Ethereum

Ondo

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<div class="coinjournal">
 <ul>
  <li>Ondo Finance (ONDO) price surges to a new all-time high above $1.15.</li>
  <li>The Ondo price surge is driven by SEC approval of Ethereum ETFs and strong institutional backing.</li>
  <li>Ondo Finance (ONDO) lists on Coinbase boosting its visibility an trading volume.</li>
 </ul>
 <p>Ondo Finance (ONDO), the native token of the tokenized real-world asset (RWA) platform Ondo Finance, has been experiencing a remarkable <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> surge recently.</p>
 <p>ONDO token recently hit an all-time high of $1.16 and despite experiencing a slight decline, it seems to have regained its footing.</p>
 <p>At press time, ONDO was <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>d at $1.10, reflecting a 10.45% increase over the past 24 hours, a 16.66% increase over the past week, and a 24.00% rise over the past month.</p>
 <p>Since its launch, ONDO <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> has skyrocketed by an impressive 577.86% from its IEO <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $0.055 in January 2024.</p>
 <p>These figures highlight ONDO’s strong upward momentum and growing investor interest.</p>
 <h2 id="key-catalysts-for-ondo-price-surge">Key catalysts for Ondo price surge</h2>
 <h3 id="1-sec-approval-of-spot-ethereum-etfs">1. SEC Approval of Spot Ethereum ETFs</h3>
 <p>One of the most significant factors contributing to ONDO’s recent <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> surge is the U.S. Securities and Exchange Commission (SEC)’s approval of spot Ethereum exchange-traded funds (ETFs).</p>
 <p>This landmark decision has fueled market optimism, suggesting a more favorable regulatory environment for cryptocurrencies.</p>
 <p>The approval has not only boosted Ethereum (ETH) but also positively impacted Ethereum-related tokens like ONDO, which is considered a strong Ethereum-beta asset and a key player in the “real-world asset” narrative.</p>
 <h3 id="2-coinbase-listing">2. Coinbase Listing</h3>
 <p>Another major catalyst for ONDO’s rally is its recent listing on Coinbase’s perpetual market.</p>
 <p>The inclusion of ONDO-PERP, along with PYTH-PERP and ZETA-PERP, on Coinbase has provided greater accessibility and trading flexibility for investors.</p>
 <p>This move has significantly increased ONDO’s visibility and trading volume, which surged by 130% to reach $455,519,046.</p>
 <h3 id="3-strong-institutional-backing">3. Strong institutional backing</h3>
 <p>Lat but not least is Ondo Finance’s strategic partnerships and investments by major venture capitals that have played a crucial role in boosting investor confidence.</p>
 <p>In Aprill 2022, Ondo Finance received $20 million in a Series A investment from several leading venture capitals including Pantera Capital, Coinbase Ventures, Tiger Global Management, Wintermute, and GoldenTree Asset Management among others. These institutional supports are a positive indicator for long-term growth prospects.</p>
 <p>In late March 2024, Ondo Finance transferred $95 million of its assets to BlackRock’s tokenized fund, BUIDL, to facilitate instant settlements for its U.S. Treasury-backed token, OUSG.</p>
 <p>While this specific transaction might not have directly triggered the recent <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movement, the association with BlackRock, a dominant force in the ETF market, has certainly bolstered ONDO’s market perception.</p>
 <p>Pantera Capital’s backing further adds to ONDO’s credibility, providing the financial muscle and strategic support needed to navigate the volatile crypto landscape.</p>
 <h2 id="on-chain-ondo-finance-ondo-data-insights">On-chain Ondo Finance (ONDO) data insights</h2>
 <p>According to DeFiLlama, Ondo Finance achieved a peak total value locked (TVL) of $444 million on May 24.</p>
 <p>In addition, data from IntoTheBlock also indicates a significant surge of 52.3% in large transaction volume, with 84% of ONDO holders currently in a profitable position and 15% at breakeven.</p>
 <p>Furthermore, the concentration by large holders remains notably high at 92%, with approximately 63% of holders retaining their tokens for durations between one to twelve months.</p>
 <p>Going by the above on-chain data Market sentiment around ONDO remains bullish, with several analysts and traders predicting further gains.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-s-why-ondo-finance-ondo-price-is-soaring-tbt89551.html">https://thebittimes.com/here-s-why-ondo-finance-ondo-price-is-soaring-tbt89551.html</a></p>

Here’s why Ondo Finance (ONDO) price is soaring

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