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Key Insights:
- Ondo price surges after the ETF filing and Binance US listing.
- Institutional interest rises as Ondo gains major financial partnerships.
- Technicals show a bullish trend, with a potential retest of $1.50 ahead.
Ondo price has surged significantly over the past 24 hours, climbing above the $1.10 mark. This notable rally comes in the wake of major developments, including a new ETF filing by 21Shares and a listing on Binance US.
Ondo Price Surges as 21Shares Files Spot ONDO ETF
Asset management firm 21Shares has officially submitted a Form S-1 registration to the US Securities and Exchange Commission (SEC) for the creation of the 21Shares Ondo Trust.
This proposed exchange-traded fund (ETF) aims to track ONDO’s price using the CME CF Ondo Finance-Dollar Reference Rate. Coinbase Custody will serve as the official custodian of the fund.
This ETF will not engage in leverage or derivatives but will instead function as a passive investment vehicle. It aims to offer institutional and retail investors exposure to ONDO price movements through regulated platforms.
The ETF filing is a strong indicator of growing institutional interest in real-world asset (RWA) tokens. Ondo Finance’s core mission is to bring traditional financial assets like US Treasuries and credit instruments on-chain.
This move also follows Ondo Finance’s acquisition of Oasis Pro, a registered broker-dealer, signaling a broader strategy to support tokenized securities. Additionally, the RWA market continues to expand rapidly. Its total value is nearing $25 billion, mostly on the Ethereum blockchain.
Ondo Price Supported by Binance US listing
Another positive aspect that drove ONDO price ahead is its new listing on Binance US, a major crypto exchange in the US. Binance US announced the opening of ONDO deposits on the Ethereum blockchain, where trading against USDT started today, July 23.
This listing enhances the accessibility of ONDO to the US retail in a tremendous manner. Listings in big exchanges have been significant drivers of token adoption and price action.
Institutional interest in ONDO is growing rapidly. Recently, MasterCard has chosen Ondo Finance as its initial RWA partner. In the meantime, on the Ondo blockchain, Ripple released its OUSG product on XRPL.
The recent events make ONDO a serious contender in the tokenized finance environment. Its current market cap is about $3.5 billion, and it has the support of renowned financial institutions.
As the legacy assets partner with blockchain technology, Ondo Finance remains at the forefront of introducing traditional finance companies to the RWA market.
Will ONDO Price Rally to $1.5 This Week?
ONDO price traded at $1.10 at press time with a strong surge of 5% as the momentum seen in recent sessions. The asset recently climbed within a tight ascending channel, signaling strong bullish behavior over the past two weeks.
Earlier, ONDO has surged through the important psychological figure of $1.00, which served to be a good support point in the rally. The price rallied further and it reached the resistance of $1.20, but it filtered a little.
Technical indicators were quite bullish. The RSI (Relative Strength Index) rose above 70, reaching the maximum value of 71.75. That RSI value showed the overbought conditions and often results in a short-term pullback or tightening.
The MACD (Moving Average Convergence Divergence) had also displayed bullish power where the MACD line was above the signal line and diverging. It suggested buyers maintained control, but momentum might cool down if the current structure breaks.
If ONDO price holds above the $1.00 level, bulls could attempt another retest of $1.20. A clean breakout above $1.20 may lead ONDO toward the next resistance zone at $1.50. However, failure to maintain $1.00 might drag the price down toward the $0.90 level for support retesting.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
