ONDO Finance Sees 390% Increase in New Addresses Following Network Expansion
Ondo Finance reported a 390% increase in new addresses within 24 hours, rising from 935 to 4,559. This coincided with a 5.5% price increase for #ONDO.
The surge follows the announcement of expanding tokenized US Treasuries to the Stellar Network, potentially adding $10 million in annual yield. This aligns with the trend of integrating real-world assets (RWA) into blockchain.
- Total value locked (TVL) has grown by 50% since early February, currently around $1 billion.
- ONDO has a market cap of $2.65 billion, ranking 34th among cryptocurrencies.
- Current trading volume is $250 million.
ONDO Price Outlook
- ONDO's price is near the lower Bollinger Band, indicating potential oversold conditions.
- RSI is at 37, suggesting an increase in buying pressure could lead to upward movement.
- MACD indicates bearish sentiment; holding above $0.80 may enable a breakout above $1.00 towards $1.50.
- Analysts see bullish potential due to increasing adoption of RWAs.
- Crypto General predicts a price target of $7–$10 during this bullish season.
However, if ONDO breaks below its support level, prices could revisit $0.60 amid broader market downturns.