ONDO Finance & SEI Partnership Sparks 10% Rally In 1 Hour

Key Insights:

• Ondo Finance is bringing its yield-coin, USDY, to Sei’s layer 1 blockchain as its RWA distribution by chain shifts.
• ONDO surged 9.69% in an hour following the announcement of the partnership.
• ONDO’s clean breakout from the EQH liquidity grab is where the retest and continuation are within a rising channel.

Ondo Finance (ONDO) is a prominent real-world asset sector leader. It is expected to lead the charts during the anticipated altcoin season. ONDO continues to enjoy modest daily gains.

As the RWA sectors boom, so does ONDO. However, more is following Ondo Finance. What more for ONDO?

ONDO Partners with Sei Blockchain

The RWA heavyweight announced on X that they are partnering with Layer 1 blockchain, bringing their yield-coin, USDY. It has a total value locked (TVL) of $680 Million on Sei. In a bold statement, Ondo Finance wrote;

ONDO appreciated the on-chain speed of Sei. This is why it provides more users due to the diversification of participants.

Ondo would enjoy the volume of Sei, which was pumping hard again. ONDO was poised to profit from the launch of its native USDC. The move boosted TVL and attracted growing institutional interest.

New Distribution and Volume

The value distribution will undoubtedly change as the RWA crypto launches on another blockchain. At the time of writing, Ethereum (ETH) was the in the lead with $1.08 Billion.

This means it controlled 76.52% of the market share. Solana (SOL), XRP Ledger (XRP), and Mantle chains followed with $248.8 Million, $30 Million, and $27 Million, respectively. This left Solana with a share of 18.26%.

Meanwhile, this development could boost its transfer volume, which has been dwindling in the previous months since April. The highest volume for OUSG and USDY in the past year was July 2024. At that time, the transfer volume hit over $800 Million.

Active addresses were also very low, with the highest in October 2024. However, the total holders were at their ATH of 15,525, with USDY outperforming OUSG with 15,452 against 73.

Meanwhile, the volume of SEI also surged. This could boost the volume traded on the ONDO Finance token.

ONDO Price Surges Close to 10% In An Hour

This announcement resulted in a massive rally that occurred during the hour of the news. ONDO rose by 10% reclaiming the $1.042 with the candles showing bullish momentum.

As the token outperforms its competitors in the space of RWA, it suggests that price could surpass its current heights. That said, it raises the question: Will ONDO continue rising?

How High Can the ONDO Price Rise?

Looking at the price chart, ONDO broke above the equal highs (EQH) at $0.80. This happened after a lengthy period of consolidation from June 25th to July 8th. The price action rose significantly, by about 22.42%, and it started to show exhaustion.

As the price action traded just below the $1, ONDO started to form an ascending trend channel. This rising wedge pattern was where ONDO broke back to $1 and was still doing its retest there.

Meanwhile, ONDO could find support if it breaks from the rising wedge. Key levels to watch are $0.94, $0.92, $0.90, and eventually $0.80.

Potential targets could cost $1.5 and $2 or higher. This would also hedge on volume, create more partnerships to improve liquidity, and enhance institutional engagement. These are key for most cryptos.

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.