ONDO, the native token of Ondo Finance, experienced a significant price surge in July. The cryptocurrency has gone up by more than 60% since the start of the month, rising from $0.6942 to a high of $1.169 on July 21. This rally was fueled by strong investor interest, significant institutional partnerships, and a new Exchange Traded Fund (ETF) filing by 21Shares, a global investment company. ONDO ETF Filing Increases Market Interest The price of ONDO jumped higher after 21Shares filed with U.S. regulators to create a spot ETF for the token. This kind of ETF would make it easier for more people, including large investors, to invest in ONDO. At the time of writing, ONDO’s price has dropped by 3.31% and is now trading at $1.02, according to CoinMarketCap data. This drop brought the token’s market value down from $3.7 billion to $3.2 billion. Still, trading activity remains strong, indicating that many investors remain interested. Over the last 24 hours, more than $448 million worth of ONDO has been traded. This high volume shows that the token is still attracting attention, even after the recent price drop. The ETF filing could lead to more demand from institutions. Market Charts Show Possible Uptrend Even with the recent price drop, ONDO’s price chart still looks strong . The price has moved above key moving averages (EMAs), indicating continued upward momentum. Experts say ONDO is in a double accumulation phase. This means buyers are slowly building positions. If this trend continues, ONDO could rise above $2. Financial analyst Kren believes the long-term price could go even higher. He states that the U.S. Treasury market is valued at approximately $27 trillion. If ONDO captures just 0.1% of that, its price could reach $6.75. Right now, ONDO faces resistance at $1.1732, which was the high point in July. However, if it holds support above a specific resistance level, the price may rise again. If it fails, the price may drop to the $0.80–$0.90 range. Ondo Finance Builds Strong Partnerships Ondo Finance is a layer-1 proof-of-stake blockchain explicitly created for institutions. Its goal is to make real-world assets (RWAs) easily tradable on-chain . Over the past few months, Ondo has built a robust network of institutional partners. In February, the company announced partnerships with industry giants. This includes Franklin Templeton, Google Cloud, WisdomTree, McKinsey, BlackRock, PayPal, and Morgan Stanley. These firms helped launch the Ondo Finance Chain, a dedicated protocol for tokenizing real-world assets. Just last week, Ondo partnered with Binance’s BNB Chain to bring tokenized 100 U.S. stocks and ETFs onto its blockchain. This move could bridge the gap between traditional finance and decentralized finance (DeFi). Earlier this year, Ondo also joined Mastercard’s Multi-Token Network. This helps the company grow its reach in the space of tokenized real-world assets . The post ONDO Token Rallies Amid Partnerships and ETF Hopes appeared first on TheCoinrise.com .
