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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- May 25, 2024 09:18 UTC
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All Hail ONDO, RWA King! Top Trader Predicts $2.35 Price Target
Ondo (ONDO), a leading project in real-world asset crypto (RWA), surged 13% to $1.22 after the SEC approved Ethereum ETFs.
Crypto analyst sees further upside for ONDO, suggesting price targets of $1.35, $1.85, and $2.35 based on Fibonacci levels.
Ondo Finance's integration with BlackRock's BUIDL fund and rising TVL point towards continued growth for ONDO's price.
The crypto world erupted in excitement after the Securities and Exchange Commission (SEC) gave the green light to eight Ethereum spot exchange-traded funds (ETFs). Among the big winners was ONDO, a pioneering player in Real World Assets (RWA) crypto. Before the SEC’s announcement, ONDO was valued at $0.92, but within just 24 hours, it surged to $1.22, marking an impressive 13.26% increase.
Here’s more on this.
ONDO’s Rise
Renowned crypto expert Sjuul shone a spotlight on ONDO, branding it as the leading champion of Real World Assets (RWA). With his keen insights, Sjuul positioned ONDO as a standout performer in the ever-evolving crypto market.
Sjuul didn’t stop there. He urged ONDO investors to consider using Fibonacci levels in their trading strategies. These levels, detailed in his chart analysis, provide a clear roadmap for setting profit targets amidst ONDO’s upward momentum.
Setting Targets
While emphasizing the need for a solid support level, Sjuul set ambitious price targets for ONDO at $1.35, $1.85, and $2.35. He believes ONDO has the potential to reach these milestones as long as it maintains its current trajectory.
In a strategic move, Ondo Finance integrated its assets into BlackRock’s BUIDL tokenization fund on Ethereum, strengthening its ties to the crypto giant’s ecosystem. This move explains ONDO’s surge in value following the Ethereum ETF news.
Numbers Don’t Lie
Following the SEC’s approval of Ethereum ETFs, ONDO’s value jumped to $1.20, marking a significant 14% increase. A report from DeFiLlama highlights ONDO’s Total Value Locked (TVL) soaring to $458.42 million, indicating a promising long-term outlook. Projections suggest the TVL could surpass $1 billion within months, driving ONDO’s value to $2 or even $4.
Additionally, data from Santiment shows ONDO’s trading volume hitting a monthly high of $449.50 million, signaling a notable increase in investor interest.
The future of RWA crypto is bright, and ONDO is leading the charge. Are you excited?
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