ONDO Surges 60% Amid 21Shares ETF Filing, Then Retreats 10.44%

ONDO, the native token of Ondo Finance, has surged 60% over the past month, rising from $0.6942 in early July to a peak of $1.169 on July 21. This rally has intensified speculation about the token’s future trajectory, particularly following 21Shares’ recent filing for a spot ETF focused on ONDO. However, the token has since corrected, dropping 10.44% to $1.025 as of the latest session, with its market capitalization falling from $3.7 billion to $3.2 billion despite a 24-hour trading volume of $448 million. Market participants remain cautiously optimistic, citing the ETF filing as a potential catalyst for institutional adoption [1].

Ondo Finance positions itself as a layer-1 proof-of-stake blockchain tailored for institutional finance and real-world asset (RWA) tokenization. The platform has secured high-profile partnerships with entities such as BlackRock, Franklin Templeton, JPMorgan’s Kinexys, and BNB Chain, which aim to integrate tokenized U.S. Treasuries, ETFs, and other assets into its ecosystem. These collaborations, including a recent integration with BNB Chain to bridge Wall Street with decentralized infrastructure, underscore Ondo’s focus on bridging traditional and digital finance [2].

Analysts have highlighted technical indicators suggesting ONDO’s potential for further gains. The token recently broke through key moving averages (EMAs 20, 50, 100, and 200) after its July rally, forming a bullish trend. However, a 9% pullback in recent trading sessions has tested critical support levels near the EMA 20 ($0.9557) and EMA 50 ($0.9379). If these levels hold, the price could consolidate before targeting a breakout above $1.6117, the next major resistance. A failure to maintain support below these EMAs could push the token back into the $0.80–$0.90 range [3].

The recent price action has drawn comparisons to XRP’s performance, particularly as both tokens have garnered support from traditional finance institutions. Chart analyst “Crypto Targets” notes that ONDO is in a “double accumulation phase” with bullish RSI divergence and a breakout structure aligned with a projected $4 price target. Meanwhile, financial educator Kren argues that the U.S. Treasury market’s $27 trillion valuation could provide a long-term foundation for ONDO, estimating that capturing just 0.1% of this market could theoretically justify a $6.75 price per token [4].

While the ETF filing by 21Shares is seen as a critical development for institutional demand, market participants remain split on whether the token can reach $2. The current correction has been interpreted as a buying opportunity, with some analysts emphasizing the token’s structural support and others cautioning about volatility amid broader market dynamics.

Source:

[1] [ONDO up 60% in a Month – Can 21Shares ETF Filing trigger $2 Next?](https://cryptonews.com/news/ondo-up-60-in-a-month-can-21shares-etf-filing-trigger-2-next/)

[2] [ONDO up 60% in a Month – Can 21Shares ETF Filing trigger $2 Next?](https://cryptonews.com/news/ondo-up-60-in-a-month-can-21shares-etf-filing-trigger-2-next/)

[3] [ONDO up 60% in a Month – Can 21Shares ETF Filing trigger $2 Next?](https://cryptonews.com/news/ondo-up-60-in-a-month-can-21shares-etf-filing-trigger-2-next/)

[4] [ONDO up 60% in a Month – Can 21Shares ETF Filing trigger $2 Next?](https://cryptonews.com/news/ondo-up-60-in-a-month-can-21shares-etf-filing-trigger-2-next/)