TLDR
- Ondo price fell 6.1% in 24 hours, trading near $0.35 and close to the lower end of its daily range.
- ONDO is testing a key technical neckline, with analysts watching for a possible double-top breakdown.
- A legal dispute has emerged over control of Ondo Finance following founder Nathan Allman’s death in May.
- Kathleen Allman is seeking to remove CEO Ian De Bode, while De Bode disputes the claims and retains investor support.
- More than 10 million ONDO tokens reportedly moved to exchanges, drawing attention to potential selling pressure.
Ondo (ONDO) price fell 6.1% over the past 24 hours and traded near $0.35 as fresh selling pressure hit the token during the latest session across major crypto markets. ONDO moved close to the lower end of its $0.3438 to $0.3751 daily range, while its market value stood near $1.71 billion.
The decline came as traders watched both a bearish chart setup and a growing legal dispute over control of Ondo Finance. The latest developments have added uncertainty around the company while derivatives data shows weaker bullish positioning.
Ondo Price Tests Key Technical Support
Market analyst Crypto With Gopal said ONDO was forming a double-top pattern, with price struggling to move above resistance. The setup points to weakening buyer momentum while sellers continue to defend recent highs.
$ONDO$ONDO is printing a textbook double top
Price is struggling to break above resistance, showing buyers are losing momentum while sellers continue defending the highs.
A break below the neckline could confirm the bearish reversal, with market psychology shifting in favor… pic.twitter.com/2aetBm1KiK
— Crypto With Gopal (@cryptowithgopal) August 7, 2026
The analyst said a break below the neckline could confirm a bearish reversal. Bulls would need to recover recent highs to reduce near-term downside pressure. The neckline remains a key level for traders watching the Ondo price trend.
Control Battle Follows Founder’s Death
Ondo Finance faces a legal fight after founder Nathan Allman died on May 25. His mother, Kathleen Allman, filed a case in the Delaware Court of Chancery seeking to remove CEO Ian De Bode and gain control of the company.
Kathleen Allman claims Nathan held majority voting control, which passed to his estate after his death. She said a July 24 board meeting voted to remove De Bode and appoint her interim CEO. De Bode rejected the claims and said the case lacked merit.
Investors Back Current Leadership
De Bode said Ondo Finance continues to receive support from key investors and the Ondo Foundation. The company, founded in 2021, has received backing from Coinbase, Wintermute, Tiger Global, and Founders Fund.
Market activity turned defensive after the dispute became public. More than 10 million ONDO tokens reportedly moved to exchanges, raising attention around potential selling activity as the Ondo price weakened.
Derivatives Data Shows Bullish Positions Shrinking
CoinGlass data showed ONDO futures open interest fell 7% in 24 hours to $176.95 million. The decline suggests traders reduced positions as the spot market moved lower.
Source: CoinGlass
Long liquidations reached about $941,190, far above roughly $6,780 in short liquidations. Funding also turned negative at -0.0004%, showing weaker demand for bullish leveraged positions while sellers held greater control.
The post Ondo (ONDO) Price Slides 6% as Control Battle Deepens appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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