ONDO has gained over 3.5% in the last 24 hours, reaching $1.37.
The surge follows the announcement of Ondo Global Markets, a platform for onchain access to traditional financial instruments.
ONDO faces resistance at $1.50, with support at $1.20, and a breakout could push the token to $2.
Ondo Finance’s native token ONDO is trading around $1.37 after gaining over 3.5% in the past 24 hours. This bullish surge in ONDO price follows the announcement of Ondo Global Markets (Ondo GM), a platform aimed at facilitating onchain access to traditional financial instruments such as stocks, bonds, and ETFs.
The of Ondo GM aims to bypass what the company describes as a “broken investment ecosystem” marked by high fees and platform fragmentation. Notably, Ondo is already the world’s third-largest tokenized Treasury issuer, as per the data by rwa.xyz.
ONDO Price
ONDO currently boasts a market cap of $4.29 billion and ranks 28th among the largest cryptocurrencies. On the daily ONDO price chart, the Moving Average Convergence Divergence (MACD) line remains slightly negative but hints at a possible crossover, signaling growing bullish momentum.
Meanwhile, the Accumulation/Distribution (A/D) indicator points to sustained accumulation as more investors show interest in the token.
Source: TradingView
Current resistance stands at $1.50, with $1.20 emerging as a critical support level. A strong breakout above the immediate resistance could pave the way for further gains, potentially pushing ONDO toward $2.
On the other hand, if support at $1.20 fails, ONDO may face heightened selling pressure, with $1.02 emerging as the next key support zone.
A Year of Remarkable Growth
ONDO has seen a 500% surge in its value in the past year. Notably, the token witnessed a sharp upward trajectory following the US election results in November, tripling its value within just 40 days.
Renowned crypto analyst “Master of Crypto” his bullish outlook for ONDO on X, noting the ongoing ONDO Summit, where significant announcements are being made. He also pointed out Ondo’s partnership with BlackRock’s BUIDL, which further solidified its position in the RWA sector. According to the analyst, there is a huge upside potential for ONDO price, given it holds the critical support of $1.20.
The recent bullish trend reflects market confidence in Ondo Finance’s strategic initiatives, particularly its focus on tokenized real-world assets. Notably, the RWA sector has seen major growth recently, with cumulative values reaching new highs. As of writing, the total value of top RWA tokens $60 billion, as per the data by CoinMarketCap.
According to industry experts, the RWA market could see more than 50-fold growth by 2030, potentially reaching a market size of between $4 trillion and $30 trillion. Moreover, a potentially clear regulatory framework under the Trump administration could provide a foundation for the sector.