Bittime - Ondo Finance recently launched Ondo Global Markets to expand its asset offering in the form of crypto tokens. This is part of their mission to expand to multiple blockchains, having previously integrated with the Solana, Sui, and Aptos blockchains. The Ondo community welcomed this development, as did their native token, ONDO.
The native token of this DeFi protocol aims to provide easier access to institutional-quality financial products. ONDO initially experienced an increase of 25.84%. The increase then jumped to 40.90% in the last 24 hours. At the time of writing, ONDO is trading at $0.5757, which represents a gain of 72.265% in the last 30 days.
ONDO's recent low was $0.40. ONDO is expected to meet resistance at the $0.5 level. If the price stays above that level for a long time, this could pave the way for an even higher rise - possibly reaching $0.75 by the end of this year.
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Interest in ONDO, or the crypto market as a whole, is expected to change direction when the Federal Reserve announces its decision on lowering interest rates or maintaining current interest rates.
There is speculation that the Fed could keep interest rates at a 23-year peak of between 5.25% and 5.50%. The target is to bring inflation below 2%, but concerns about inflation returning to markets are increasing.
With the general election underway, it is possible that ONDO price movements could stop for a while. Additionally, the crypto market may attract more attention if US Treasury yields fall. This will benefit ONDO and other cryptos.
ONDO's current movement on the chart shows an uptrend. This is a positive signal in the short term, considering the general downward price trend as the two dominant tokens took a heavy hit.
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What is Ondo Finance (ONDO)?
Ondo Finance is a bridge between the world of traditional finance and the world of crypto. Ondo Finance provides access to the bond market directly via blockchain (on-chain).
With Ondo Finance, investors can connect their crypto wallet, deposit USDC (stablecoin) or USD (US dollar), and receive tokens representing their investment in bonds. Investors can then request redemption of those investments at any time, and can choose to receive stablecoins or USD.
Ondo Finance is designed to eventually operate independently, separate from the initial protocol that built it. However, currently Ondo Finance's strength lies in their partnerships and integration with various parties.
To be able to bring bonds into the blockchain realm, Ondo Finance is working with asset managers, custodians, lawyers and other related parties.
Ondo Finance offers an attractive and low-risk way for crypto investors to invest in bonds. Apart from that, Ondo Finance is also an easy-to-understand entry point for investors who usually avoid high risks when entering the world of blockchain.
Ondo Finance itself has a conservative approach to risk and prioritizes compliance with regulations and taxes. Users who want to access Ondo Finance services must go through the KYC (Know Your Customer) process, which is a mandatory procedure to be able to invest in RWA (Real World Asset) products.
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While KYC may be an obstacle for some, the reality is that most crypto users have undergone KYC at a centralized crypto exchange during their time in the blockchain world. Apart from that, to be able to enjoy the benefits of investing in RWA, investors must comply with applicable regulations.
Ondo Finance's KYC-required way of working differentiates them and other RWA platforms from typical DeFi protocols. However, this is unavoidable because RWA financial products, such as bonds, are classified as securities.
Therefore, in order to provide access to bonds, Ondo Finance must comply with all rules and regulations relating to such securities.
Ondo Finance has succeeded in responding to this challenge well. One of Ondo Finance's key strengths is their commitment to high-quality institutional partners.
Every link in their operations involves top service providers. For example, BlackRock manages the underlying ETF for Ondo's OUSG product, and Ondo uses Coinbase, a trusted crypto custodian, to convert USDC to USD.
With established partners, a conservative approach to risk, and a focus on compliance, Ondo Finance has successfully realized the concept of “on-chain institutional finance”.
How to Buy Ondo Finance (ONDO) on Bittime
You can buy and sell Ondo Finance (ONDO) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ondo Finance (ONDO) is available on Bittime with the ONDO/IDR market pair. To be able to buy ONDO IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ondo Finance (ONDO) on Bittime.
Monitor the price chart movements of Ondo Finance (ONDO), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
What is Ondo Finance (ONDO)? Asset Tokenization and Risk Diversification Platform
Ondo Finance (ONDO) Price Prediction, Will It Rise? Check out the analysis here
5 Crypto Assets That Make the Most Profit Today, There are ONDO and TIA
Ondo Finance's USDY Token is Now Available on Blockchain Sui!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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