONDO Token Prices Slump 24% Amid Increased Supply

Ondo Finance's [$ONDO] token prices have declined by nearly 24% in recent times, hitting $0.325 at the time of writing.

This downturn comes after a team-linked wallet sent 4.019 million tokens worth around $1.4 million to Coinbase, signaling increased supply and potentially weakening demand for the token.

According to a report from AMBCrypto in late July, the lack of steady buying pressure was seen as a potential bearish turn in Ondo's price action.