The native token of Ondo Finance, ONDO, reached a new all-time high (ATH) as the market displayed signs of a quick recovery. ONDO saw a 39% increase in the past 24 hours, currently trading at $0.70. The token hit a new ATH of $0.77 on March 21 at 01:30 UTC, propelling it to the top 100 cryptos list with a market cap of $974 million.

According to data from Santiment, the number of whale transactions involving at least $100,000 worth of ONDO rose from 68 to 91 unique transactions in the last 24 hours. Increased whale activity often indicates high price volatility.

On the other hand, ONDO’s supply on exchanges decreased from 536.64 million to 529.60 million tokens since March 18, suggesting that some investors are anticipating a further price increase rather than short-term profit-taking.

Additionally, ONDO’s Relative Strength Index (RSI) climbed from 50 to 59 in the past day, indicating that the asset is slightly overheated and could be susceptible to whale price manipulation.

In January, Ondo Finance expanded its real-world assets (RWA) tokenization operations into the Asia Pacific region. The company offers international investors the opportunity to access U.S. asset classes through tokenization, holding a 40% market share.

For more news and updates on the cryptocurrency market, visit Global Crypto News.

Post Views: 6