Ondo Finance’s native token, ONDO, surged nearly 8% today following the announcement of its spot market listing on a prominent crypto exchange.
Major Listing Boosts ONDO Price
Coinbase-backed Ondo Finance has garnered significant investor interest, securing a major spot market listing on the globally renowned CEX, OKX. The announcement led to a nearly 8% rally in ONDO’s price, sparking discussions among crypto market participants.
OKX Announces ONDO Listing
On July 29, OKX officially revealed plans to list the Ondo Finance token on its spot market, paired with USDT (ONDO/USDT). Trading began today at 8 AM UTC, with deposits opening an hour earlier at 7 AM UTC.
Ondo Finance’s DeFi Platform
Ondo Finance is a DeFi platform specializing in the tokenization of real-world assets (RWA). The project’s tokenomics and distribution are as follows:
- 5.21 billion for ecosystem growth
- 3.3 billion for protocol development
- 1.29 billion for private sales
- 198 million for community access sales
ONDO Price Rallies
As of writing, the ONDO token has soared 7.68%, trading at $1.04. The 24-hour lows and highs were $0.9639 and $1.05, respectively.
Derivatives Data Indicates Further Growth
According to Coinglass, the Ondo Finance futures open interest (OI) surged 10.52% to $146.88 million, indicating further inflow of money into the crypto. This listing, combined with recent market stats, has shifted market sentiment to an optimistic outlook.
