Will Ondo Finance 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 raising the profile of the Real-World Asset (RWA) tokenization theme. This price increase appears to be driven by a combination of strong spot buying and altcoin rotation rather than a clear single catalyst.

According to CoinMarketCap, a cryptocurrency market data aggregator, on May 8 (local time), Ondo Finance recorded a 27.31% increase over 24 hours, reaching $0.442. This represents a significant bullish trend compared to the overall cryptocurrency market, which largely remained flat during the same period.

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

CoinMarketCap analyzed that this rise suggests the possibility of cumulative buying by institutional or high-net-worth investors rather than mere speculation by individual investors. As a price breakout accompanied by trading volume, it is considered 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 that will determine the continuation of the rally.

The movement of funds into the altcoin and real-world asset tokenization sectors also supported the upward trend. CoinMarketCap's Altcoin Season Index rose by 2.38% to 43. The media outlet viewed Ondo Finance as benefiting from the renewed market interest in tokenized assets, as it is classified as a representative RWA token.

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 attempting 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 sales may emerge, potentially 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.*