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Ondo Finance (ONDO) has recorded substantial growth lately, maintaining bullish trends over the past week after a 45% surge.
Amidst the optimism, Santiment’s data shows an uptick in large ONDO transactions. Token transfers worth over $100K climbed to 91 from 68 within the past day.
The uptick in market-moving transactions follow the latest developments about BlackRock venturing into the RWA sector by launching a tokenized digital fund.
The surged whale activity matches the substantial decline in the token’s supply on crypto exchanges. Santiment shows the metric slumped to 529.6 million from 536.64 million over the last 24 hours.
That confirms the increasing tendency of players to refrain from profit-taking as they expect further price surges.
Ondo Finance growth
The real-world asset tokenization firm has expanded exponentially since expanding into the Asia Pacific market early in 2024. That allowed it to explore a booming industry, allowing global investors to access tokenized United States assets.
BlackRock’s move into the real-world asset tokenization industry has sparked optimism on the tokenization market.
🚀🔥 #RWA space is bullish! With @BlackRock’s USDC play, eyes are on the next movers! 🌐💼 Check these top 10 projects!👇 #CryptoInnovation
— Camil Alexis Gurrola (@CamilGurrola) March 22, 2024
The increasing interest in real-world tokenized assets bodes well for Ondo Finance’s expansion, translating to record growth for ONDO prices.
Ondo Finance introduced Ondo Global Markets early this week. The new platform will connect traditional and decentralized finance (DeFi) through digital representations of real-world assets.
ONDO’s current price actions
ONDO skyrocketed to $0.8162 all-time high after securing reliable support at $0.6931. However, it trades at $0.7095 at press time, following slight declines.
It’s last week’s bullish performance propelled it to the top 100 list by value as market capitalization jumped to $1,048,139,298.
ONDO 7D Chart on Coinmarketcap
Nevertheless, enthusiasts can expect near-term slight correction as RSI indicates overbought conditions.
Ondo Finance’s current outlook reflects increasing investor trust in the project and its RWA tokenization services.
The post Whales scoop Ondo Finance (ONDO) following BlackRock’s latest RWA move appeared first on Invezz
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