- ONDO price fell 4.37% in one hour to $0.5801, despite remaining up 8.41% over 24 hours.
- The drop triggered about $110,000 in long liquidations across Binance, Bybit, and OKX.
Ondo Finance (ONDO) price dropped 4.37% in just one hour to $0.5801, giving back part of its recent gains as selling pressure picked up. The decline came despite ONDO remaining up 8.41% over the past 24 hours, with roughly $110,000 in long positions liquidated across major exchanges.
ONDO Price Drops Below $0.60
ONDO came under renewed selling pressure during early trading on September 28, with the token falling from $0.6066 to $0.5801 in just one hour. The move marked a 4.37% decline and pushed ONDO back below the $0.60 level after the token had gained strongly over the previous 24 hours.
The pullback came despite ONDO still being up 8.41% over the same 24-hour period. This shows that while sellers quickly pushed the price lower in the short term, the token had not yet given up most of its recent gains.
The price move was recorded on Binance’s ONDO/USDT spot market. The sharp hourly decline also came as trading activity turned more volatile, with leveraged positions adding to the pressure on the market.
Long Liquidations Rise as ONDO Pulls Back
The sharp decline also triggered liquidations among leveraged traders. Long liquidations reached about $110,000 across Binance, Bybit, and OKX during the same one-hour period. Short liquidations were much lower at around $10,000.
The difference suggests that most of the forced selling came from traders who had positioned for further gains in ONDO.
When leveraged long positions are liquidated, exchanges automatically close those trades after prices move against them. This can add further selling pressure during a quick decline.
ONDO Still Up 8.41% in 24 Hours
Despite the hourly drop, ONDO’s broader daily performance remained positive. The coin was still up 8.41% over 24 hours, showing that the latest decline had not erased its earlier gains. The pullback therefore came after a strong upward move rather than during an extended daily decline.
ONDO was also ranked 39th by market capitalization, with a market value of approximately $2.93 billion at the time of the report.
What Happens Next for ONDO Price?
The immediate focus for ONDO traders is whether the token can stabilize after falling below $0.60.
A sustained recovery above that level could help restore short-term momentum, while continued selling could put further pressure on the price. For now, the sharp one-hour decline highlights increased volatility around ONDO despite its strong 24-hour performance.
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