- Due to whale trades and its innovative RWA tokenization, ONDO token’s price rose 40% in a week to an all-time high.
Through Ondo Global Markets and agreements with major blockchain platforms, Ondo is growing its offerings and cementing its DeFi position.
The backbone of Ondo DAO and Flux Finance, the ONDO token, has seen a remarkable surge in market valuation, achieving a startling 40% increase in just one week to reach a new peak of almost 77 cents.
With an astounding 350% gain since entering the market in January 2024, ONDO has stunned the financial community and become a rising star in the decentralized finance (DeFi) space.
The Driver of ONDO’s Stratospheric Expansion
The noteworthy increase in ONDO’s value may be directly attributed to BlackRock’s innovative blockchain debut with its Ethereum-based tokenized fund, which sparked a reevaluation of Real World Asset (RWA) tokens, of which ONDO stands out.
The firm that created ONDO, Ondo Finance, is leading the charge in combining conventional financial models with the thriving DeFi industry by tokenizing securities in a novel way.
Leading on-chain analytics platform Santiment’s insights show a significant rise in whale transactions employing ONDO, with high-value trades ($100,000+) rising from 68 to 91 in a single day.
This spike, together with a notable decrease in ONDO’s exchange supply from 536.64 million to 529.6 million tokens, indicates that the investment community is becoming increasingly bullish, which is supporting confidence in ONDO’s potential for future market success.
Tokenized Assets: A New Chapter
The launch of Ondo Global Markets, a trailblazing initiative to tokenize traditional financial products and combine them with DeFi, further supports ONDO’s growth trajectory.
With this calculated diversification, Ondo Finance’s reach surpasses its original specialization in tokenized US Treasury securities, drawing in a wider range of investors and possibly increasing the demand for the ONDO token.
Notably, as ETHNews previously reported, Ondo Finance’s expansion strategy depends on connections with Aptos, Sui, and Solana, three significant blockchain startups.
By integrating its tokenized treasury solutions into these platforms and exploring additional DeFi ventures, Ondo is expanding its ecosystem and cementing its RWA tokenization market leadership.
Meanwhile, the ONDO price had fallen 13.98% in the last 24 hours, falling to $0.6765. But, this represents an increase of 36.91% over the past 7 days.