ONDO, as a leading project in the RWA track, has a recent token unlock schedule that warrants attention. On the 18th of this month, 1.7 billion tokens will be unlocked. What does this mean for the price? Let's first look at the numbers behind it.

So far, ONDO has only released 48% of its circulating supply, which is 4.8 billion tokens. The remaining 5.2 billion tokens have not yet been listed. At the current price, they are worth approximately $2.2 billion. If all these chips flood into the market at once, the consequences can be imagined.

The upcoming unlock schedule is actually quite clear: in January 2026, January 2027, and January 2028, 1.7 billion tokens will be unlocked each time, accounting for 17% of the total supply. In other words, for every 1 ONDO token currently held, there is another one waiting to be released later.

Who holds these chips? Data shows that DAOs and foundations hold the largest share, accounting for 52%; the team and early investors hold 33% and 13%, respectively. The actions of these major holders directly influence the market rhythm.

By 2026, there are three main things to watch: first, whether the price can stabilize after the unlock; second, whether the team and institutions holding large amounts of tokens will take the opportunity to dump; third, whether the RWA track itself can stay hot.

The logic here is simple: during a bull market cycle, the market has the appetite to absorb this supply pressure; but if the market weakens, the positive effects of the unlock can easily be amplified into panic. So, the key is whether the overall market trend and the track's popularity can stay in sync.