Ondo Finance Surges as Major Investments and Whale Activity Ignite Market Confidence

Ondo is focused on creating the next generation of financial infrastructure to enhance market efficiency, transparency, and accessibility.

Flux is a decentralized lending protocol designed to honor transfer restrictions from permissioned tokens, allowing for a broader range of supported assets.

Major Investment Boosts Token Price

Ondo Finance (ONDO) experienced a significant rise in its token price after World Liberty Financial (WLFI) invested $250,000 to purchase about 134,216 ONDO tokens at an average price of $1.83. This investment spurred an over 11% increase in the token's price, reaching approximately $2.08. It also caused ONDO's trading volume to jump by more than 73%, highlighting strong market interest. WLFI is looking to invest nearly $45 million in various cryptocurrencies and aims to build a decentralized money market for borrowing and lending, boosting confidence in Ondo Finance.

Whale Activity Indicates Growing Confidence

Last week, there was substantial activity from big investors, or "whales," in Ondo Finance (ONDO), particularly on December 10, 2024. One whale bought 10.978 million ONDO tokens for about $17.1 million at around $1.553 per token during a market dip, creating excitement about ONDO’s future growth. Another whale also acquired roughly 1.085 million tokens for about $1.83 million, further indicating that large investors are gaining confidence as the token approaches significant price levels.

ONDOUSD Market Movement

The ONDOUSD trading pair recently hit a new all-time high after a period of minor consolidation. A daily close above $2.25 would confirm further bullishness.

Recent Performance Overview

In the past week, ONDOUSD gained more than 60%. The pair remains well above short-term moving averages (34 and 55 EMA) but below the long-term moving average (200 EMA) on the 4-hour chart. It hit a high of $1.95 and is currently trading around $1.63. A bullish invalidation could occur if the pair closes below $0.50, with near-term support at $1.25. Breaks below this level could target $1.00, $0.60, and $0.50.

Resistance and Trading Strategy

Immediate resistance is around $2.25; breaking this could signal bullish continuation, potentially leading to jumps to $2.40 and $3. A surge past $3 might take it as high as $4. A suggested trading strategy is to buy on dips around $1.50, with a stop-loss at $1 and a target price of $3.