Real World Assets (RWAs) are not following the ongoing Bitcoin price decline trajectory. This has caught the attention of Joshua Jake, the CEO of Discover Crypto, who posted about it to discuss what could be causing the strength of these RWA asset classes using ONDO as an example.
Ondo Finance is a cross-chain DeFi project operating in the RWA space. Specializing in tokenized securities, Ondo offers yield-bearing opportunities backed by US Treasuries and other assets like Blackrock’s $BUIDL. This unique positioning in the market has contributed to its recent success.
Recent Price Action and Market Performance
Despite the overall crypto market correction, Ondo’s price action has remained stable. Since Joshua’s last major analysis, $ONDO has almost doubled in value to reach a recent high of around $1.50. The ongoing price corrections from many cryptos are not affecting its price, making it remain strong.
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Strategic Partnerships Fueling Growth
Ondo Finance has been proactive in expanding its ecosystem through strategic partnerships:
Nonco OTC: This collaboration aims to deepen liquidity for $USDY, Ondo’s stablecoin.
Hex Trust: A partnership focused on expanding custody solutions for Ondo’s assets.
Drift Protocol: Perhaps the most significant recent development, this partnership allows $USDY to be used as collateral in perpetual markets.
The Drift Protocol Partnership: A Game-Changer
The collaboration with Drift Protocol has generated significant buzz in the crypto community. By enabling $USDY to be used as collateral for perpetual markets, Ondo is tapping into a massive market opportunity. Traders can now earn yield while backing their trades, providing a compelling use case for Ondo’s assets.
To put this into perspective, the crypto perpetual market saw $2 trillion in trading volume during the bear market, surpassing Uniswap’s highest historic trading volume. In April, it reached a record $6 trillion, highlighting the immense potential of this market segment.
ONDO Price Prediction and Future Outlook
Given Ondo’s recent performance and strategic moves, the future looks promising for $ONDO. The token has already achieved the previously predicted range of $1-2. Looking ahead, if other derivative platforms follow Drift’s lead and integrate Ondo, we could potentially see $ONDO reaching $12-15 by 2025. This represents a significant potential return from current price levels.
Read Also: Why is Notcoin (NOT) Price Up?
Factors Contributing to RWA Resilience
Several factors may be contributing to the strong performance of RWAs like Ondo in the face of broader market volatility:
Real-world backing: Assets tied to tangible, real-world value may be seen as more stable during times of crypto market uncertainty.
Yield opportunities: In an inflationary environment, yield-bearing assets become increasingly attractive to investors.
Expanding use cases: Partnerships like the one with Drift Protocol create new utility for RWA-backed tokens, driving demand.
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The post Why Are RWA Crypto Assets Pumping Despite Bitcoin (BTC) Price Decline? ONDO Price Prediction appeared first on CaptainAltcoin.