- ONDO price faces more bearish pressure from upcoming token unlock.
- Crypto investors also look forward to the upcoming iDEGEN (IDGN) token listing.
- While the ONDO token unlock could lead to a price drop, the iDEGEN listing is expected to surge in price.
The cryptocurrency market is buzzing with anticipation as two distinct events loom on the horizon: the Ondo Foundation token unlock and the impending exchange listing of iDEGEN.
Ondo Foundation’s ONDO token has been under pressure, with its price declining amid bearish signals, while iDEGEN ($IDGN) is capturing attention with its innovative AI-driven approach and dynamic presale.
Ondo token unlock adds to its bearish stance
The Ondo Foundation is gearing up for a significant event where 20% of ONDO tokens are set to be unlocked on January 18. This unlock will increase the circulating supply to 134% of what it currently is, potentially flooding the market with new tokens.
Ondo Foundation would like to note in advance to the community that, in the coming days, there will be a variety of locked ONDO transfers in preparation for the first release from the Global Lock-Up.
These transfers are primarily for the purpose of locked token holders…
— Ondo Foundation (@OndoFoundation) January 12, 2025
Historically, such events introduce selling pressure as early investors, team members, or those who were holding locked tokens might decide to cash out.
The recent ONDO price performance where it has dropped by more than 21% over the past week, coupled with declining daily active addresses, and negative funding rates, suggests a bearish market sentiment.
The token unlock could exacerbate this, pushing the price further down if a large portion of these tokens are sold off immediately.
However, the reaction to the unlock isn’t solely dependent on the immediate sell-off. If Ondo can demonstrate strong fundamentals, perhaps through project updates or partnerships, it might mitigate some of the negative impacts. Yet, the immediate aftermath might still see a dip due to the increased supply.
iDEGEN presale could be a more stable investment opportunity
As ONDO faces its challenges, the crypto community’s eyes are also on iDEGEN, a unique AI-powered token that’s about to make its exchange debut.
iDEGEN has already stirred excitement with its community-driven learning model and a dynamic presale that adjusts price based on the number of purchases. This has not only raised significant funds but also built a narrative around community participation. The iDEGEN AI is designed to evolve depending on tweets from the community on X (formerly Twitter).
iDEGEN’s listing in January could divert some attention from ONDO. With the crypto market often influenced by hype and FOMO, the novel approach of iDEGEN might draw investment away from other tokens, including ONDO, especially if the community sees more potential in iDEGEN’s long-term narrative.
However, it’s not all about competition. The excitement around iDEGEN could also inject overall enthusiasm into the crypto market, potentially benefiting all tokens if the market sentiment improves.
While the Ondo token unlock seems poised to introduce short-term bearish pressure, the broader market dynamics, including the influence of iDEGEN’s exchange listing, will play a crucial role.
As investors watch how Ondo’s community and developers manage the upcoming token unlock, they should also keep an eye on how the market reacts to iDEGEN’s entry into the mainstream trading platforms.
The post Ondo price prediction after token unlock as iDEGEN nears exchange listing appeared first on CoinJournal.
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