ONDO Surges as Institutions Pour Millions Into Coinbase Prime

 

Institutions Betting Big: $12.2 Million ONDO Deposited in Coinbase Prime

Institutional investors have shown increasing confidence in Ondo Finance by depositing $12.2 million worth of ONDO tokens into Coinbase Prime. This significant movement highlights a growing demand for ONDO as the project continues to gain recognition in the Real World Assets (RWA) sector.

According to Spot On Chain, wallets associated with Ondo Finance transferred 13.83 million ONDO tokens to Coinbase Prime. These wallets had previously received 49.41 million ONDO ($35.4 million) each from Ondo Finance's multi-signature wallet on September 24, 2024, when ONDO was valued at $0.717.

To date, 69.17 million ONDO ($74.9 million) has been deposited, averaging $1.083 per token. Seven wallets currently hold a total of 276.7 million ONDO ($244 million), with each wallet holding 39.53 million ONDO ($34.8 million).

ONDO Breaks Key Resistance, Confirming Bullish Momentum

Strong Buying Pressure and Trendline Breakout

ONDO recently broke through a significant resistance level of $0.92, demonstrating robust bullish momentum. This breakout is marked by consistent higher lows, signaling increased buying pressure and confidence among investors.

Before the breakout, ONDO experienced an accumulation phase with repeated retests of its ascending trendline. This steady demand indicated strong market interest, setting the stage for the bullish run that followed.

Turning Resistance into Support

With the breakout, the $0.92 level has transitioned from a strong resistance to a solid support zone. The surge in trading volume during the breakout further confirmed heightened investor confidence, while the absence of major pullbacks indicates a continued bullish trajectory.

Why Institutions Are Bullish on ONDO: The RWA Connection

ONDO's growth aligns closely with the rising narrative around Real World Assets (RWA), an increasingly popular sector in the crypto space. As a leading player in RWA, ONDO has secured significant partnerships, including with BlackRock, which adds further credibility to its potential.

The inclusion of ONDO in Trump's crypto portfolio has also added to its reputation, drawing more attention from institutional investors. The increasing institutional demand could solidify ONDO's position as a key player in this rapidly evolving market.

Future Prospects: Can ONDO Maintain Its Momentum?

• Support and Resistance: The $0.92 level now acts as a strong support. If ONDO maintains this level, it could serve as a launching point for further gains.

• Institutional Confidence: The growing institutional involvement reinforces ONDO's credibility and potential as a long-term investment.

• Market Sentiment: With its strong fundamentals and increasing adoption in the RWA sector, ONDO is likely to attract more investors looking for promising opportunities in 2025.

Conclusion: Is ONDO a Solid Bet for 2025?

With significant institutional backing, strategic partnerships, and a crucial role in the expanding RWA market, ONDO appears well-positioned for further growth. If momentum continues, the token could reach new heights, potentially breaking additional resistance levels.

Stay updated with the latest cryptocurrency news and insights at BitcoinTan.com. Don't miss out on key market trends and investment opportunities!