As a seasoned crypto investor with years of experience under my belt, I’ve seen my fair share of market fluctuations and trends. The recent surge in the value of Ondo Finance (ONDO) token, driven by the platform’s dedication to tokenizing real-world assets and backed by reputable investment firm Pantera Capital, has caught my attention.
As a crypto investor, I’ve noticed an exciting development with Ondo Finance – a unique platform specializing in tokenizing real-world assets, and proudly supported by the renowned Pantera Capital. Recently, there’s been a significant increase in value for their native Ondo Finance (ONDO) token.
I analyzed the cryptocurrency market and noticed that the price of ONDO surged by almost 20%, peaking at a record high of $1.15 on May 24, 2024. This significant gain can be attributed largely to Coinbase’s decision to include ONDO in its perpetual market.
Performance and Future Outlook
As a researcher examining the latest cryptocurrency market trends, I’ve discovered some intriguing developments regarding ONDO token. According to DefiLlama’s data, ONDO has experienced significant growth over the past 24 hours, which has propelled its market capitalization above the $1.6 billion threshold. Moreover, on May 21st, Ondo Finance reached an all-time high in total value locked (TVL) at approximately $453 million.
As a crypto investor, I’ve noticed some intriguing insights from IntoTheBlock’s data regarding ONDO. There’s been a noteworthy 52.3% surge in large transaction volumes, indicating increased activity among larger investors. Moreover, all current holders are enjoying a profitable position with their tokens. The investor base is quite concentrated, with a massive 92% held by large holders. Approximately two-thirds of these investors have kept their ONDO for periods ranging from one to twelve months.
From mid-March onwards, ONDO‘s price bounced between $0.97 and $0.69. However, a significant 10% surge occurred on Friday, marking the end of this price range and propelling ONDO to a new all-time high of $1.05. Currently, ONDO is experiencing a phase of price discovery, with investors anticipating further bullish momentum that may push the price higher. The current value of ONDO hovers around its all-time high of $1.15, and its total value locked stands at $445 million.
Catalysts and Market Sentiment
The rally occurred following the SEC’s approval of Ethereum spot ETFs in the United States. Although this decision sparked controversy within the broader market, ONDO stands out as one of the best performers on a day-to-day basis.
After its debut earlier in the year, ONDO has experienced significant interest and surged more than 1,300% above its record low.
The surge in ONDO‘s price may be influenced by Coinbase’s decision to list the asset on its perpetual market. Following the announcement, trading for ONDO-PERP, PYTH-PERP, and ZETA-PERP has officially begun on Coinbase’s perpetual markets.
The ONDO-PERP, PYTH-PERP, and ZETA-PERP markets for ONDO, PYTH, and ZETA respectively, have been activated on Coinbase International Exchange and Coinbase Pro. Traders can now place various order types including limit, market, stop, and stop-limit orders. $ONDO $PYTH $ZETA
— Coinbase International Exchange (@CoinbaseIntExch) May 23, 2024
The international and advanced trading platforms of Coinbase, specifically Coinbase International Exchange and Coinbase Advanced, are now functioning at full capacity for conducting trades. These exchanges support different order types including limit, market, stop, and stop-limit orders. To begin with, the markets for ONDO-PERP, PYTH-PERP, and ZETA-PERP will only accept post-only orders on both Coinbase International Exchange and Coinbase Advanced.
After the recent announcement, I’ve noticed some optimistic predictions from market traders regarding ONDO. One trader in particular highlighted ONDO as an intriguing “ETH alternative,” implying it could gain significant attention in the near future.
One possibility: The real-world asset narrative is anticipated to experience a significant uptick, with ONDO‘s impressive performance placing it among the top performing Layer 1 platforms and meme tokens this week. Furthermore, a knowledgeable crypto trader recommends investing in ONDO as a viable choice for those who cannot obtain securitized tokens, viewing it as an appealing substitute.
Read More
- GEAR PREDICTION. GEAR cryptocurrency
- PBX PREDICTION. PBX cryptocurrency
- Michelle Yeoh Will Not Appear in ‘Avatar 3,’ Says James Cameron: ‘She’s in 4 and 5’
- EUR INR PREDICTION
- CKB PREDICTION. CKB cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- Exploring the Hilarious World of Helldivers’ Ricochet Gameplay
- Skull and Bones: Gamers’ Frustrations with Ubisoft’s Premium Content Delivery
- BSW PREDICTION. BSW cryptocurrency
- ‘Starting 5’: LeBron James, Jayson Tatum and Jimmy Butler Among NBA Players Featured in Obamas-Produced Sports Series
2024-05-24 21:46