All Hail ONDO, RWA King! Top Trader Predicts $2.35 Price Target

The post All Hail ONDO, RWA King! Top Trader Predicts $2.35 Price Target appeared first on Coinpedia Fintech News

The crypto world erupted in excitement after the Securities and Exchange Commission (SEC) gave the green light to eight Ethereum spot exchange-traded funds (ETFs). Among the big winners was ONDO, a pioneering player in Real World Assets (RWA) crypto. Before the SEC’s announcement, ONDO was valued at $0.92, but within just 24 hours, it surged to $1.22, marking an impressive 13.26% increase.

Here’s more on this.

ONDO’s Rise

Renowned crypto expert Sjuul shone a spotlight on ONDO, branding it as the leading champion of Real World Assets (RWA). With his keen insights, Sjuul positioned ONDO as a standout performer in the ever-evolving crypto market.

$ONDO has been showing incredible strength and has become the king of the RWA narrative.

If you are a holder and want to have an objective plan for your take-profit strategy, use the Fibonacci levels in my chart.

As long as we stay in price discovery, those should be targets. pic.twitter.com/pZdg3Yzv0T

— Sjuul | AltCryptoGems (@AltCryptoGems) May 25, 2024

Sjuul didn’t stop there. He urged ONDO investors to consider using Fibonacci levels in their trading strategies. These levels, detailed in his chart analysis, provide a clear roadmap for setting profit targets amidst ONDO’s upward momentum.

Setting Targets

While emphasizing the need for a solid support level, Sjuul set ambitious price targets for ONDO at $1.35, $1.85, and $2.35. He believes ONDO has the potential to reach these milestones as long as it maintains its current trajectory.

In a strategic move, Ondo Finance integrated its assets into BlackRock’s BUIDL tokenization fund on Ethereum, strengthening its ties to the crypto giant’s ecosystem. This move explains ONDO’s surge in value following the Ethereum ETF news.

Numbers Don’t Lie

Following the SEC’s approval of Ethereum ETFs, ONDO’s value jumped to $1.20, marking a significant 14% increase. A report from DeFiLlama highlights ONDO’s Total Value Locked (TVL) soaring to $458.42 million, indicating a promising long-term outlook. Projections suggest the TVL could surpass $1 billion within months, driving ONDO’s value to $2 or even $4.

Yesterday night when the news broke out about the Eth approval and I tweeted that I am doing absolutely nothing with that info based on the chart looking like only idiots trading it, which aged well.

But I did notice $Ondo being an outlier beneficiary. But I thought, still… pic.twitter.com/OQnt3ip1eG

— Sp3y3Der ▚▘▚▘▚▘ (@sp3y3der) May 24, 2024

Additionally, data from Santiment shows ONDO’s trading volume hitting a monthly high of $449.50 million, signaling a notable increase in investor interest.

The future of RWA crypto is bright, and ONDO is leading the charge. Are you excited?