Ondo Finance (ONDO) Rallies on Upbit Listing and Bullish Bitcoin

Ondo Finance (ONDO) Rallies on Upbit Listing and Bullish Bitcoin

Ondo Finance (ONDO), the native token of the real-world asset (RWA) tokenization project, has seen a surge in price and activity in recent days.

Upbit Listing Boosts ONDO Price

ONDO was listed on Upbit, South Korea’s largest crypto exchange, on June 14th.

  • Price jumped 15% following the announcement, reaching $1.39 from $1.21.
  • Price has since settled around $1.29.

Whale Profits

On-chain data shows two crypto whales deposited nearly $3.9 million in ONDO to Bybit after the Upbit listing. These whales cashed out a portion of their holdings, profiting millions. Despite the profit-taking, Ondo remains the leading cryptocurrency in the RWA tokenization sector by market cap ($1.87 billion).

Ondo Finance’s Expanding Partnerships

Ondo Finance continues to promote its USDY stablecoin. It recently partnered with Helio and Shopify to enable USDY as a settlement option for Shopify merchants. This allows merchants to accept cryptocurrency payments with real-time conversion to USDY.

Ondo’s Potential

Recent price surge and expanding partnerships highlight the project’s potential. Ondo Finance is a significant player in the RWA tokenization industry.

Bullish Sentiment

Over 90% of ONDO holders are currently “in the money.” Ondo’s transaction volume has surged over 300% since May, indicating high on-chain activity. ONDO has maintained the highest transaction volume compared to other RWA tokens.

ONDO Price Prediction

The recent rally suggests ONDO could reach its all-time high of $1.48 sooner than expected. Potential price targets based on market cap increase:

  • $1.88 (25% increase)
  • $2.30 (50% increase)
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Avatar
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments