Asset management giant BlackRock is lagging behind Ondo Finance (ONDO) in the value of crypto treasuries locked in its protocol. The project is the governance token of a multi-chain DeFi platform for tokenizing real-world assets (RWA).

BlackRock is one of the major entities focused on tokenizing real-world assets and led a $47 million funding round for Securitize, the second-largest company by market capitalization in the space.

Ondo Finance Tops, BlackRock's Securitize Second in RWA Sector

Ondo Finance enables the trading of tokenized versions of real-world securities in a regulated environment. The DeFi platform’s governance token, ONDO, surged nearly 9% in value on Tuesday.

Data shows ONDO's market capitalization is $521.28 million, while BlackRock's Securitize is $519.31 million.

Source: Joshua Jake

The story has attracted a lot of interest and attention from market participants. Despite the sharp correction in the crypto market on Monday, the sector has still attracted interest from traders and tokens have maintained recent gains.

RWA's market capitalization is $5.679 billion, according to data from CoinGecko. The top 5 tokens in this category have maintained their upward momentum over the past 24 hours.

Source: Coingecko

Robert Mitchnick, head of digital assets at BlackRock, discussed Ethereum ETFs and tokenization in a recent interview with Bloomberg. Mitchnick said, “We think about the digital asset space across three pillars: crypto, stablecoins, and tokenization. Many of our clients are interested in investing in Bitcoin and Ether, but they are also interested in some of the applications of this technology, particularly tokenization.”

ONDO could increase by 25%

ONDO price continued to increase by 9% on Tuesday, trading at $0.7478 at the time of writing. Ondo Finance’s governance token could continue to rally by nearly 25% and move towards a target of $0.9245, the upper boundary of the Fair Value Gap (FVG) on the ONDO/USDT daily chart.

ONDO is facing resistance at two imbalance zones, from $0.75956 to $0.79013 and from $0.80962 to $0.86272, as seen on the daily chart below.

ONDO/USDT Daily Chart

The Relative Strength Index (RSI) momentum indicator shows that ONDO has now exited the “oversold” zone and is reading at 31.92, suggesting a buy signal.

On the downside, ONDO could find support in the Fair Value Gap between $0.5289 and $0.6422. If the daily candle closes below $0.74, the bullish thesis for ONDO could be invalidated.


Source: https://tapchibitcoin.io/ondo-finance-vuot-qua-blackrock-ve-gia-tri-kho-bac-token-hoa-rwa.html