On January 18, Ondo Finance will release 1.94 billion ONDO tokens, potentially shaking up its ecosystem. This massive unlock, equivalent to 19.4% of maximum supply, raises questions: selling pressure or growth opportunity?
Ondo: $3 billion in tokens will be released in January
As the new year 2025 begins, the rules have not changed: many token unlocks are to be expected. However, one token release in particular deserves attention: that of ONDO tokens from the Ondo Finance protocol.
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Indeed, the latter is particularly substantial. These are not less than 1.94 billion ONDO who will be released on January 18for a value of approximately 3 billion dollars while writing these lines.
Overview of progressive unlock tokens for ONDO
Ondo Finance is a protocol halfway between decentralized finance (DeFi) and real assets (RWA). The Ondo Finance platform offers stablecoins like USDY and OUSG which provide returns, thanks to their collateralization in US Treasury bills.
On January 18, Ondo will release 19.4% of its maximum supply, or 134% quantity released compared to the supply in circulationwhich could create selling pressure on the price of the ONDO token. However, according to crypto analytics platform Tokenomist, 80% of this allocation is reserved for the development of the ecosystem while 20% is intended for investors.
Thus, this event could also be beneficial to the ecosystem by giving it the financial means to form new partnerships and launch new incentive programs to attract and retain new users. This also means that the impact of this unlock should be moderated, since these new tokens will not literally land on the market.
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The 5 other unlocks to watch out for in January
Although the Ondo unlock is particularly significant, other unlocks will be worth watching in January, notably for the MOVE, APT, ARB, IMX and OP tokens:
Token unlocks to watch out for in January
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Movement (MOVE)
- Quantity : 50 million MOVE tokens;
- Value (06/01): $55.16 million;
- Quantity released in relation to the supply in circulation: 2.22%.
The Movement project, developed by Movement Labs, aims to create a network of modular blockchains based on the Move language, initially developed by Facebook. Supported by the launch of its layer 2 M2 and the creation of its own M1 blockchain, Movement Labs offers open source tools, frameworks and protocols to develop the Move language in Web3.
In December, Movement carried out an airdrop totaling 1 billion MOVE tokens, or 10% of its maximum supply. Although the founders of the project dreaded this decisive step for the project, it seems that the events that followed were favorable to them.
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Indeed, the Movement Labs airdrop was very well received by the crypto community. While MOVE was trading around $0.66 when it was launched, it is currently trading around $1.08, which represents an increase of 164%.
On January 9, 50 million MOVE tokens will be released, representing over $55 million as of this writing. The quantity released compared to the supply in circulation is approximately 2%.
Aptos (APT)
- Quantity : 11.31 million APT tokens;
- Value (06/01): $111.62 million;
- Quantity released in relation to the supply in circulation: 2.03%.
Aptos is a layer 1 blockchain, also based on the Move language. With a theoretical capacity of 100,000 transactions per second (TPS) and a latency of less than a second, Aptos defines itself as the “ safest and most scalable blockchain »
The price of the APT token is moving close to $10 per unit, or approximately -50% of its price record (ATH). Remember that its main competitor, SUI, is setting new ATHs day by day.
On January 12, more than 11 million APT tokens will be released, worth almost $112 million. The quantity released compared to the supply in circulation is approximately 2%.
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Arbitrum (ARB)
- Quantity : 92.63 million ARB tokens;
- Value (06/01): $82.74 million;
- Quantity released in relation to the supply in circulation: 2.19%.
Arbitrum is a layer 2 solution for the Ethereum blockchain. Its objective is to improve the scalability of the latter by off-chain transactions using optimistic rollup technology.
On January 16, Arbitrum will release nearly 93 million ARB tokens, worth approximately $83 million. This release of tokens represents more than 2% of the market cap.
Although the Arbitrum network has been very popular, particularly during the last bear market, it has suffered a notable loss of speed: the price of the ARB token is at -61% of its ATH and on-chain data demonstrates a desertion of capital on the Arbitrum blockchain.
Indeed, according to the on-chain analysis platform Artemis Terminal, Arbitrum is the blockchain that has recorded the most net outflows over the last 30 days. Over this period, there are nearly $596 million in net outflows which were recorded.
Net capital inflows and outflows on some blockchains
This phenomenon can partially be explained by the rise in power of layer 2 Base, which, over the same period, recorded nearly $809 million in net inflows.
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Immutable (IMX)
- Quantity : 24.52 million IMX tokens;
- Value (06/01): $35.35 million;
- Quantity released in relation to the supply in circulation: 1.43%.
The Immutable blockchain is a layer 2 solution on Ethereum. It is designed to improve the developer and user experience in video games, Web3 and NFTs. Immutable uses Zero-Knowledge (ZK) rollup technology developed by StarkWare to deliver fast, secure, and low-cost transactions.
On January 24, Immutable will release 24.5 million IMX tokens, worth over $35 million. This release represents approximately 1.5% of IMX's market cap.
The price of the IMX token has fallen by almost 30% over the last 30 days, bringing its price to $1.46.
Optimism (OP)
- Quantity : 32.21 million OP tokens;
- Value (06/01): $66.74 million;
- Quantity released in relation to the supply in circulation: 2.38%.
Optimism is also a layer 2 solution for the Ethereum blockchain. Based on optimistic rollup technology, Optimism also offers the OP Stack, from which successful blockchains like Base are built.
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On January 31, Optimism will release more than 32 million OP tokens, worth nearly $67 million. This token unlock represents 2.38% of OP's market cap.
Although the price of the OP token is -57% from its ATH, sentiments about this project are rather positive in the crypto community. Indeed, Optimism regularly carries out airdrops to its users, with the last one dating from the beginning of October.
🪂 Become eligible for the next Optimism airdrop
Additionally, on-chain data from Artemis Terminal demonstrates net inflows of $42.5 million over the last 30 days on the OP mainnet.
Although many projects have planned to release tokens in January, the unlock token to watch carefully will undoubtedly be that of Ondo Finance. With its 1.94 billion ONDO tokens which will be released on January 18, it will be interesting to observe the repercussions on the price of the token and on the development of its ecosystem.
Sources: Cryptorank, Artemis Terminal
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Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In a perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provide weekly fundamental analysis.
Theo Zananiri
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