Price Forecast: Ondo hits record high following Trump-backed DeFi project acquisition

After rising almost 21% in the previous week, Ondo hits a record $2.15 on Monday.

On-chain data indicated Donald Trump-backed World Liberty Financial bought 134,200 Ondo tokens worth $250K, setting a new record.

ONDO open interest hits a record, signaling a rise to $2.53.

After surging 20% the week before, Ondo (ONDO) hits a new record high of $2.14 on Monday. On-chain data indicated US President-elect Donald Trump-backed World Liberty Financial acquired 134,200 Ondo tokens and open interest hit record levels, indicating a continuation of the boom.

Ondo reaches $2.14, a record.
After finding support around $1.37 the week before, Ondo established a new all-time high (ATH) of $2.14 on Monday. ONDO has gained almost 200% in six weeks since early November.

ONDO price will touch $2.51 ATH if the surge continues. The 141.4% Fibonacci extension line from October's $0.588 low to December's $1.95 high matches this level.

On the daily chart, the RSI is 78, indicating overbought circumstances and a possible correction. A retreat may occur when an RSI falls below 70.

Recent ONDO token purchases by a Trump-backed DeFi platform bolster this rally. On Monday, Trump-backed World Liberty Financial (WFLI) added RWA to its portfolio, according Data Nerd. Multisig wallet exchanged $250K USDC stablecoin for 134,200 Ondo tokens.

Coinglass data reveals that exchanges' ONDO futures Open Interest (OI) surged from $258.57 million on December 10 to $426.36 million on Monday, its highest level since inception. An growing OI indicates fresh money entering the market and purchasing, suggesting an Ondo price surge.

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