ONDO Price Increases 3.5% Following Launch of Ondo GM Platform
ONDO Finance Update
The native token ONDO is trading at $1.37, up over 3.5% in the last 24 hours. This increase follows the announcement of Ondo Global Markets (Ondo GM), a platform for on-chain access to traditional financial instruments like stocks and bonds.
Key points:
- Ondo GM aims to address high fees and fragmentation in the investment ecosystem.
- ONDO is the third-largest tokenized Treasury issuer globally.
- Market cap: $4.29 billion; rank: 28th among cryptocurrencies.
- Current resistance level: $1.50; critical support at $1.20.
- 500% surge in value over the past year, with notable growth after the US elections.
- Partnership with BlackRock's BUIDL enhances its position in the real-world asset (RWA) sector.
- Total value of top RWA tokens exceeds $60 billion; potential market growth to $4-$30 trillion by 2030.
The Moving Average Convergence Divergence (MACD) indicates possible bullish momentum, while the Accumulation/Distribution (A/D) indicator shows increased investor interest.
Analysts suggest that maintaining support at $1.20 is crucial for further price increases, with potential targets reaching $2.