Ondo Finance’s native cryptocurrency is experiencing a trading volume boost this week, with Friday seeing over $440.31M worth moved. The asset is down over 50% from its all-time high of $2.14 last December. Fortunately, investors don’t seem phased, still swooping up the cryptocurrency amid a larger dip. Could ONDO reclaim its all-time high and boom further by as much as 110%?
Despite its latest drop in price, the ONDO community seemed to be quite optimistic about a potential uptick. According to CoinMarketCap’s community sentiment data, about 87% of the market is bullish about the coin’s rise in the near future. Meanwhile, about 13% of them were not confident about the asset’s ascent. A key factor supporting a potential recovery is the continued growth of Ondo Finance’s ecosystem.
According to DeFi Llama, the total value locked in Ondo’s ecosystem has surpassed $1 billion for the first time. This marks a significant increase from $541 million at the start of the year. This growth is driven by its two tokenized assets: Ondo Short-Term US Treasuries Fund (OUSG) and Ondo US Dollar Yield Token (USDY). USDY currently holds over $589 million, while OUSG has $419 million in assets.
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Furthermore, Ondo’s price could also be influenced by investments from Donald Trump’s World Liberty Financial. WLFI now holds 342,000 of the tokens, valued at over $400,000. Ondo Finance was one of the top donors to Trump’s inauguration committee, which has fueled speculation that the project may be considered for inclusion in the U.S. strategic crypto reserves.
According to data from CoinCodex, Ondo Finance’s native cryptocurrency is expected to trade at a maximum price of $ 3.49 during the month of March. This marks an over 247% uptick from its current price level. In addition, the average trading price of the asset for this month remains at $2.08. Later this month, Ondo appears likely to establish a new all-time high, and lead the way for gains during altcoin season.
