{"id":31280,"date":"2024-05-24T12:01:48","date_gmt":"2024-05-24T12:01:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/heres-why-ondo-finance-ondo-price-is-soaring\/"},"modified":"2024-05-24T12:01:48","modified_gmt":"2024-05-24T12:01:48","slug":"heres-why-ondo-finance-ondo-price-is-soaring","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/heres-why-ondo-finance-ondo-price-is-soaring\/","title":{"rendered":"Here&#8217;s why Ondo Finance (ONDO) price is soaring"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/shutterstock_2013022463-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/shutterstock_2013022463-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/shutterstock_2013022463-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/shutterstock_2013022463-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Ondo Finance (ONDO) price surges to a new all-time high above $1.15.<\/li>\n<li>The Ondo price surge is driven by SEC approval of Ethereum ETFs and strong institutional backing.<\/li>\n<li>Ondo Finance (ONDO) lists on Coinbase boosting its visibility an trading volume.<\/li>\n<\/ul>\n<p>Ondo Finance (ONDO), the native token of the tokenized real-world asset (RWA) platform Ondo Finance, has been experiencing a remarkable price surge recently.<\/p>\n<p>ONDO token recently hit an all-time high of $1.16 and despite experiencing a slight decline, it seems to have regained its footing.<\/p>\n<p>At press time, ONDO was priced at $1.10, reflecting a 10.45% increase over the past 24 hours, a 16.66% increase over the past week, and a 24.00% rise over the past month.<\/p>\n<p>Since its launch, ONDO price has skyrocketed by an impressive 577.86% from its IEO price of $0.055 in January 2024.<\/p>\n<p>These figures highlight ONDO\u2019s strong upward momentum and growing investor interest.<\/p>\n<h2>Key catalysts for Ondo price surge<\/h2>\n<h3>1. SEC Approval of Spot Ethereum ETFs<\/h3>\n<p>One of the most significant factors contributing to ONDO\u2019s recent price surge is the U.S. Securities and Exchange Commission (SEC)\u2019s approval of spot Ethereum exchange-traded funds (ETFs).<\/p>\n<p>This landmark decision has fueled market optimism, suggesting a more favorable regulatory environment for cryptocurrencies.<\/p>\n<p>The approval has not only boosted <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum (ETH)<\/a> but also positively impacted Ethereum-related tokens like ONDO, which is considered a strong Ethereum-beta asset and a key player in the \u201creal-world asset\u201d narrative.<\/p>\n<h3>2. Coinbase Listing<\/h3>\n<p>Another major catalyst for ONDO\u2019s rally is its recent listing on Coinbase\u2019s perpetual market.<\/p>\n<p>The inclusion of ONDO-PERP, along with PYTH-PERP and ZETA-PERP, on <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase<\/a> has provided greater accessibility and trading flexibility for investors.<\/p>\n<p>This move has significantly increased ONDO\u2019s visibility and trading volume, which surged by 130% to reach $455,519,046.<\/p>\n<h3>3. Strong institutional backing<\/h3>\n<p>Lat but not least is Ondo Finance\u2019s strategic partnerships and investments by major venture capitals that have played a crucial role in boosting investor confidence.<\/p>\n<p>In Aprill 2022, Ondo Finance received $20 million in a Series A investment from several leading venture capitals including Pantera Capital, Coinbase Ventures, Tiger Global Management, Wintermute, and GoldenTree Asset Management among others. These institutional supports are a positive indicator for long-term growth prospects.<\/p>\n<p>In late March 2024, Ondo Finance transferred $95 million of its assets to BlackRock\u2019s tokenized fund, BUIDL, to facilitate instant settlements for its U.S. Treasury-backed token, OUSG.<\/p>\n<p>While this specific transaction might not have directly triggered the recent price movement, the association with BlackRock, a dominant force in the ETF market, has certainly bolstered ONDO\u2019s market perception.<\/p>\n<p>Pantera Capital\u2019s backing further adds to ONDO\u2019s credibility, providing the financial muscle and strategic support needed to navigate the volatile crypto landscape.<\/p>\n<h2>On-chain Ondo Finance (ONDO) data insights<\/h2>\n<p>According to <a href=\"https:\/\/defillama.com\/protocol\/ondo-finance#information\">DeFiLlama<\/a>, Ondo Finance achieved a peak total value locked (TVL) of $444 million on May 24.<\/p>\n<p>In addition, <a href=\"https:\/\/app.intotheblock.com\/coin\/ONDO\">data from IntoTheBlock<\/a> also indicates a significant surge of 52.3% in large transaction volume, with 84% of ONDO holders currently in a profitable position and 15% at breakeven.<\/p>\n<p>Furthermore, the concentration by large holders remains notably high at 92%, with approximately 63% of holders retaining their tokens for durations between one to twelve months.<\/p>\n<p>Going by the above on-chain data Market sentiment around ONDO remains bullish, with several analysts and traders predicting further gains.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/heres-why-ondo-finance-ondo-price-is-soaring\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Ondo Finance (ONDO) price surges to a new all-time high above $1.15. The Ondo price surge is driven by SEC approval of Ethereum ETFs and strong institutional backing. Ondo Finance (ONDO) lists on Coinbase boosting its visibility an trading volume. Ondo [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":31281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31280"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31280"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31281"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}