ONDO's Meteoric Rise Driven by Whale Appetite for Real-World Asset Tokens

What's Driving ONDO's Meteoric Rise?

ONDO, a token backed by real-world assets (RWAs), has been on a tear, hitting a record high of $0.9702 and breaking into the crypto top 100 by market cap. The token has surged over 100% in the past week and nearly 130% in the past month.

Whales Bulking Up on RWA Tokens

Big money is piling into RWA-related coins, including ONDO. Whale activity on exchanges, such as large withdrawals of ONDO, hints that these investors are accumulating ONDO in anticipation of further price appreciation.

RWA Sector on a Roll

The RWA sector is one of the hottest in crypto right now, with multiple projects, including ONDO, rallying. The market cap of the RWA sector has jumped over 17% in the past 24 hours, topping $6.6 billion.

ONDO: Gateway to Traditional Securities

ONDO's launch of Ondo Global Markets in February, which aims to bring publicly traded securities on-chain, has been a major catalyst for its price surge. The recent announcement of BlackRock's USD Institutional Digital Liquidity Fund further fueled the rally.

Other RWA Tokens Soaring

ONDO isn't the only RWA token attracting attention. Centrifuge, Polymesh, Pendle, and TokenFi have all seen significant gains. Polymesh has surged 87% this week, while TokenFi has jumped 160%.

RWA Market Cap Hits New Heights

The combined market cap of RWA tokens has soared by over 17% in the past 24 hours, surpassing $6.6 billion. The 24-hour trading volume in the sector exceeds $1.16 billion.

Conclusion: Whales Bet Big on RWAs

The accumulation of ONDO by whales is a clear sign of bullish sentiment in the RWA market. As the sector continues to gain traction, it will be intriguing to watch how this niche market segment evolves.