Bittime - The price of ONDO tokens from Ondo Finance actually shot up against the market flow! This token managed to reach an all-time high (ATH) of $1.15 (around Rp. 18,400) on May 24, 2024. This increase was driven by several interesting factors.
ONDO's Performance and Bright Future Prospects
The surge in ONDO tokens cannot be separated from the performance of the Ondo Finance platform itself. DeFiLlama noted that the market capitalization of this token exceeded $1.6 billion (around Rp. 25.6 trillion) after an increase in the last 24 hours.
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At its peak, Ondo Finance's Total Value Locked (TVL) reached a record high of $453 million (around IDR 7.2 trillion) on May 21.
IntoTheBlock data further reinforces this positive trend. They reported a 52.3% increase in ONDO large transactions. Interestingly, currently all token holders are in a profit position.
Also read: Ondo Finance (ONDO) RWA Platform Collaborates with Noble: Introducing US Treasury Tokenization
Ownership dominance by large investors is also quite high, namely 92%. About 63% of investors choose to hold their tokens for between one and twelve months.
Since mid-March, ONDO prices have actually fluctuated between $0.97 (around Rp. 15,520) and $0.69 (around Rp. 11,040). However, a breakthrough occurred on Friday. The 10% rise ended the consolidation phase, pushing ONDO to an initial record of $1.05 (around IDR 16,800).
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Now entering the price discovery phase, investors are optimistic that the bullish trend will continue. When this article was written, ONDO was still moving around the ATH price of $1.21 and TVL was at $445 million (around IDR 7.12 trillion).
Also read: 5 reasons why the price of Ondo Finance ($ONDO) is currently soaring
Triggers for ONDO Increase and Market Sentiment
ONDO's increase occurred amid controversy over the approval of exchange-traded funds (ETF) with Ethereum assets by the US Securities and Exchange Commission (SEC). Despite its controversial impact on the market as a whole, ONDO is actually one of the best daily performers.
Since its launch earlier this year, demand for ONDO has been strong. This token has even soared more than 1,300% from its lowest point.
Another driving factor was Coinbase's decision to include ONDO in their perpetual market. This announcement was followed by the start of trading on ONDO-PERP, PYTH-PERP, and ZETA-PERP.
The Coinbase International Exchange and Coinbase Advanced platforms are now fully operational, offering a variety of order types such as limit, market, stop, and stop-limit.
Market players also provide a bullish view of ONDO. One of them calls this token a potential “ETH beta” that will soon gain attention.
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Another analyst predicted a surge in “real-world asset narratives” going forward, highlighting ONDO's outperformance in neck-and-neck competition with leading Layer 1 platforms and meme tokens this week.
Not to forget, a crypto trader suggested investing in ONDO as an attractive alternative for those who cannot obtain securitized tokens. According to him, ONDO is the next best choice.
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:
Ondo (ONDO) Price Prediction This Week (22 - 28 May 2024)
Ondo Finance (ONDO) Price Prediction, Will It Rise? Check out the analysis here
Ondo Finance (ONDO) Price Soars & Becomes Strongest Ahead of Ethereum ETF
5 RWA Tokens Rise More Than 30%, There's ONDO!
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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