The price of the ONDO token has increased by 10.36% over the past day, surpassing the $1.00 mark. This has coincided with the expansion of the Ondo Finance ecosystem and positive trader commentary.
Launch of USDY on Sei Network
Ondo Finance announced the launch of USDY, a tokenized U.S. Treasury product, on the Sei Network. This integration aims to provide scalable, on-chain yield for DeFi participants, utilizing Sei’s low-latency, high-throughput architecture.
Price Growth of ONDO and Its Causes
The ONDO price has cleared key resistance levels, reaching a local high of $1.0485. Analysis indicates that trading volumes have increased in recent days, which is expected to further support growth. Current support has established itself above $0.9321, with the main uptrend beginning from the cycle low of $0.6258 seen in June.
Traders' Expectations Amid Price Growth
Considering the breakout above the psychological mark of $1.00, traders are starting to speculate that the next potential level could be $3.00. However, there are currently no confirmed technical patterns that support this target. Market participants focus on maintaining initial momentum and await confirmation with a close above $1.05.
Ongoing developments surrounding ONDO and USDY tokens on Sei Network indicate growing interest in tokenized assets. It remains crucial to monitor market changes and potential breakthroughs.
