ONDO briefly touches new ATH, whale activity surges

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The native token of Ondo Finance, ONDO, touched a brand new all-time excessive (ATH) because the market confirmed indicators of a fast restoration.

ONDO is up by 39% up to now 24 hours and is buying and selling at $0.70 on the time of writing. Notably, the asset reached a brand new ATH of $0.77 at round 01:30 UTC on March 21. ONDO’s value rally introduced the token to the highest 100 cryptos listing with a complete market cap of $974 million.

ONDO briefly touches new ATH, whale activity surges - 1
ONDO value, RSI, provide on exchanges and whale exercise – March 21 | Supply: Santiment

Based on information offered by Santiment, the variety of whale transactions consisting of at the very least $100,000 value of ONDO elevated from 68 to 91 distinctive transactions over the previous 24 hours. The heightened whale exercise normally signifies excessive value volatility.

Nonetheless, information reveals that the ONDO provide on all exchanges has dropped from 536.64 million to 529.60 million tokens since March 18, per Santiment. This motion reveals that some traders could be searching for an additional value surge fairly than short-term profit-taking.

Per information from the market intelligence platform, ONDO’s Relative Power Index (RSI) rose from 50 to 59 over the previous day. The indicator reveals that the asset is barely overheated in the mean time and there may be additionally the opportunity of whale value manipulation.

In January Ondo Finance expanded its real-world belongings (RWA) tokenization operations into the Asia Pacific area. The corporate permits worldwide traders to utilize U.S. asset lessons by way of tokenization and has a 40% market share. 

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