Cryptocurrency Trader Hails ONDO as the Ultimate Real-World Asset Monarch, Predicts a Future Value of $2.35

The authorization of eight Ethereum-based spot ETFs by the SEC has led to a remarkable price increase for the prominent RWA crypto project ONDO. Prior to this development, ONDO’s price was at $0.92. Within a day following the announcement, the token’s value soared by 13.26%, crossing the key $1 mark and climbing to $1.22.

Esteemed crypto analyst Sjuul took to social media to endorse ONDO as the dominant force in Real World Asset (RWA) narratives.

ONDO – Dominant in RWA Space

Acclaimed cryptocurrency expert Sjuul has sparked discussion within the digital currency sphere by offering his evaluation of ONDO’s recent performance. By emphasizing its leading role within the RWA arena, Sjuul categorizes ONDO as a key contender in the dynamic world of cryptocurrencies.

In an informative tweet, Sjuul suggests that ONDO investors should incorporate Fibonacci retracement levels in their strategic planning. The levels, as delineated in his technical analysis, provide a systematic method to define profit-taking milestones during the token’s current upward trajectory.

Furthermore, Sjuul stresses the criticality of establishing a solid base of support for ONDO, positing that the token could feasibly attain price levels of $1.35, $1.85, and $2.35, providing it maintains its present exploratory pricing phase.

The Interlink between ONDO and Ethereum

With Ondo Finance’s integration into Ethereum’s BlackRock BUIDL tokenization fund, its connection to the expansive Ethereum network stronghold has been fortified. This strategic integration is key to understanding ONDO’s responsiveness to Ethereum-related developments.

Subsequently, ONDO’s value leapt to $1.20 following the SEC’s endorsement of the Ethereum spot ETFs, signifying a 14% uplift in price.

Prospects of Tenfold Increase

Per DeFiLlama’s latest analysis, Ondo Finance’s Total Value Locked (TVL) has soared to an impressive $458.42 million, signifying strong potential for continued upward momentum. With this current trajectory, the TVL is on course to hit the $1 billion mark in the months to come, which could significantly boost ONDO’s value towards targets of $2 or possibly $4.

Moreover, according to Santiment, ONDO’s trading volume has peaked at a one-month high of $449.50 million, showcasing a pronounced increase in trading interest.