Ondo [ONDO] has emerged as the frontrunner in the Real World Asset (RWA) sphere, exhibiting transaction volumes that outpace its rivals by a considerable margin.
During its peak in January 2025, ONDO soared to nearly $500 million, a substantial increase compared to MKR, its closest competitor, which recorded a peak volume of just under $50 million during the same period.
Tokens like PAXG, GFI, and DAKS saw much lower levels of activity, generally staying below the $25 million mark throughout the period.
The Total Value Locked (TVL) of ONDO has seen a significant rise, indicating strong investor trust and supremacy in the market. The substantial disparity in volumes underscores the coin’s exceptional market position and potentially its higher utility or adoption in the sector.
In contrast, tokens like XAUT, BUIDL, and BKN exhibited minimal transaction volumes, barely surpassing the $5 million threshold.
This underscores ONDO’s exceptional performance in a market environment that has been relatively slow. This data hints that the coin is not only leading but also possibly expanding its presence in the RWA market.
What Impact Will Binance’s Acquisition Have on ONDO?
Binance’s notable accumulation indicates potential factors that could influence ONDO’s future trajectory. Recent transactions show Binance strategically increasing its stakes, including the acquisition of 36.03K ONDO for $44.32K.
Such buying behavior by a prominent exchange typically reflects strong confidence in the asset’s future performance, potentially stabilizing prices or initiating an upward trend.
Currently, ONDO is trading at $1.23, slightly above the $1.14 level, which aligns with the 200 EMA support level.
If this level holds, it could serve as a platform for an upward move. Nonetheless, a breach below this point might lead to price declines.
Prior resistance around $2.15, if revisited after a bullish reversal, could establish new price targets for ONDO around $2.00.
On the other hand, failing to sustain the current support level could result in prices retracing towards the following significant support below $1.00 due to potential selling pressure.
Activities like Binance’s acquisitions often garner attention, potentially attracting substantial investments both from institutional players and retail traders, which could drive up demand and consequently prices.
Conversely, if market sentiment does not improve, heightened supply could exert downward pressure on prices. Monitoring these developments closely is crucial.