Ondo Global Markets Crosses $300 Million Driving Accumulation Signs
Ondo Global Markets has onboarded over $300 million value of shares and ETFs onto the blockchain only one month after launch.
While the general crypto market in September has seemed gloomy, ONDO has proven sturdy accumulation alerts, elevating hopes of reclaiming its all-time high.
The First Milestone for Ondo Global Markets
Ondo (ONDO) has lengthy been a outstanding title in bond tokenization, with merchandise corresponding to OUSG and USDY. Ondo’s fund scale has reached around $1.4 billion on this phase, rating second after Securitize ($2.72 billion).
As BeInCrypto reported, Ondo just lately launched Ondo Global Markets. In lower than a month, the platform recorded tokenized shares and ETFs surpassing the $300 million mark. Several tickers, corresponding to SPYon, IVVon, QQQon, TLTon, every exceeded $10 million.
With 103 tickers, Ondo holds a number one market share on this area of interest. Securitize is in second place, with practically $250 million, nevertheless it solely gives a single ticker.
In just some weeks, the $300 million milestone is spectacular, particularly provided that many different RWA gamers are nonetheless targeted totally on credit score or treasuries and have but to broaden considerably into equities.
From a market narrative perspective, September may seem “bearish” when judged by general crypto value actions. However, for ONDO, this has arguably been essentially the most bullish month in terms of fundamentals, with accelerating institutional inflows and quickly rising product availability (tokenized equities) fueling stronger long-term sentiment.
Technical Analysis
On the technical facet, a number of merchants level to alerts {that a} strong accumulation phase might have ended, as ONDO’s chart varieties a large cup-base sample. This setup might pave the way in which for a brand new upward leg with a projected achieve of as much as 70%.
In one other evaluation, massive “whales” have amassed ONDO for months and reportedly aggressively defended the ~$0.84 assist stage. This habits is usually described as a “closing shakeout” earlier than an actual rally if new demand flows in.
“This $ONDO dip received’t final lengthy,” one dealer commented.
At the identical time, key ranges have been highlighted. The $0.84–$0.86 vary serves as the present accumulation zone. The short-term gateway for a retest of the ATH lies round $0.95–$1.00, whereas the psychological and technical zone of $1.10–$1.17 is the goal if a breakout really happens.
On the draw back, a each day shut under $0.84 would invalidate the buildup construction and, as a contingency situation, open the door to decrease vary ranges at $0.71–$0.67.
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