ONDO is currently under market pressure, with the short-term dominated by derivatives shorts, geopolitical risks, and the impact of large-scale liquidity transfers, resulting in a clear weak price range (USD 0.24-0.26) and insufficient rebound momentum. Although the platform's TVL and asset scale continue to expand, the lack of an actual token revenue-sharing mechanism has caused ONDO’s price to decouple from the platform's fundamentals, pushing valuation lower. It is recommended to monitor the USD 0.242 support. Without fundamental catalysts or any relief in sell pressure, a cautious wait-and-see approach is advised to guard against further downside risk.

Recently, futures open interest dropped by about 6%, primarily due to large-scale liquidations of long positions. Funding rates remained negative, indicating that bearish sentiment prevails. In terms of technical indicators, the Relative Strength Index (RSI) remains in a weakzone, with downward momentum not yet exhausted; the MACD also maintains a death cross pattern, indicating a continued risk of further declines in the short term. Although the price briefly rebounded after testing support near USD 0.2427 on April 12, the overall trading volume did not significantly increase during the rebound, suggesting weak buying interest. There remains a short-term risk of another pullback.

Ondo ($ONDO) is under bearish pressure, threatening the $0.2400 support level as futures Open Interest drops due to heavy long liquidations. The derivatives market shows intense sell-side pressure, with a 6% decline in futures OI and negative funding rates indicating bearish sentiment. Technical indicators like RSI and MACD suggest continued selling, with key supports at $0.2405 and $0.2018, and a break below $0.2000 could worsen the downside risk.

Ondo Price Forecast: Bearish setup persists as futures positioning turns risk-off

On April 9, after a brief upward move, the market quickly pulled back, with overall sentiment negatively impacted by renewed escalations in Middle East conflicts. ONDO saw a single-day decline of about 5.6%, touching an intraday low of USD 0.2493. Meanwhile, the RWA sector led the losses, showing that investors shifted away from risk assets amid heightened risk-aversion. Candlestick data show a significant spike in volume that day, indicating concentrated selling pressure and a market highly sensitive to external events in the short term.

The crypto market briefly surged but then declined, showing a widespread downward trend influenced by renewed Middle East conflicts. The RWA sector led losses with a 4.18% drop, including Pendle down 5.94% and Ondo Finance down 5.64%. Bitcoin fell 0.95% below $71,000, while Ethereum dropped 2.72%, retreating to just above $2,100.

The crypto market surged and then pulled back, with the RWA sector leading the decline at 4.18%.

In the past month and a half, the platform’s multi-signature wallet cumulatively transferred approximately 116 million ONDO tokens, valued over USD 30.21 million, mainly to Coinbase in batches. Such regular large deposits onto exchanges tend to increase sell-side pressure. Without sufficient buy-side absorption, this could exacerbate short-term sell pressure and drive prices lower.

Over the past month and a half, Ondo Finance's multisig wallet has transferred approximately 116 million ONDO tokens, valued at about $30.21 million, to Coinbase. The transfers occur weekly, with around 20 million ONDO moved to another multisig address before being split into multiple transactions sent to Coinbase.

Ondo Finance's multi-signature wallet has been continuously transferring ONDO to Coinbase for nearly a month and a half, with a cumulative total of 116.00 million tokens.

Although the platform’s total value locked (TVL) has climbed to USD 3.567 billion and custodial assets have expanded to USD 33.5 billion, the price of ONDO has fallen from USD 0.463 to around USD 0.253—a drop of over 45%. Capital has increasingly flowed toward stock and ETF tokenization products, reflecting that the ecosystem’s token lacks a dividend mechanism directly tied to platform revenue. This has prevented effective conversion of platform value into token price support, resulting in continued pressure on medium- and long-term valuation.

Ondo

UBS: Still expects the Federal Reserve to cut interest rates by 50 basis points later this year.

China expected to keep benchmark lending rates steady after strong GDP data

The European Central Bank will raise interest rates in June as the Iran war drives inflation higher this year, a Bloomberg survey showed.

Important news from last night and this morning (April 16 - April 17).

Bank of Japan Governor: We need to simultaneously address rising energy prices and economic downturn risks; policy-making is very difficult at this stage.

BOJ chief avoids hints of April rate hike, shattering hawkish market bets

ECB policymakers play down April rate hike chances

Declining energy prices have moved the euro-zone economy back toward the European Central Bank’s base case and may mean interest-rate increases aren’t needed, according to Governing Council member Primoz Dolenc.

Fed’s John Williams Signals Support for Holding Rates Steady Ahead of FOMC Meeting

Israeli envoy warns of reaction if threatened, straining Israel-Iran relations

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ONDO price today is 0.27, with a live price change of 1.17 in the last 24 hours. Convert, buy, sell and trade ONDO on Bybit-eu.

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