(ONDO) will break through $1
The arrival of whales has generated huge interest in the RWA token.
ONDO, the native cryptocurrency of Ondo Finance, has seen a significant price increase, rising by 150% in the last week. Now, Ondo price is eyeing a break above $1 to continue its rise further.
ONDO investor base doubles in one month
ONDO’s price experienced a significant surge last week, jumping from $0.40 to $0.90, effectively doubling its number of holders in a month.
In the first few months of 2024, ONDO observed a continued rise in investor numbers, with the number of new investors ranging from 100 to 300 daily. This gradual growth trend was particularly evident on February 26, when the number of holders reached 4,872.
By the end of March, however, the growth trajectory accelerated significantly. As of March 25, the number of ONDO holders exceeded the 10,000 mark, a substantial achievement. The surge in holders means the investor base has more than doubled in just one month. This surge correlates closely with ONDO’s massive price increase, from $0.40 on March 19 to $0.95 on March 25.
On the other hand, the ONDO MVRV ratio (Z-score) is causing concern, rising sharply from 1.39 to 3.57, indicating a possible pullback before the next leg higher. Ondo price fell 1.96% to $0.9403.
Analysts expect ONDO to likely pull back to $0.84 before initiating further gains.
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