The digital currency of Ondo Finance, known as ONDO, reached a new peak as the market showed signs of a rapid rebound. In the last 24 hours, ONDO has surged by 39% and is currently trading at $0.70. Notably, the cryptocurrency hit an all-time high of $0.77 around 01:30 UTC on March 21. This price surge has propelled ONDO into the top 100 cryptocurrencies list, with a total market capitalization of $974 million.
Data from Santiment reveals that the number of large transactions involving ONDO, valued at least $100,000 each, has increased from 68 to 91 unique transactions in the past day. This surge in whale activity often signifies increased price volatility.
Despite this, data indicates that the supply of ONDO on all exchanges has decreased from 536.64 million to 529.60 million tokens since March 18. This shift suggests that some investors may be holding out for a further price increase rather than cashing out for short-term gains.
Santiment’s data also shows that ONDO’s Relative Strength Index (RSI) has risen from 50 to 59 in the last day. This indicates that the cryptocurrency may be slightly overbought at the moment, with the potential for manipulation of prices by large investors.
In January, Ondo Finance expanded its tokenization of real-world assets (RWA) into the Asia Pacific region. The company offers international investors the opportunity to access U.S. asset classes through tokenization, holding a 40% market share in this field.
For more news and updates, follow us on Google News.