Whales Buy ONDO Under $1 as RWA Tokenization Surges 7000%
ONDO’s tokenization of real-world assets (RWA) has surged 7000% since 2023, with Ondo Finance leading at $1.3 billion AUM. A whale purchased 1.35 million ONDO tokens under $1, signaling investor confidence amid broader market declines. Stablecoins on Solana grew to $250 million. ONDO expanded minting to CoWSwap, testing American Express tokenization. Despite strong fundamentals, ONDO’s price formed two bearish reversal patterns, dropping from $1.15 to $0.85 and from $1.10 to $0.90. Support at $0.90 aligns with a Chaikin Money Flow uptrend (0.17), but head-and-shoulders could push price back to $0.85. Traders should watch ONDO’s ability to hold $0.90 and wider Bitcoin market reactions for potential rebounds.
Neutral
Strong on-chain growth and whale accumulation underpin ONDO’s long-term outlook. The 7000% surge in RWA tokenization and $1.3 billion AUM emphasize robust fundamentals. However, two bearish reversal patterns and a head-and-shoulders formation indicate potential short-term pullbacks toward $0.85. Chaikin Money Flow shows inflows, but support at $0.90 hinges on broader Bitcoin market sentiment. Historically, rapid tokenization projects have undergone similar corrections before resuming upward trends. As a result, traders may see choppy price action in the near term, while long-term prospects remain cautiously optimistic.