Ondo Finance, a platform dedicated to tokenizing real-world assets and backed by Pantera Capital, witnessed a surge in the value of its Ondo Finance token.
Since mid-March, ONDO’s price fluctuated between $0.97 and $0.69 but broke out on Friday. A 10% rally ended the consolidation, pushing ONDO to an initial record high of $1.05. Now in a price discovery phase, investors expect the bullish momentum to continue driving it upward. As of this writing, ONDO is currently oscillating around the ATH price of $1.15, and its TVL is $445 million.spot Ethereum exchange-traded funds .
Another major catalyst behind the ONDO price rally could be related to Coinbase’s addition of the asset to its perpetual market. According to the announcement, trading has started for ONDO-PERP, PYTH-PERP, and ZETA-PERP on the perpetual markets.