Key Insights
- ONDO new addresses jump 390% in 24 hours, signaling strong adoption.
- Real-World Assets sector leads with 16.3% gains as ONDO dominates.
ONDO crypto has been in talk among the market participants amidst the growing network activity. While dominating the Real World Space (RWAs), it has been a top performer in the past few sessions.
At press time, ONDO price was trading at $0.8647, noting an intraday surge of over 2.82%. Its market cap soared to $2.73 Billion and ranked 33rd in the overall crypto market.
ONDO Adoption Skyrockets with 390% Jump in Addresses
ONDO crypto’s network activity showcased a massive outperformance as the users’ data witnessed a significant rise. The new addresses have surged over 390% during the past 24 hours.
The substantial rise in platform adoption means investors show growing trust in the platform and more people have started using it.
However, ONDO price has not gained much pace with the network expansion that occurred lately. ONDO price has been hovering below its key EMAs and looks bearish on the chart.
The token price did not increase in step with network growth because short term selling pressure remained high.
The token stands as one of the leading players in RWA despite holding a market cap of $2.68 Billion. Current adoption trends suggest that the start of a new potential demand will occur soon.
ONDO Price Gains Traction as RWA Sector Outpaces the Market
Real World Assets (RWAs) demonstrated their status as the crypto sector with the best performance throughout the past 30 days.
According to crypto analyst TedPillows, Real World Assets will dominate the market discussion for years ahead, while ONDO emerges as the market leader.
According to Artemis data, the Real-World Assets sector demonstrated a 29.3% increase, while Bitcoin Ecosystem (-41.8%) and Gaming (-44.9%) experienced significant market declines.
Furthermore, the institutional support from Coinbase strengthens ONDO’s position in the expanding sector while adding both credibility and potential long-term stability.
ONDO Price Prediction: Key Levels to Watch
Data from Coinglass shows that 74% of addresses were in the profit and 24% were in loss. It means that these profitable holders were less likely to square off their positions.
At press time, around 13.2k addresses were bought 6.97 billion ONDO tokens at a weighted price of $0.7500. It would act as a critical support zone, whereas bulls need to clear the resistance zone of $0.9579.
Around 12.22k addresses were bought 236.37 million tokens which would act as a significant barrier in the coming sessions.
A recent post by Cryptot Avi highlighted that ONDO crypto has been moving lower highs and lower lows and capped inside a falling wedge pattern on the daily timeframe.
In case of successful breakout, ONDO crypto could see a significant rally and may reach $7-$9 in the mid term.
However, a drop below the $0.8000 would invalidate the bullish thesis and a significant decline could be seen ahead.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.