Ondo (#ONDO ) has continued its impressive rally, soaring to an all-time high of $2.14 on Monday after a remarkable 21% gain last week. This upward momentum is largely attributed to a significant purchase by World Liberty Financial (WFLI), a DeFi platform backed by U.S. President-elect Donald Trump. According to on-chain data, WFLI acquired 134,200 ONDO tokens worth $250,000, fueling renewed market interest and pushing open interest levels to record highs.
ONDO Hits $2.14 โ A New Record๐ค
After finding strong support at $1.37 last week, ONDO has climbed nearly 200% since early November, establishing a fresh all-time high of $2.14. Analysts suggest the rally isnโt over yet, with projections targeting $2.51 as the next key level. This aligns with the 141.4% Fibonacci extension calculated from Octoberโs $0.588 low to Decemberโs $1.95 high.
However, the daily Relative Strength Index (RSI) of 78 signals overbought conditions, hinting at a potential pullback if the RSI dips below 70. A temporary correction could precede further gains, given the underlying strength in market dynamics and recent high-profile token acquisitions.
Trump-Backed WFLI Fuels ONDOโs Momentum๐จ
The rally gained an extra boost on Monday when World Liberty Financial added ONDO tokens to its portfolio, highlighting the increasing adoption of real-world asset (RWA) tokens. Data from blockchain analytics firm Data Nerd revealed that WFLI exchanged $250,000 USDC for 134,200 ONDO tokens via a multisig wallet.
Meanwhile๐, Coinglass data shows ONDO futures open interest (OI) on exchanges skyrocketed from $258.57 million on December 10 to an unprecedented $426.36 million. This surge in OI indicates a wave of new capital entering the market, further bolstering ONDOโs bullish trajectory.
With record-breaking performance and strong institutional interest, Ondoโs upward journey could mark the beginning of a new era for the token in the DeFi landscape. Investors are eagerly watching for the next milestone as ONDO continues to defy expectations.
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