ONDO leads RWA space on THESE fronts – Will its price follow?
The post ONDO leads RWA space on THESE fronts – Will its price follow? appeared on BitcoinEthereumNews.com.
Journalist Posted: February 21, 2025 ONDO was dominating the RWA space as it posts the highest transaction volume, outperforming other tokens. Binance continued to accumulate the tokens as ONDO’s TVL exploded to the upside once again. Ondo [ONDO] emerged as a clear leader in the Real World Asset (RWA) space, recording transaction volumes that far surpass its competitors. The peak for ONDO in January 2025 reached approximately $500 million, a significant spike compared to its nearest competitor, MKR, which posted the highest volume of just under $50 million during the same period. Other tokens like PAXG, GFI, and DAKS displayed much lower activity, generally remaining below the $25 million mark throughout. Source: IntoTheBlock ONDO’s Total Value Locked (TVL) has increased, signaling strong investor confidence and market dominance. This substantial volume difference highlights the coin’s superior market position and possibly its greater utility or adoption within the sector. Comparatively, tokens such as XAUT, BUIDL, and BKN show minimal transaction activities, barely crossing the $5 million threshold. This underscores ONDO’s standout performance in a relatively sluggish market environment. This data suggests the coin is not only leading but also potentially expanding its influence in the RWA market. How will ONDO react to Binance buying? Binance’s notable accumulation indicates potential dynamics influencing ONDO’s next move. Recent transactions reveal Binance’s strategic increase in its holdings, including acquiring 36.03K ONDO for $44.32K. This buying pattern by a major exchange typically signals strong confidence in the asset’s future performance, possibly stabilizing prices or initiating an uptrend. At press time, ONDO was trading at $1.23, hovering above the $1.14 level, which coincides with the 200 EMA support level. If sustained, this zone suggests a potential base for upward movement. However, a break below this level could lead to declines. Source: TradingView Prior resistance near $2.15, if retested…
Filed under: News - @ February 21, 2025 3:22 am