Ondo Finance (ONDO) has surged over 11% today, reaching an all-time high of $1.79. Its daily trading volume has soared to a yearly peak of $994 million, showing a sharp rise in trader interest. Additionally, rising open interest signals more capital entering the market, sparking new buying activity.
This explosive rally is drawing attention, fueled by institutional interest, market speculation, and overall optimism in the crypto space.
One of the key reasons for ONDO’s rise is significant institutional interest. Crypto influencer Grey BTC recently pointed out that Upbit, a major crypto exchange, has been steadily accumulating ONDO for the past five months. Upbit now holds more ONDO than early investors like Pantera Capital and Coinbase Ventures.
This large-scale accumulation signals strong confidence in ONDO’s potential and has fueled what Grey BTC describes as a “clear race” to acquire the token. Grey BTC also predicts ONDO could hit $15 by 2025, which has further boosted investor confidence.
Speculation is another key factor pushing ONDO’s price higher. ONDO Futures are already available on Binance, one of the world’s largest exchanges. Now, investors are speculating about a possible spot listing on Binance, which would make ONDO more accessible to everyday traders.
If this happens, it could increase demand and potentially drive ONDO’s price even higher.
The numbers behind ONDO’s rally are impressive. Its trading volume has increased by over 300%, reaching $834 million, while Open Interest in ONDO Futures has jumped by 50%, hitting $297 million. These numbers show growing investor participation, adding momentum to the rally.
However, there’s a note of caution: ONDO’s Relative Strength Index (RSI) has risen to 85, which means the token is in overbought territory. This could lead to a short-term price pullback.
Supply Shortage Could Fuel More Gains
On the other hand, recent data shows a change in ONDO’s exchange netflow. On November 28, ONDO’s Exchange Netflow turned negative, with more tokens being withdrawn from exchanges than deposited. Around $4.10 million worth of ONDO has been moved to private wallets over the past week, suggesting a supply squeeze.
With fewer tokens available on exchanges and rising demand, this could be contributing to the price surge.
Looking beyond the current price spike, ONDO is part of a growing trend. According to Phoenix Group, a leading on-chain analytics platform, ONDO is currently one of the top four cryptocurrencies in the Real-World Asset (RWA) market, along with OM, PENDLE, and POLYX. These projects are showing strong weekly trading volumes and significant price movements, reflecting their resilience in the market.
ONDO, in particular, is benefiting from increasing investor interest and a tightening supply, making it a token to watch in the coming months.
ONDO is rising due to institutional buying, rumors of a Binance spot listing, and high investor demand amidst a tightening supply.
Crypto analysts like Grey BTC predict ONDO could reach $15 by 2025, driven by strong fundamentals and market demand.
Yes, ONDO is part of the growing RWA market, gaining popularity for bridging real-world assets with blockchain technology.
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