ONDO Price Aims for $1 Breakout Amid Investor Interest

Over the past week, the price of ONDO, the native cryptocurrency of Ondo Finance, has surged by 150%, aiming for a breakout over $1.

Over the past week, the price of ONDO, the native cryptocurrency of Ondo Finance, has experienced a significant increase, increasing by an astounding 150%.

At this moment, the price of Ondo is aiming for a substantial breakout over $1 to continue the advance with more incredible momentum.

As a result of the significant increase in the price of ONDO that occurred over the previous week, which went from $0.40 to $0.90, the number of holders of the cryptocurrency effectively doubled within a single month.

ONDO Investor Base Doubles In A Month

During the first few months of 2024, ONDO witnessed a steady increase in its number of investors, with daily additions numbering anywhere from 100 to 300 new investors.

On the 26th of February, the number of holders hit 4,872, a particularly noticeable manifestation of this gradual increasing trend.

There was, however, a notable acceleration in the growth trajectory after March. By the 25th of March, the number of people who held the coin had crossed the 10,000 milestone, a particularly significant accomplishment.

Within just one month, this rise in holdings reflects an increase in the investor community that is more than twice as large as before.

There is a strong correlation between this spike and the remarkable growth in the price of ONDO, which experienced a rise from $0.40 on March 19th to $0.95 on March 25th.

On the other hand, the ONDO MVRV Ratio (Z Score) garnered notice due to its extraordinary increase from 1.39 to 3.57, which indicated the possibility of a retreat before the subsequent leg of the up move.

At this moment, the price of Ondo is trading at $0.9403, representing a decrease of 1.96%. Analysts who specialize in cryptocurrencies believe that coin may see a drop to $0.84 before beginning additional higher swings.

The most recent data from Lookonchain has revealed that there has been an increase in the amount of whale activity that is associated with real-world asset tokens, with a particular concentration on the Finance.

Some noteworthy transactions that have taken place over the past month have shed light on a pattern of significant investments in these tokens, which reflects an increasing confidence in their future.

Among the noteworthy transactions are: The startling amount of 6.53 million of the tokens, which is equivalent to around $5.88 million, was taken out of Bybit by a whale that was associated with the address “0x56F9.”

A different emerging wallet, identified as “0x92dD,” has successfully withdrawn a considerable amount of 1.98 million tokens from Gateio, estimated to be worth approximately $1.78 million.

Another transaction involving Gateio was carried out via the wallet known as “0xE6bf,” which involved 937,600 the tokens. This transaction was equivalent to around $845,000.

In light of these vast moves, it is clear that whales are becoming increasingly interested in purchasing tokens representing real-world assets, notably those issued by Ondo Finance.