TL;DR
- ONDO’s Rise: ONDO, a Real-World Asset (RWA) token, has seen significant growth, reaching a new record high of $0.9702 and entering the top 100 cryptocurrencies by market cap. The token has experienced a surge of over 100% in the past week and nearly 130% in the last 30 days.
- Whale Activity: Large investors, known as whales, have been actively increasing their holdings in RWA-related coins, including ONDO. Significant withdrawals of ONDO from exchanges suggest that whales are stockpiling ONDO in anticipation of further price increases.
- RWA Sector Growth: The RWA sector is one of the most active segments in crypto, with several projects, including ONDO, experiencing a rally. The market cap of the RWA has seen an increase of over 17% in the last 24 hours, reaching a value of more than $6.6 billion.
ONDO, a Real-World Asset (RWA) token, is garnering considerable interest. It has climbed into the top 100 cryptocurrencies by market cap, propelled by a positive trend. ONDO’s price reached a new record high of $0.9702 on Monday, March 25.
The price of #RWA token $ONDO soared by ~93% (5D)!
On Mar 22, the @OndoFinance multisign 0x677 deposited 49.9M $ONDO ($36.38M) to #Coinbase at $0.729
And then 10 fresh wallets withdrew 49.7M $ONDO ($36.9M) from #Coinbase at ~$0.743, now jointly making $9.93M (+26.9%) after 3… pic.twitter.com/syAkad9gQ3
— Spot On Chain (@spotonchain) March 25, 2024
As of writing, the daily increase was 15%, and Ondo Finance has seen a surge of over 100% in the past week and nearly 130% in the last 30 days. The price was around $0.9425 at the time of writing. The RWA sector is currently one of the most active segments in crypto, with several projects experiencing a rally due to an unprecedented increase in interest and investment.
Large investors, also known as whales, have been actively increasing their holdings in RWA-related coins. Data from Lookonchain reveals significant withdrawals of ONDO from exchanges, including 6.53 million ONDO from Bybit last month and 2.9 million ONDO from Gateio earlier today. These withdrawals suggest that whales are stockpiling ONDO in anticipation of further price increases.
ONDO Global Markets: A Game-Changer for Publicly Traded Securities
In February, Ondo Finance announced the launch of Ondo Global Markets. Their goal is to bring publicly traded securities on-chain, providing direct access to traditional securities. Recently, Ondo’s price experienced a significant increase of over 40% in response to the announcement about BlackRock’s USD Institutional Digital Liquidity Fund.
Apart from ONDO, other tokens such as Centrifuge, Polymesh, Pendle, and TokenFi are also receiving significant attention across the sector. Polymesh’s price has risen 87% this past week, while TokenFi’s price has increased by 160%. Data from CoinGecko indicates that the market cap of the RWA has seen an increase of over 17% in the last 24 hours, reaching a value of more than $6.6 billion. The sector’s 24-hour trading volume exceeds $1.16 billion.
In conclusion, the accumulation of ONDO by whales suggests a positive market sentiment. As the RWA sector continues to gain momentum, it will be fascinating to observe how this market segment develops.
