Ondo is building the next generation of financial infrastructure to improve market efficiency, transparency, and accessibility.
USDY (US Dollar Yield Token) is a tokenized note secured by short-term US Treasuries and bank demand deposits.
- Subscriptions, whereby which create new USDY tokens
- Redemptions, whereby an investor returns Tokens to Ondo to get their money back (plus accrued yield).
- Transfers, whereby an investor sells their Tokens in the secondary market or utilizes their Tokens within DeFi.
ONDOUSD trades weak after a massive pullback
Any daily close above $1.10 confirms further bullishness.
ONDOUSD gained more than 65% in the past three days. The pair holds well above the short-term (21 and 55 EMA) and below the long-term moving average (200-EMA) in the 4-hour chart. It hit a high of $1.0300 and is currently trading around $0.8655.
The bullish invalidation can happen if the pair closes below $0.60. On the lower side, the near-term support is $0.750. Any break below targets $0.60.
The immediate resistance stands at around $1.10. Any breach above confirms bullish continuation. A jump to $1.31/$1.50/$2 is possible. A surge past $2 will take it to $3
It is good to buy on dips around $0.70 with SL around $0.50 for TP of $2.