Ondo (ONDO) price broke its all-time high (ATH) of $1.05 on March 31, as the US Securities and Exchange Commission (SEC) approved Ethereum’s spot Ethereum Exchange Traded Fund (ETF) applications on Thursday.
Ondo price broke ATH of $1.05 and rallied 10% in the early Asian session. Due to Ethereum ETF approval, the RWA narrative has come into the spotlight, with
, the Real World Asset sector seems to have taken center stage. Ondo price rally makes RWA relevant again The US fund manager Blackrock’s entry into the crypto world with its Bitcoin spot ETF application in June 2023 catalyzed the ongoing bull run. Shortly thereafter, the American financial giant made its foray into the tokenized sectorin March 2024, which kickstarted the RWA narrative, propelling tokens like Ondo, Dusk , Centrifuge and so on.
chart Ondo price shows promise Since mid-March, the Ondo price has ranged between $0.97 and $0.69 but saw a breakout in the early Asian session on Friday.The 10% rally that led to the end of the consolidation pushed -day chart Supporting this bullish thesis is IntoTheBlock’s TotalWith Balance metric. This index tracks the number of addresses with balance and is used to gauge the investor interest in the project. A spike in this on-chain indicator signals a robust and growing user base. As we can see from the graph in Ondo's case, the total number of addresses with a balance grew from 35,180 to 41,300 in the past month. This 17.
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