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    Home»Crypto News»ONDO Hits New All-Time Excessive Following Buy by Trump’s Crypto Challenge
    ONDO Hits New All-Time Excessive Following Buy by Trump’s Crypto Challenge
    Crypto News

    ONDO Hits New All-Time Excessive Following Buy by Trump’s Crypto Challenge

    By Crypto EditorDecember 16, 2024Updated:December 16, 2024No Comments3 Mins Read
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    Actual-world asset (RWA) token ONDO soared to a brand new all-time excessive of $2.14 throughout Monday’s early Asian session. The rally adopted the information that Donald Trump’s crypto challenge, World Liberty Monetary, bought 134,216 ONDO tokens for 250,000 USDC.

    With a strengthening bullish bias, the ONDO token worth is poised to increase its positive aspects within the quick time period. This evaluation particulars why. 

    Ondo Touches New Highs, Due to Donald Trump

    In response to on-chain analytics platform Arkham Intelligence, Donald Trump’s crypto challenge, World Liberty Monetary, spent 250,000 USDC to accumulate 134,216 ONDO tokens by way of Cow Protocol in the course of the early Asian hours on Monday.

    The tokens have been bought at a mean worth of $1.83, triggering a short-term surge in ONDO’s worth following the sizable acquisition. It drove the RWA-based token to an all-time excessive of $2.14 earlier than it witnessed a slight correction.

    Regardless of this pullback, ONDO remains to be up 17% up to now 24 hours and ranks because the market’s prime gainer. This worth surge is accompanied by a corresponding uptick in ONDO’s day by day buying and selling quantity, which has rocketed by over 120% in the course of the interval in evaluation. 

    ONDO Price and Trading Volume.
    ONDO Worth and Buying and selling Quantity. Supply: Santiment

    When a surge in buying and selling quantity accompanies an asset’s worth rally, it signifies sturdy market curiosity and participation. It means that the value improve is backed by precise demand for the asset and never pushed by mere hypothesis. This mixture hints on the potential for sustained upward momentum as extra merchants are actively shopping for the asset.

    ONDO’s rising On-Stability Quantity (OBV) confirms this accumulation pattern. As of this writing, it sits at a seven-month excessive of 1.74 billion, growing by 3% over the previous 24 hours. 

    ONDO OBV
    ONDO OBV. Supply: TradingView

    The OBV indicator tracks an asset’s cumulative quantity. It provides quantity on up days and subtracts it on down days to measure shopping for and promoting strain. When the OBV climbs throughout a worth rally, it signifies that the value improve is supported by sturdy shopping for curiosity, suggesting that the upward pattern could also be sustainable.

    ONDO Worth Prediction: There Is Room For Extra Development

    On a day by day chart, ONDO trades at $2.05, barely beneath its all-time excessive of $2.14, which has shaped a resistance stage. A profitable break above this resistance will propel ONDO’s worth to new peaks.

    ONDO Price Analysis.
    ONDO Worth Evaluation. Supply: TradingView

    Nonetheless, if profit-taking exercise resurfaces, this bullish projection will likely be invalidated. On this state of affairs, the ONDO token worth will shed its current positive aspects and plummet towards $1.79, its subsequent main help stage. 

    Disclaimer

    In keeping with the Belief Challenge tips, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to vary with out discover. At all times conduct your individual analysis and seek the advice of with knowledgeable earlier than making any monetary choices. Please word that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.



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