In this historical period there are some cryptocurrencies whose prices are performing in a particularly unique way: we are talking about Ondo, Patex and Bonk.
Latest crypto news at Ondo, Patex, and Bonk prices
Ondo is one of the most interesting cryptos at the moment.
ONDO is the Ethereum token of Ondo DAO, and grants specific rights in Flux Finance.
The Ondo Finance project is related to the tokenization of real assets (RWA, Real World Asset), which is one of the fastest growing sectors within the crypto world.
Around it, Flux Finance is a platform that allows loans in stablecoin collateralized in tokenized US bonds.
The Ondo token made its debut on the crypto markets only at the beginning of 2024, so there is little historical data to analyze. Furthermore, the project’s platforms have not yet had time to prove themselves to be solid and long-lasting.
Nevertheless, in less than three months the price of Ondo has risen from the initial $0.17 to the current $0.88, with a gain of 415%.
The all-time high was reached three days ago at almost $1, but if the current medium-term trend continues, it is possible that it will be updated in the coming weeks.
However, it is necessary to pay close attention to this project, because there is a possibility that RWAs may be considered securities in financial markets, and in that case they could not be freely traded on platforms that are not specifically registered and authorized to deal with securities.
Furthermore, giants like BlackRock are also entering the RWA sector, which do not have authorization problems, so the competition could be significant.
However, throughout the duration of the bullrun, it is possible to ride the wave of tokens linked to RWAs, even if it is primarily just propaganda.
Therefore, the doubt is not so much about short-term resistance, but about long-term resistance, since the RWA sector is just beginning, and it will presumably take some more time before giants like BlackRock fully appropriate it.
The trend of Patex
Patex is also a token on Ethereum, and this token has also debuted on the crypto markets only this year.
This is always a project related to RWAs, so the same considerations just made for Ondo apply.
The price trend of Patex on the crypto markets, however, is decidedly different.
While Ondo debuted at a very low price, and then has almost done nothing but rise, Patex instead debuted at prices in line with current ones.
But after all, it landed on the crypto markets less than three weeks ago, so it could still be only in its initial phase.
The debut was made at around $6.5, with a first peak at $9.7, a subsequent drop below $5, and a rise up to the current $7.3.
It is therefore a fairly volatile token, more than Ondo, which has not yet really taken off on the crypto markets.
The Patex project is specifically targeting the Latin American market, and includes an ecosystem of tools that should enable the tokenization and exchange of RWA.
At this moment it is very difficult to say how solid this project really is, and what concrete potential it has, besides the fact that the crypto sector of RWA seems to be currently dominated by Ondo.
The trend of Bonk
Bonk instead has nothing to do with RWA, because it is a memecoin on Solana.
The token made its debut on the crypto markets at the end of 2022, so it has been traded for almost a year and a half.
The initial debut took place at very low prices, but this is a typical characteristic of memecoins, which usually perform very poorly until the moment of the boom.
The price of Bonk tends to enter a bull run at the end of the year, in view of Christmas, since its project revolves around this event.
Indeed, by the end of 2022 it had already recorded a first boom with a spectacular +3,000% in just a few weeks.
However, he had then lost a large part of those earnings, only to repeat themselves at the end of 2023.
Indeed, starting from mid-October the price started to rise again, going from 0.2 millionths of a dollar to 25 millionths in about two months. The gain was 12,000%.
As often happens in these cases, it was a speculative bubble that burst at the beginning of 2024, but the price did not drop much below 10 millionths of a dollar.
In March, a new speculative bubble inflated, leading to new all-time highs above 45 million dollars. Now it has dropped back to 27 million, but it is not possible to completely exclude the possibility of new bubbles inflating.
It is worth noting that, despite the three sensational booms, its market capitalization is still less than 1.8 billion dollars, while other longer-standing memecoins, such as Shiba Inu, have a market capitalization even ten times higher.
So the potential for some new bubble seems to be there, even if not with gains similar to those of the past.
