Ondo Finance may have just propelled itself to the top position in the race for real world assets (RWAs), raising optimism around ONDO crypto.
This has been one of the top narratives in the crypto market in the latest bullish season.
Ondo Finance has taken point in RWAs courtesy of its newly launched platform dubbed Ondo Global Markets.
The latter is reportedly aimed at making U.S securities accessible on blockchain.
The development will allow investors outside the U.S to gain exposure to the highly coveted U.S securities. This includes stocks, ETFs and bonds.
It is worth noting that this is not the first time that traditional assets have been brought on-chain through tokenization.
Synthetix was the first blockchain to achieve this but it did not achieve much success.
Ondo Finance is attempting something similar at a time when the regulatory situation in the crypto market is improving.
This alone may boost its chances of success compared to its predecessors. In addition, Ondo plans to implement low gas fees to make the new platform more appealing.
Can Ondo Global Markets achieve robust utility for ONDO crypto?
Cracking into RWAs the right way could be the holy grail of utility. Especially for traditional markets such as the U.S stock markets which are very restrictive to foreigners.
A more favorable regulatory environment could potentially allow Ondo Finance to achieve success through its new platform.
A global reach may allow it to top into robust user growth figures depending on the level of adoption.
If Ondo Finance manages to reach critical mass as far as adoption is concerned, then demand for its native token ONDO crypto could go parabolic.
The protocol has already been experiencing impressive growth both in terms of liquidity and total value locked.
Its TVL clocked in at $652.93 million at the time of observation. For context, it was up by roughly $111.4 million in the last 3 weeks.
Similarly, its liquidity has improved considerably by roughly $3.5 million since mid-January.
While this may not seem like much, it is worth noting that the recently launched Ondo GM product has the potential to fuel more growth.
What Does it Mean For ONDO Crypto Price Action?
ONDO crypto price action has been trading within the same pattern as most other coins in the crypto market.
This includes its pullback from December peak at $2.14 all the way to its recent dip which bottomed out at $0.90 on Monday.
ONDO crypto has since recovered slightly to its $1.30 press time price tag. However, there is one major observation which may indicate what’s to come.
Its price chart reveals a bullish divergence between price and the RSI indicator.
Its latest price low earlier this week was accompanied by a higher RSI low compared to its dip on 13 January.
The bullish divergence combined with the latest push into real-world assets could potentially boost investor confidence in the coming days.
In other words, ONDO crypto looks prime for a sizable bullish comeback.
The post Ondo Crypto Makes Headway In RWA Segment, Here’s How appeared first on The Coin Republic.
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