Ondo Finance Surges 20% Weekly Amid Hype and Growing DeFi Demand
Ondo Finance (ONDO) has risen as one of many high performers out there this week, surging 20% to commerce round $1.10. The rally comes as demand for real-world asset (RWA) tokenization accelerates, pushing Ondo’s TVL to file highs.
The not too long ago launched Ondo Global Markets platform has been a serious development driver, attracting over $160 million in belongings inside days. The service allows traders to entry tokenized variations of greater than 100 shares and ETFs, together with Tesla, Nvidia, and Google.
By bringing Wall Street belongings onto the blockchain, Ondo is positioning itself as a frontrunner within the $26 billion RWA tokenization market. Analysts argue that this transfer may rework international investing, significantly for customers exterior the U.S., who’ve historically confronted obstacles to inventory market participation.
Ondo Finance’s Total Value Locked Hits $1.57 Billion
Beyond its equities platform, Ondo Finance has seen explosive development throughout its ecosystem. TVL on its DeFi protocols has surged from $563 million earlier this yr to greater than $1.57 billion right this moment. This spike is primarily fueled by Ondo’s yield-bearing merchandise, akin to:
- Ondo US Dollar Yield (USDY): Over $500 million in belongings
- Ondo Short-Term U.S. Treasuries Fund (OUSG): $724 million locked
The agency’s lending arm, Flux, has additionally expanded quickly, now managing $42 million in belongings in comparison with simply $4 million final November. Like Aave’s Horizon, Flux lets customers borrow stablecoins towards tokenized U.S. Treasuries, creating new liquidity avenues.
Ondo has additionally launched its personal blockchain, tailor-made for tokenization, which strengthens its moat in a sector projected to succeed in trillions of {dollars} in worth.
ONDO Price Outlook: Can Bulls Break $1.145?
Technically, Ondo has shaped an inverse head-and-shoulders sample, a bullish reversal sign. The token not too long ago broke previous the $1.05 resistance and is now eyeing a breakout above $1.145, final seen in July. A profitable transfer may open the door towards $1.18 and even $1.26 within the brief time period.
However, merchants are watching intently for profit-taking dangers, as ONDO’s relative power index (RSI) alerts overbought circumstances. Regardless, with BlackRock signaling blockchain-based ETFs and Fed fee cuts anticipated to gasoline a broader danger rally, momentum may stay in Ondo’s favor.
If sustained, Ondo Finance’s surge not solely grows its function as a DeFi chief but in addition builds the fast-growing demand for tokenized real-world belongings.
Cover picture from ChatGPT, ONDOUSD chart from Tradingview
