Ondo Finance, will it break $0.50? Has the RWA rally restarted?

▲ Ondo (ONDO)/Source: X ©

Ondo Finance (Ondo, ONDO) surged over 27% in a single day, once again boosting the presence of the Real World Asset (RWA) tokenization theme. This surge appears to be driven by a combination of spot buying pressure and altcoin rotation, rather than a single clear catalyst.

According to cryptocurrency market data aggregator CoinMarketCap on May 8 (local time), Ondo Finance recorded a 24-hour increase of 27.31%, reaching $0.442. This marks a significant rally compared to the broader cryptocurrency market, which largely remained flat during the same period.

The media cited strong spot buying pressure as the key factor behind this surge. Ondo Finance's 24-hour trading volume increased by 86% to $494.9 million. The turnover rate was 0.23, indicating high liquidity where large orders could be executed without significant price slippage.

CoinMarketCap analyzed that this rise suggests accumulated buying by institutions or high-net-worth investors rather than mere speculation by individual investors. As a price breakout accompanied by trading volume, it is evaluated to have a more solid technical foundation than a low-liquidity surge. However, whether the trading volume can be sustained above $300 million was presented as a variable determining the continuation of the rally.

Fund flows into altcoins and the Real World Asset tokenization sector also supported the upward trend. CoinMarketCap's Altcoin Season Index rose 2.38% to 43. As Ondo Finance is classified as a representative RWA token, the media viewed it as benefiting from renewed market interest in tokenized assets.

Key short-term observation points are the $0.40 support level and the $0.45-$0.50 resistance zone. If Ondo Finance maintains its gains above $0.40, the likelihood of an attempt to break $0.50 increases, and if it surpasses this, $0.60 is mentioned as the next target. Conversely, if it falls below $0.40, profit-taking might occur, leading to a retracement to $0.35.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*