Ondo Finance (ONDO) has been experiencing significant growth recently, maintaining a bullish trajectory over the past week with a remarkable 45% surge.
Adding to the positive sentiment, Santiment’s data reveals a rise in substantial ONDO transactions, with token transfers exceeding $100K increasing from 68 to 91 within the last day.
This surge in market-moving transactions coincides with the recent news of BlackRock’s foray into the RWA sector through the launch of a tokenized digital fund.
The increased whale activity aligns with a notable decrease in the token’s supply on crypto exchanges, dropping from 536.64 million to 529.6 million over the past 24 hours. This indicates a growing tendency among investors to hold onto their assets in anticipation of further price increases.
Ondo Finance’s Expansion: The real-world asset tokenization company has experienced rapid growth since entering the Asia Pacific market earlier in 2024, enabling it to tap into a thriving industry and offer global investors access to tokenized United States assets.
BlackRock’s venture into the realm of real-world asset tokenization has generated optimism within the tokenization market.
The rising interest in tokenized real-world assets bodes well for Ondo Finance’s expansion, translating into significant growth for ONDO prices.
Introduction of Ondo Global Markets: Ondo Finance recently launched Ondo Global Markets, a platform designed to bridge traditional and decentralized finance (DeFi) by facilitating the digital representation of real-world assets.
Current Price Movements:
After reaching an all-time high of $0.8162, supported by reliable levels at $0.6931, ONDO is currently trading at $0.7095. Although it experienced slight declines, last week’s bullish performance propelled it into the top 100 list by value, with a market capitalization of $1,048,139,298.
However, investors should anticipate a short-term correction as the Relative Strength Index (RSI) indicates overbought conditions.
Overall Outlook:
The current outlook for Ondo Finance reflects a growing level of investor confidence in the project and its RWA tokenization services.
