Ondo price continues to rise in the face of struggling altcoins. The RWA narrative kickstarted by Blackrock is one of the reasons for this rally.
’s ascent is Blackrock, a multi-billion dollar US-based investment company. Blackrock was responsible for kickstarting the Bitcoin bull run after it filed its spot ETF application in mid-June. The so-called Blackrock effect spilled over to the Real-World Asset category when the investment firm announced an Ethereum-based tokenized fund on March 20. Interestingly, the people's favorite, Ondo price, formed a bottom on March 20 and kickstarted its 172% rally to ATHs.
bulls plan a breakout /USDT 12-hour chart According to Santiment data, the 7-day Market Value to Realized Value ratio hovers close to the zero line. However, the 30-day MVRV is hovering at -9.39%, indicating that the average loss of investors who purchased at an average price of $0.875. Overcoming this key cluster of underwater investors could allow the Ondo price to ascend smoothly. On the other hand, nearly 1,900 addresses purchased 301 million