The price of the ONDO coin has increased by over 9% in the last 24 hours. It is currently trading for $1.40 after testing the support area. It is expected to bounce from this zone toward the resistance area.
Today’s bullish movement comes after about a month of bearish sentiment surrounding the ONDO price. The coin hit an all-time high of $2.14 on December 16, 2024. Now, it is down 35.38% from that high at its current price of $1.40. Despite this, experts are optimistic, with some expecting at least a 230% increase soon.
Ondo Coin Price to Hit $4.20
Crypto analyst Doji shared a post on X with their 13.1k followers of $ONDO’s current position. The message pointed out a possible accumulation phase as the token prepares for its Global Markets (GM) launch and potential announcements from important partners.
Ondo GM is a new platform that will launch soon. It will work as a broker-dealer and use traditional trading, clearing, and settlement methods. The platform aims to access exclusive markets and assets through a secure peer-to-peer (p2p) system. This has generated excitement in the community, especially with the addition of a Governance Module.
The crypto analyst points out that $ONDO’s price increased by 250% after a period of accumulation following a correction from its all-time high (ATH). They suggest a similar pattern could happen now, with a potential price target of $4.20 if the platform forms partnerships with traditional financial institutions and gains institutional interest.
The accompanying chart in the post visualizes historical price patterns of $ONDO, showing the accumulation phase and the subsequent price surge. This chart predicts a similar path for the near future, aiming for a 237% increase from current levels.
The Growth of Real-World Assets (RWA)
Ondo Finance is a decentralized finance (DeFi) platform that tokenizes real-world assets (RWAs). It offers high-quality financial products and services and aims to make markets more efficient, transparent, and accessible.
Recently, Larry Fink, the CEO of BlackRock, has publicly supported blockchain technology once again. He urges the SEC to speed up the tokenizing bond and stock approval process, which shows that mainstream interest in blockchain RWAs is growing.
It highlights the potential for blockchain to change traditional finance and suggests that digital assets could be integrated with existing markets. This integration could create new efficiencies and improve trading transparency and securities management.
Ondo Finance contributes to this change as a leader in decentralized finance and tokenized assets. By supporting Fink’s vision, ONDO shows its commitment to shaping the future of finance, especially in connecting traditional markets with blockchain technology.
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