ONDO experiences a whale dump. About 6 hours ago, 25 million ONDO tokens were transferred in a single transaction from a multi-signature wallet, then dispersed to five top-tier exchanges—this move is driven by the upcoming massive unlock scheduled for January 18. The numbers are staggering: 1.94 billion ONDO tokens are about to be released, accounting for nearly one-fifth of the total supply.

The leading project in the RWA track, which originally had promising prospects, is being repeatedly eroded by this scheduled release curse. The annual large unlocks are like a sword hanging over the head, making it difficult for the token price to escape the downward pressure. Some have tasted success on ONDO—earning 2 million RMB in just two months of spot trading, buying at a cost of 0.74U and exiting around 1.5U, which is indeed impressive. But such opportunities are always rare; most traders either buy at the high before the unlock or cut losses at the lows after the release. The tokenomics design and release schedule of the project determine that ONDO is far more than just a trading asset—it’s a game of time.