Whales look at it, ONDO RWA price has increased by 10% due to collaboration between Chainlink and DTCC

Bittime – ONDO RWA token price rose more than 17% in the last 24 hours. Allegedly, this increase was the result of collaboration between Chainlink and DTCC as well as a large bank in the United States (US). Big investors are also looking at ONDO tokens in the hope that the price will continue to increase.

DTCC and Chainlink Collaboration Trial

DTCC, the world's largest clearing and settlement services provider, and blockchain oracle provider Chainlink have completed pilot programs with several major US banks.

This trial, called the Smart NAV Pilot, aims to standardize the method of providing Net Asset Value (NAV) data for investment funds on various blockchains using Chainlink's Cross-Chain Interoperability Protocol (CCIP).

The success of this trial is a positive catalyst for RWA tokens, including ONDO.

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Whales' Activity and Its Impact on ONDO RWA Prices

Not only test news, but the activities of large investors or whales also contributed to the increase in ONDO prices.

In the last 17 hours, a large investor with address 0x803 withdrew 957 ETH from the Gemini exchange and exchanged it for 2.64 million ONDO tokens worth approximately $2.38 million (at an average price of $0.902 per token).

The activity of large investors during price spikes often indicates their confidence in the potential of the token. This large purchase of ONDO further strengthens the bullish (optimistic) sentiment around ONDO.

The Future of RWA Tokenization

DTCC's report on fund data tokenization trials reflects the growing enthusiasm of traditional financial institutions for tokenized real-world assets.

For example, on March 19, 2024, BlackRock launched BUIDL, a money market fund tokenized on the Ethereum network. Investors can purchase BUIDL tokens that represent ownership of shares in the fund, whose investments include assets such as US Treasuries.

ONDO RWA Price Today

Summer: Over

Above is the ONDO RWA price chart taken from Bittime. ONDO price is completely in the green with an increase of +17.35% to now have a price of $1.01988.

ONDO price has broken through the long-awaited resistance at the $1 level, but selling pressure from those looking to take profits is still strong. In this way, will ONDO shine again after recently experiencing sluggishness?

Keep reading the article about ONDO price analysis and prediction on Bittime to find out the progress of the RWA token price.

Also Read How To Buy Crypto:

Conclusion

The collaboration of DTCC and Chainlink in trials of fund data tokenization, as well as the activities of large investors, are the driving factors for the increase in the price of ONDO tokens. The future of real-world asset tokenization is predicted to be bright, as more and more traditional financial institutions look to this technology.

However, technical analysis is recommended for investors before making investment decisions because crypto prices fluctuate.

How to Buy Ondo (ONDO) on Bittime

You can buy and sell Ondo (ONDO) easily and safely 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.

Read Also: 

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Latest ONDO Price Prediction: Skyrockets 13% in a Week, Will It Continue to Rise?

Chainlink Price Increases 30% after Announces Collaboration with DTCC

DISCLAIMER: This article is informational and is not an offer or solicitation 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.