Bittime - The cryptocurrency worldis busy discussingONDO tokens . The token that supports Ondo DAO and Flux Finance has recently experienced a significant price increase.
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The cryptocurrency world is busy discussing ONDO tokens. The token that supports Ondo DAO and Flux Finance has recently experienced a significant price increase. According to Coingecko, ONDO broke its own price record by reaching an all-time high (ATH) of around 77 cents on the dollar early Thursday morning London time. This price increase indicates a potential long-term bullish trend for this mid-range altcoin token .
Also Read How To Buy Crypto:
Several Factors Driving ONDO Price Increases
- Heavy Interest from Large Investors (Whale): Data from Santiment, a blockchain analytics company, shows increased activity of large investors (whale) towards ONDO tokens. Large transactions involving ONDO spiked sharply, with the number of transactions exceeding $100,000 increasing from 68 to 91 unique events in just 24 hours. This renewed interest from major investors coincided with a noticeable decline in ONDO's supply on cryptocurrency exchanges. Across all platforms, token supply fell from 536.64 million to 529.6 million in the same time period.
- BlackRock Selects Ethereum: Although not directly related, the recent announcement from BlackRock, a financial giant managing trillions of dollars, selecting the Ethereum network for tokenization of real-world assets (RWA) has had a positive impact on the entire digital asset space. This decision marks the further opening of the door to blockchain technology by large institutions. This in turn could pave the way for increased institutional investment in ONDO for future RWA projects, further fueling its growth.
- Supportive Technical Indicators: Additionally, ONDO's technical indicators also point to continued bullish momentum. The Relative Strength Index (RSI), a popular technical indicator used to measure market strength, has surged above the 70 level for ONDO. This indicates that buyers are currently dominating the market, with strong buying pressure pushing prices up.
Also read: Ondo Finance Launches Ondo Global Market, Here's the Explanation
Current Price of Ondo Finance (ONDO).
According to Market Bittime.com the price of 1 ONDO to IDR is currently at Rp. 11,506 and in the last 24 hours it decreased by -3.77%.
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A Bright Future, But Still Research First
In conclusion, the recent rise in ONDO token prices appears to be driven by several factors. Increased activity by large investors, reduced inventory on exchanges, and growing institutional interest in the blockchain space for RWA projects have all contributed to this bullish trend.
With these factors driving the token forward, ONDO's future looks bright, and exciting developments are on the horizon. However, as with any cryptocurrency investment, it is important to conduct thorough research and due diligence before making any financial decisions.
How to Buy Ondo (ONDO) on Bittime
You can buy and sell Ondo (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 (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 (ONDO) on Bittime .
Monitor the price chart movements of Ondo (ONDO), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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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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