Institutions Betting Big: $12.2 Million ONDO Deposited in Coinbase Prime

Institutional investors are showing growing confidence in Ondo Finance, as evidenced by a recent $12.2 million deposit of ONDO tokens into Coinbase Prime. This substantial movement underscores the increasing demand for ONDO, a cryptocurrency gaining traction in the rapidly expanding Real World Assets (RWA) sector.

A Significant Institutional Move

According to blockchain analytics platform Spot On Chain, wallets linked to Ondo Finance transferred 13.83 million ONDO tokens to Coinbase Prime. These wallets had previously received 49.41 million ONDO ($35.4 million) each from Ondo Finance’s multi-signature wallet on September 24, 2024, when the token was valued at $0.717 per unit.

The total amount of ONDO deposited into Coinbase Prime now stands at 69.17 million tokens, valued at approximately $74.9 million, with an average purchase price of $1.083 per token. Meanwhile, seven wallets continue to hold a combined 276.7 million ONDO, worth around $244 million, with each wallet containing approximately 39.53 million ONDO ($34.8 million).

Such large-scale movements by institutional investors suggest a strong belief in Ondo Finance’s long-term value proposition, particularly as interest in tokenized real-world assets continues to grow.

ONDO Breaks Key Resistance, Fueling Bullish Momentum

A Technical Breakout and Strong Buying Pressure

In parallel with institutional accumulation, ONDO has successfully broken through a key resistance level of $0.92, signaling a significant shift in market dynamics. The breakout is characterized by higher lows, a classic indicator of increasing buying pressure and investor confidence.

Before the surge, ONDO experienced an extended accumulation phase, during which the token repeatedly tested its ascending trendline. This phase suggested strong underlying demand, laying the groundwork for the breakout that followed.

Turning Resistance into Support

With ONDO now trading above $0.92, this level has transitioned from a major resistance to a critical support zone. The breakout was accompanied by a surge in trading volume, reinforcing institutional and retail investor confidence. The absence of significant retracements further supports the bullish outlook, indicating that ONDO may continue its upward trajectory in the near term.

Why Institutions Are Betting on ONDO: The RWA Connection

ONDO’s increasing institutional adoption is closely tied to the rapid growth of the Real World Assets (RWA) sector, a segment within the cryptocurrency industry that focuses on tokenizing tangible assets such as real estate, bonds, and commodities.

Ondo Finance has emerged as a leading force in the RWA movement, leveraging blockchain technology to bridge traditional finance with decentralized finance (DeFi). The project has secured notable partnerships, including with BlackRock, the world’s largest asset manager, further enhancing its credibility and market potential.

Trump’s Crypto Portfolio and ONDO’s Rising Reputation

Adding to the growing momentum, ONDO’s inclusion in Donald Trump’s crypto portfolio has drawn further attention from institutional investors. The move highlights ONDO’s increasing visibility within high-profile investment circles, reinforcing its potential as a key player in the evolving digital asset landscape.

Future Prospects: Can ONDO Sustain Its Momentum?

Several factors will determine whether ONDO can maintain its bullish trajectory and continue its ascent in 2025:

• Support and Resistance Levels: With $0.92 now acting as a firm support zone, ONDO must sustain this level to establish a solid foundation for further gains.
• Institutional Confidence: Continued accumulation by institutional investors could drive long-term demand and stabilize price movements.
• Market Sentiment and Adoption: As the RWA sector grows, ONDO’s adoption could expand further, attracting new investors and partners into its ecosystem.

Conclusion: Is ONDO a Solid Bet for 2025?

With strong institutional backing, strategic industry partnerships, and a pivotal role in the RWA market, ONDO appears well-positioned for continued growth. If bullish momentum persists, the token could break additional resistance levels, potentially entering new all-time high territory.

As the crypto landscape evolves, ONDO’s trajectory will depend on both macro-market trends and its ability to capitalize on the expanding RWA narrative. Investors will be closely watching whether ONDO can sustain its bullish momentum and solidify its place as a leading asset in the tokenized economy.

Stay updated with the latest cryptocurrency developments and market insights at BitcoinTan.com. Don’t miss out on key trends and investment opportunities!

 

Source: BitcoinTan.com

Writer @Barland

Barland is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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