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- The top 10 holders of Ondo Finance hold 87.43% of the supply.
- The sentiment of the ONDO crypto is bullish, as per a renowned source.
Ondo Finance, backed by Coinbase, is a DeFi project on Ethereum offering fixed-yield loans backed by crypto-assets.
ONDO token is used for governance in the Ondo DAO and oversees the protocol. Ondo Vaults provide risk-isolated lending and borrowing, supporting fixed and variable yield depositors. Experts from top financial and tech companies developed it.
The fear and greed index of Ondo Finance is at 73, showing greed among the investors. Also, on the technical charts, the crypto price has consistently advanced.
Crypto has a good market presence, with the dominance of crypto at 0.08% in the global crypto market. Also, the market cap ranking of the crypto is #58, as per CoinMarketCap. This further results in a volume/market cap ratio of 14.32%.
The fully diluted market cap value of the crypto is $13.959 Billion, while the market cap of the crypto is $1.939 Billion. Moreover, crypto’s fully diluted market cap has advanced by 75% in the last 30 days.
Blockchain Data Overview For Ondo Finance
The total value locked for the Ondo Finance crypto is $472.98 Million, which has consistently advanced in the last few days.
The market cap of Ondo Finance at press time was $2.032 Billion, and 134.6% of the market cap will be unlocked in seven months.
Moreover, the liquidity of the crypto is worth $16.1 Million, and 14.37% of the tokens are unlocked till now.
ONDO Crypto Technical Analysis
After breaking out from a significant level, the trading price of the ONDO crypto has advanced by 70%, witnessing strong dominance of buyers in the crypto.
The price of the ONDO crypto has been trading in a strong bullish trend since February 2024. Consistent higher highs on the crypto chart can be seen, which has advanced the price to higher levels.
The following behavior of the crypto price shows strong bulls’ dominance and higher chances of a further surge in the trading price of the crypto.
ONDO/USD Chart by TradingView
The 50-day EMA plotted on the daily chart of the ONDO crypto has consistently advanced to higher, and the price of the crypto is trading above the EMA.
The MACD and the signal line are trading in a bullish trajectory in a bullish crossover. The histograms formed on the indicator are further bullish, indicating strong buying in the crypto.
The RSI has also advanced to the overbought levels and has broken above the 14-day SMA. This shows a strong bullish momentum in crypto, but one must also be cautious as the price of crypto is in overbought territory.
Summary
Ondo Finance (ONDO) is experiencing a strong bullish trend with consistently higher highs. Top holders control 87.43% of the supply, and the fear and greed index shows investor greed. With a market cap of $2.032 Billion, advanced technical indicators, and high liquidity, ONDO’s price is poised for further gains.
If the price of the ONDO crypto continues to advance to higher levels, it might face resistance at the round-off levels of $2.0 and $2.50. Also, the support levels on the daily crypto chart are $0.3840 and $0.610.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
