- ONDO token has logged massive gains.
- The token reached a new all-time high price.
- The rally coincides with several favorable factors.
ONDO briefly touched a new all-time high price point on Thursday as the overall crypto market showed a sign of quick recovery following the Federal Reserve’s second policy meeting of the year yesterday.
ONDO is the native token of Ondo Finance, a tokenized real-world asset (RWA) platform aiming to make institutional-grade financial products and services “available to everyone.” The token launched on January 18 with a $150 million market cap and a fully diluted valuation of $870 million.
ONDO Jumps to a New All-Time High
According to CoinMarketCap data, ONDO gained nearly 40% on March 21 to trade at an all-time high price of $0.7745 at around 01:30 UTC. The rapid rally propelled the token to the top 100 cryptos list with a market cap of $1,054,018,415.
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At last check, the token was trading at around $0.75 with a 60.3% uptick in 24-hour trading volume.
Besides the Fed’s decision to hold rates, which ended a weeklong dismal performance in the crypto market, several other factors could have likely contributed to ONDO’s march to a new ATH, including a recent expansion by Ondo Finance.
On March 20, Ondo Finance unveiled Ondo Global Markets, a venture seeking to expand the company’s tokenized asset offerings across multiple chains, having previously integrated with Sui, Solana, and Aptos blockchains.
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At the same time, Santiment data shows that the number of whale transactions consisting of at least $100K ONDO jumped from 68 to 91 unique transactions in the last 24 hours. This activity could trigger high price volatility.
Read this article and learn how to stay safe from Ondo Finance copycat tokens:
Beware of Ondo Finance Honeypot Tokens: How to Stay Safe
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