Ondo Finance (ONDO) Rallies on Upbit Listing and Bullish Bitcoin

Ondo Finance (ONDO), the native token of the real-world asset (RWA) tokenization project, has seen a surge in price and activity in recent

Written by: Arslan Butt • Friday, June 14, 2024 • 1 min read

• Last updated: Friday, June 14, 2024

Ondo Finance (ONDO) Rallies on Upbit Listing and Bullish Bitcoin

Ondo Finance (ONDO), the native token of the real-world asset (RWA) tokenization project, has seen a surge in price and activity in recent days.

Upbit Listing Boosts ONDO Price

ONDO was listed on Upbit, South Korea’s largest crypto exchange, on June 14th.

Price jumped 15% following the announcement, reaching $1.39 from $1.21.
Price has since settled around $1.29.

Whale Profits

On-chain data shows two crypto whales deposited nearly $3.9 million in ONDO to Bybit after the Upbit listing. These whales cashed out a portion of their holdings, profiting millions. Despite the profit-taking, Ondo remains the leading cryptocurrency in the RWA tokenization sector by market cap ($1.87 billion).

Ondo Finance’s Expanding Partnerships

Ondo Finance continues to promote its USDY stablecoin. It recently partnered with Helio and Shopify to enable USDY as a settlement option for Shopify merchants. This allows merchants to accept cryptocurrency payments with real-time conversion to USDY.

Ondo’s Potential

Recent price surge and expanding partnerships highlight the project’s potential. Ondo Finance is a significant player in the RWA tokenization industry.

Bullish Sentiment

Over 90% of ONDO holders are currently “in the money.” Ondo’s transaction volume has surged over 300% since May, indicating high on-chain activity. ONDO has maintained the highest transaction volume compared to other RWA tokens.