The Ondo token has shown significant growth in recent days, reaching new levels amid increased interest in tokenized assets.
Ondo's Price and Recent Increase
On September 12, the price of the Ondo token rose to $1.09, marking an 8% increase in just 24 hours. This movement occurred alongside increased trading volumes and growing interest in tokenized assets.
Tokenized Assets Market
The recent price surge of Ondo is also reflected in the overall growth of the tokenized real-world assets (RWA) market. The market capitalization of RWA tokens surpassed $76 billion, while the total value of on-chain tokenized assets reached a record $29 billion. Tokens like Apple and Tesla stocks, which were integrated through Trust Wallet, have further increased interest in the Ondo platform.
Technical Indicators and Forecasts
From a technical perspective, the price of Ondo is approaching a resistance level of $1.13. The relative strength index (RSI) stands at 66, indicating strong momentum without signs of overbought conditions. If the price fails to break through the $1.13 level, there is a chance for a retreat to $0.95.
The rise in Ondo's price and the growth of the tokenized assets market indicate a growing interest in decentralized financial products, and technical indicators suggest possible further upward movement.
