At press time, ONDO was trading at $1.09, up 8% over the past 24 hours, within a seven-day range of $0.8974–$1.13. The token has gained 19% in the past week and 4% over the last 30 days, though it remains about 50% below its all-time high of $2.14, set in December 2024.
Trading activity surged alongside the price movement. Ondo’s 24-hour volume reached $485.39 million, marking an 85.5% increase from the previous day. Derivatives also saw significant inflows: open interest rose 14% to $585.74 million, while ONDO futures volume jumped 67% to $1.38 billion, according to Coinglass data. Rising derivatives volume signals increased speculative activity, and higher open interest often points to larger price swings ahead.
RWA Market Boom Boosts Ondo
Ondo’s rally coincided with a broader surge in tokenized assets. The market capitalization of RWA tokens climbed from roughly $67 billion to nearly $76 billion over the past week, reaching a new high. On-chain tokenized assets also surpassed $29 billion for the first time, according to RWA.xyz.
Ondo has been at the forefront of this momentum. On September 9, Trust Wallet launched tokenized U.S. stocks and ETFs in collaboration with Ondo, allowing global users to trade stocks such as Apple and Tesla on-chain without brokers, via the decentralized exchange aggregator 1inch.
The protocol’s total value locked (TVL) has also grown significantly this year, rising from $650 million in January to $1.56 billion as of September 12, according to DefiLlama.
Technical Outlook
ONDO/USDT’s daily chart shows the token testing the upper Bollinger Band near $1.13, supported by increasing volume. The relative strength index (RSI) sits at 66, indicating building momentum while remaining below overbought levels.
Most moving averages, from the 200-day SMA to the 10-day EMA, are aligned bullishly, providing a supportive backdrop for ONDO.
The MACD indicates a buy signal, though momentum has slowed, hinting at possible short-term consolidation. A decisive break above the $1.13 resistance could pave the way toward $1.20 and higher, while a failure to maintain support above $1.00 may trigger a pullback toward $0.95, where the moving averages and the middle Bollinger Band offer key support.
