Ondo

OUSG

2024

<p>Ondo Finance’s token continued recovering after the developers submitted a proposal to bring the OUSG stablecoin to Sky, formerly MakerDAO.&nbsp;</p>
<p>Ondo Finance (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ondo/">ONDO</a>) rose for the second consecutive day, reaching a high of $0.7500, its highest level since Aug. 25.&nbsp;</p>
<p>In a statement, Ondo Finance’s developers said they had collaborated with Blackrock and Securitize to have the OUSG proposal added to the Spark Tokenization Grand Prix, which aims to onboard $1 billion in tokenized assets.</p>
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   <p lang="en" dir="ltr">📉 Falling Interest Rates Are a Boon for Yieldcoins 📈<br><br>There's a misconception that lower interest rates will hurt tokenized Treasuries (yieldcoins). The argument is that investors will chase higher-risk options like corporate bonds, private credit, or even crypto lending. This…</p>— Nathan Allman 🌊 (@nathanlallman) <a href="https://twitter.com/nathanlallman/status/1837126388396023980?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 20, 2024</a>
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<p>Ondo’s OUSG is a tokenized product with over $227 million in assets that offers holders monthly rewards.&nbsp;</p>
<p>Its annual APY stands at 5.11%, which is generated from U.S. government treasuries through the Blackrock USD Institutional Digital Liquidity Fund. It is available to institutional investors and charges a 0.15% fee.</p>
<p>Ondo Finance also operates the more popular US dollar yield token, which yields 5.35% and has over $400 million in assets. Unlike OUSG, USDY is available only to institutional investors.</p>
<p>The new proposal came at a time when the total assets in Ondo Finance have jumped to a record high of <a href="https://defillama.com/protocol/ondo-finance" target="_blank" rel="noopener noreferrer nofollow">$616 million</a>. Most of its these assets are in the Ethereum chain followed by Solana, Mantle, and Aptos.</p>
<p>A key concern for Ondo Finance is that it could lose assets as investors move away from government bonds now that the Federal Reserve has started cutting interest rates.&nbsp;</p>
<p>In its decision last week, the Fed delivered a <a href="https://crypto.news/crypto-products-see-surge-in-inflows-fueled-by-fed-rate-cut/" target="_blank" rel="noopener noreferrer nofollow">jumbo cut of 0.50%</a> and hinted that more were on the way. As a result, the benchmark 10-year yield has retreated to 3.7% from this year’s high of over 4.6%.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/ondo-finance-token-at-risk-if-fed-begins-cutting-rates/"> Ondo Finance token at risk if Fed begins cutting rates </a></p>
<p>However, Ondo Finance’s CEO, Nathan Allman, refuted the idea that lower interest rates would lead to a rotation toward riskier assets. In an X thread, he noted that yield tokens like Ondo will benefit when rates start falling, as investors move to riskier assets like crypto. He cited USDC <a href="https://crypto.news/what-are-stablecoins-and-how-do-they-work/" target="_blank" rel="noopener noreferrer nofollow">stablecoin</a>, which added billions in assets when the Fed began cutting rates in 2020.</p>
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">📉 Falling Interest Rates Are a Boon for Yieldcoins 📈<br><br>There's a misconception that lower interest rates will hurt tokenized Treasuries (yieldcoins). The argument is that investors will chase higher-risk options like corporate bonds, private credit, or even crypto lending. This…</p>— Nathan Allman 🌊 (@nathanlallman) <a href="https://twitter.com/nathanlallman/status/1837126388396023980?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 20, 2024</a>
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<h2 class="wp-block-heading" id="ondo-flips-the-50-day-moving-average">Ondo flips the 50-day moving average</h2>
<p>Ondo token bottomed at $0.54 earlier this month as most coins pulled back. It has now bounced back, crossing the 50-day moving average and the 61.8% Fibonacci retracement point.</p>
<p>The Relative Strength Index and the moving average convergence/divergence have also continued rising, in a sign that the token is gaining momentum.</p>
<p>Additionally, the volume in the spot market has been rising, while the futures open interest reached $107 million, its highest level since Aug. 25.</p>
<p>Therefore, Ondo is likely to continue rising, with the next reference level being the 50% retracement point at $0.8392.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/ondos-usdy-launches-on-arbitrum/"> Ondo’s USDY launches on Arbitrum </a></p>

Ondo price boosted by rising assets, OUSG’s Sky application

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