Ethereum

Ondo

Flux

BlackRock

The post <a href="https://coinpedia.org/price-analysis/ondo-ondo-price-hits-new-all-time-high-fueled-by-increased-whales-on-chain-activity/">ONDO Price Hits ATH! What’s Fueling the Rally?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The ONDO token, powering the Ondo DAO and Flux Finance, has recently seen remarkable growth. According to the latest data from Coingecko, ONDO reached an all-time high (ATH) of around 77 cents, soaring during Thursday’s early London session. 
With ONDO exploring new price territory, it seems poised for a sustained bullish trend. Notably, the mid-cap altcoin boasts a fully diluted value of about $7.5 billion and has seen its daily trading volume spike by over 60 percent in the past 24 hours, hitting around $432 million. 
<h2 class="wp-block-heading" id="h-whales-drive-activity-as-ondo-s-supply-dips">Whales Drive Activity as ONDO’s Supply Dips</h2> 
Recent data from Santiment, an on-chain analytics firm, shows a surge in whale transactions involving ONDO. Transactions exceeding $100,000 jumped from 68 to 91 unique cases within the last 24 hours. This surge in whale activity coincides with a noticeable drop in ONDO’s supply on exchanges, falling from 536.64 million to 529.6 million tokens across all platforms in the same period. 
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The significant increase in whale activity, alongside the shrinking exchange supply, indicates a strong bullish sentiment surrounding ONDO’s market dynamics. 
<h2 class="wp-block-heading" id="h-ondo-price-expectations">ONDO Price Expectations</h2> 
The recent announcement that BlackRock has chosen the Ethereum network for real-world asset (RWA) tokenization provides context to ONDO’s surge to new ATH. Though not a direct link, this announcement suggests the potential for increased institutional investment in ONDO for RWA ventures in the near future. 
Expecting Continued Momentum 
Considering these factors, it’s reasonable to expect continued bullish momentum for ONDO in the coming months. Additionally, ONDO’s daily Relative Strength Index (RSI) has surged above the 70 level, indicating a prevailing bullish sentiment and the dominance of buyers in the market. 
Fueled by a combination of factors including heightened whale activity, reduced exchange supply, and growing institutional interest, ONDO’s journey promises further exciting developments.

ONDO Price Hits ATH! What’s Fueling the Rally?

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