ONDO falls to two-week low as team dumps $1.56M tokens on Coinbase, pressuring price below $0.4

ONDO's price dropped to a two-week low of $0.34 after the Ondo Finance team deposited 4 million ONDO tokens worth $1.56 million to Coinbase, continuing a series of sell-offs totaling 20.2 million tokens. This heavy selling pressure has outweighed steady market demand, causing the token to fall below its $0.4 support level and extend its weekly decline to 10%. Technical indicators suggest the bearish trend may continue, with potential further drops to $0.33 unless buying interest strengthens to reclaim $0.4. The situation highlights how team token sales on exchanges can negatively impact investor sentiment and price momentum.