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Whales accumulate ONDO amid a RWA tokens buying frenzy

CoinJournal

Cryptocoins News / CoinJournal 24 Views

  • ONDO is one of the RWA tokens attracting huge attention.
  • Whale activity spikes amid tokenization spree.
  • Data shows whales are buying tokens such as Polymesh, Pendle and TokenFi.

Ondo Finance has surged into the top 100 cryptocurrencies by market cap amid upside momentum for its native token ONDO.

On Monday, March 25, the price of ONDO rose to a new all-time high of $0.9702. Intraday gains at the time of writing was 15%, while Ondo Finance has surged more than 88% this past week and over 116% in the last 30 days.

ONDO price hovered around $0.8997 at the time of writing.

ONDO surges amid whale activity

The real-world-assets (RWAs) space is one of the hottest crypto segments today, with multiple projects in the sector rallying amid unprecedented surge in interest and investment.

Whales or large investors have aggressively looked to add to their positions in RWA related coins.

Ondo Finance’s growth in the RWA ecosystem has seen large investors take notice. Data shared by Lookonchain shows large withdrawals of ONDO from exchanges. This includes 6.53 million ONDO from Bybit last month and 2.9 million ONDO from Gateio earlier today

Ondo Finance announced the launch of Ondo Global Markets in February. The mission is to bring publicly-traded securities on-chain, offering native access to traditional securities.

Meanwhile, the price of Ondo recently jumped by more than 40% as the market reacted to news around BlackRock’s USD Institutional Digital Liquidity Fund.

Other than ONDO, other tokens witnessing huge attention across the space are Centrifuge, Polymesh, Pendle and TokenFi. Polymesh’s price has jumped 87% this past week, while TokenFi’s price has jumped 160%.

According to data from CoinGecko, the RWA market cap has increased by more than 17% in the past 24 hours to over $6.6 billion. The 24-hour trading volume for the sector is over $1.16 billion.

The post Whales accumulate ONDO amid a RWA tokens buying frenzy appeared first on CoinJournal.


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