Ondo Finance coin continued its strong rally, reaching an all-time high on Monday, Dec. 16, as Donald Trump’s World Liberty Finance continued its buying spree.
Ondo Finance (ONDO), one of the leading players in the tokenization industry, surged to a high of $2.15, marking an increase of over 327% from its August low
The rally was primarily driven by World Liberty Finance, platform associated with Donald Trump, which purchased ONDO tokens worth over $250,000. These purchases were a continuation of a process that started recently. It bought Ethereum tokens worth $57 million, USDC worth $6.1 million, and AAVE worth $2.3 million.
WLFI’s portfolio also includes Bitcoin derivatives, Chainlink, Ethena, Grok, and REKT. According to Nansen, the total value of its holdings now exceeds $83.7 million.
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Ondo Finance’s growth is also fueled by the expanding tokenization industry. Data from its website indicates that the total value locked in Ondo’s network exceeds $615 million. The TVL comprises $449 million in assets from its US Dollar Yield tokenized product and $173 million from its US Treasuries tokens.
Ondo is also jumping as demand for Real World Asset tokenization continues. Analysts believe that RWA tokenization will get to $50 billion in 2025 and Ondo will be a crucial part in this industry.
2025 PREDICTION: Tokenized real-world assets (RWAs) will reach $50B.Wall Street is starting to recognize that tokenization offers clear advantages. We suspect that a wave of big institutional money is about to pour in. Note: Predictions are not guarantees and are not… pic.twitter.com/tXnHBYpwKK
— Bitwise (@BitwiseInvest) December 13, 2024
Ondo Finance price analysis
ONDO price chart | Source: crypto.news
The daily chart shows that ONDO has maintained a strong uptrend over the past few months. It recently broke above a critical resistance level at $1.4840, completing the upper side of a cup-and-handle pattern.
Ondo has also surpassed the pivot and reverse point of the Murrey Math Lines at $2. The coin remains above all major moving averages, indicating that bulls are firmly in control. Additionally, oscillators like the Relative Strength Index (RSI) and the MACD are pointing upwards.
As a result, Ondo Finance’s price is expected to continue rising, with bulls targeting the key resistance level at $2.5, approximately 25% above the current price. This target is derived from the depth of the cup pattern projected from the breakout point. However, a drop below the support level at $1.48 would invalidate the bullish outlook.
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