Why Did Ondo Finance (ONDO) Soar 30%? Will It Break $0.52 on BlackRock-Based New Product?

▲ Ondo (ONDO)/Source: X ©

Ondo Finance, a real-world asset (RWA) tokenization platform, surged over 30% in a single day, significantly outperforming the stagnant virtual asset market. The launch of BlackRock-based tokenized investment portfolios boosted real-world asset (RWA) expectations, with a breakthrough of key resistance levels and an altcoin rotation also contributing to the upward trend.

According to cryptocurrency market aggregator CoinMarketCap on September 25 (local time), ONDO recorded a 30.25% increase over the past 24 hours, reaching $0.534. On September 24, Ondo Finance launched three tokenized investment portfolios, 'Ondo Intelligent Portfolios,' built on model strategies provided by BlackRock. By expanding its scope beyond single-asset tokenization to portfolio-style products, it attracted the interest of institutional investors.

A technical breakout also amplified the gains. ONDO strongly broke through its major resistance level of $0.4547, turning that price point into a new support level. Trading volume surged by 257% to $912 million. The Altcoin Season Index also rose by 17.78% over the past 7 days, indicating a shift of funds towards high-beta altcoins, including RWA.

In the short term, $0.45-$0.4547 has been suggested as a key support zone. If ONDO maintains this price range, it could challenge the next resistance levels around $0.52 and $0.5207. Specifically, whether it forms a daily closing price above $0.5207 is considered a major point to confirm further upside. Maintaining a high trading volume of over $912 million is also an indicator to confirm the breakout trend.

However, the rapid increase in Open Interest and trading volume has also heightened volatility risks due to high leverage. If it falls below $0.45, this breakout could fail, leading to liquidations and a potential correction towards $0.40. Going forward, the adoption level of the newly launched tokenized portfolios and further announcements from BlackRock or Ondo are considered key variables.

*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.*