Ondo Finance has launched Ondo Global Markets to expand tokenized asset offerings. This is a part of the mission to expand across multiple chains, having previously integrated with Solana, Sui, and Aptos blockchains. Members of the community have responded positively to this development, and so has its native token, ONDO.
The native token of the DeFi protocol aims to democratize access to institutional-grade financial products. ONDO was initially marking an uptick of 25.84%. That has grown to 40.90% in the last 24 hours. ONDO is exchanging hands at $0.5757, which reflects a rise of 72.265 in the previous 30 days when writing this article.
The lowest that ONDO has recently hit is $0.40. It is likely to set a resistance margin at $0.5; sustaining the same for a long time could pave the way for a higher surge- probably to $0.75 by the end of this year.
The interest in ONDO, or the crypto market at a macro level, is slated to take a turn when the Federal Reserve announces its decision about the rate cut or keeping it the same. There is speculation that the Fed could retain it at a 23-year peak between 5.25% and 5.50%. The target is to bring inflation under 2%, but the fears about inflation returning to the market are rising.
With election year ongoing, chances are that movement on the chart could be halted for a while. Also, the crypto sphere may attract more attention if there is harm to the US Treasury yield. That would benefit ONDO and other cryptos. The current movement of ONDO on the graph reflects an upward trajectory. That is a bullish sign for the near term, considering there is a trend of falling prices since two dominating tokens have taken severe hits.
NEAR is reported to have registered a jump following the expansion of the protocol to Five Shards Enhancing Network Capacity and Scalability, making NEAR the top performer for markets closing on March 15, 2024. The token has now retraced to a slip of 2.38% in the last 24 hours, listed at $6.40. It almost surpassed the milestone of $7 during the 24-hour window.
Meanwhile, it has been noted that Slerf, a Solana-based meme coin, has exceeded the trading volume of all Eterheum-based DEXs in just a single day from its launch. Transactions are estimated at around $2.7 billion, probably triggered by the action of a developer who accidentally sent all raised funds to a burn address.
BTC and ETH are currently down from their recent ATH. The market is not precisely rising from the ashes but is not performing as it should be during its peak either.
Source: https://www.cryptonewsz.com/ondo-finance-marks-an-uptick-in-ondo-following-the-launch-of-global-markets/