Ondo Finance (ONDO) Surges as Trump-Backed World Liberty Financial Makes Strategic Investment
Ondo Finance (ONDO) has experienced a 14% gain in the past 24 hours following a strategic investment by World Liberty Financial, a DeFi project associated with the Trump family.
World Liberty Financial (WLFI) Buys Over 134,000 ONDO Tokens
On December 16, 2024, World Liberty Financial purchased 134,216 ONDO tokens for approximately 250,000 USDC through the Cow Protocol. The acquisition, executed at an average price of $1.83, has sparked immediate market interest and contributed to a short-term price surge.
What is Ondo Finance: Bridging Traditional and Decentralized Finance?
Ondo Finance has positioned itself as a innovative player in the real-world asset (RWA) tokenization sector. The platform’s key products include:
- OUSG: A tokenized short-term treasury fund
- Ondo USD Yield (USDY): An interest-bearing stablecoin
ONDO/USD Technical Analysis and Price Performance
ONDO is trading at $2.09 at the time of writing, having increased remarkably 14% over the past 24 hours and shockingly 30% over the past week. With a market value of $2.88 billion and a 24-hour trading volume of $557 million, the token today ranks 53rd on CoinMarketCap.
The token has been testing price discovery since early December, breaking its previous all-time high of $1.48. Technical analysts are closely monitoring exchange inflows, which could indicate potential significant price movements.
Key levels to watch:
- Support Level: $1.83
- Resistance Level: $2.20
World Liberty Financial’s investment in Ondo comes at a period of increasing institutional focus. Notable crypto investor Dan Morehead of Pantera Capital recently highlighted ONDO as one of the “interesting” tokens in their portfolio, adding credibility to the project.
World Liberty’s Crypto Strategy
This ONDO purchase is part of a broader investment strategy by World Liberty Financial. Since November 30, the project has spent approximately $44.74 million acquiring various tokens, including:
- 2,631 ETH at $3,801
- Significant purchases of LINK, AAVE, and ENA
- Recent ONDO token purchase
World Liberty Financial’s strategic investment in ONDO, coupled with growing institutional interest, suggests increasing confidence in Ondo Finance’s approach to tokenizing real-world assets (RWAs). The project’s innovative model of bridging traditional finance with blockchain technology appears to be gaining traction.
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