ONDO’s Trading Volume Surges 300%, Outpaces Other DeFi Tokens

• ONDO trading volume surged over 300% in May, signaling high demand.
• ONDO led trading volume, surpassing other cryptocurrencies.
• Ondo Finance expands with USDY stablecoin integrating with Mantle.

ONDO’s trading volume surged by over 300% in May, signaling heightened on-chain activity and sustained market interest, according to data from IntoTheBlock.

ONDO’s transaction volume fluctuated with a generally upward trend, indicating a spike in trading volume and user engagement.

The on-chain transaction volume of $ONDO is up over 300% since May, indicating significant on-chain activity. pic.twitter.com/szxl6lfdkc

— IntoTheBlock (@intotheblock) June 13, 2024

ONDO consistently maintained the highest transaction volume throughout the period, compared to cryptocurrencies like Maker, Pax Gold, Maple, and Goldfinch, which had significantly lower and more stable volumes.

Key observations include ONDO’s high volatility, with sudden spikes and drops suggesting periods of intense trading activity, likely driven by market events or news. For instance, ONDO surged nearly 20% following the approval of Ethereum spot ETFs, pushing it to an all-time high of $1.16. On May…

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