- Ondo token surges 30%, reaching ATH amidst market rebound.
- The daily RSI is at 74, signaling the overbought trend.
Amidst a gradual market recovery, Ondo [ONDO] has emerged as a standout performer, buoyed by transactional activity. Over the past 24 hours, while the broader market has seen a modest 5% uptick, Ondo has surged impressively by 30%, reaching an all-time high of $0.9494.
This surge in value is indicative of a broader positive trend for Ondo, with a remarkable 96% increase over the past seven days. The surge in price has been complemented by a surge in trading volume, up by 138% within a single day. And a 30% increase in market capitalization, propelled Ondo to 82nd in the top cryptocurrency rankings.
ONDO Whales’ Big Steps
Lookonchain points to a significant accumulation of Ondo tokens by large holders, or “whales.” Notable transactions include Whale “0x56F9” withdrawing 6.53 million ONDO ($5.88 million) from Bybit in the past month, and a fresh wallet, 0x92d, withdrawing 1.98 million ONDO ($1.78 million) from Gateio in the past hour. Additionally, wallet “0xE6bf” withdrew 937,600 ONDO ($845,000) from Gateio three hours ago.
Also, Spot on Chain, a prominent cryptocurrency analytics platform, has also reported positive sentiment surrounding Ondo. The price of the RWA token has surged by approximately 93% over the past five days, reflecting growing confidence among investors.
Recent transactional activity on Coinbase further underscores Ondo’s market activity. On March 22, the multisign wallet 0x677 deposited 49.9 million ONDO ($36.38 million) to Coinbase at $0.729. Subsequently, 10 fresh wallets withdrew 49.7 million ONDO ($36.9 million) from Coinbase at approximately $0.743, collectively making $9.93 million after three days.
Moreover, technical indicators for Ondo remain positive, with the seven-day Exponential Moving Average (EMA) suggesting a sustained upward trend, while the Relative Strength Index (RSI) signals strong buying momentum.
