Will Ondo Price Hit $1 After BlackRock Collaboration and $OUSG Proposal?

Ondo (ONDO) price has recently climbed by 20% over the last week, fueled by a positive market trend. Despite the recent gains, the price has experienced notable fluctuations in the last few hours. This increase coincides with Ondo’s new partnership with BlackRock and the introduction of the $OUSG proposal.

Ondo Price Eyes 33% Growth After Partnership Announcement

Ondo Finance has teamed up with BlackRock and Securitize to submit the $OUSG proposal to Sky Ecosystem’s Spark Tokenization Grand Prix. This initiative aims to onboard $1 billion in tokenized financial assets.

Carlos Domingo, Co-Founder and CEO of Securitize, emphasized the collaboration’s potential to merge web3 capabilities with traditional asset management, enhancing exposure to real-world assets.

Ondo Finance is proud to collaborate with @BlackRock and @Securitize to have submitted the $OUSG proposal to @SkyEcosystem‘s (MakerDAO) Spark Tokenization Grand Prix, which aims to onboard $1B in tokenized financial assets. 🏁

🗣️ On the application, Carlos Domingo… https://t.co/XS0T8XrymW

— Ondo Finance (@OndoFinance) September 24, 2024

Nathan Allman, Founder and CEO of Ondo Finance, expressed pride in presenting OUSG as a key solution for diversifying SparkDAO’s RWA tokens. He highlighted the commitment to fostering a long-term partnership with the Sky ecosystem. The goal is to make sUSDS a leading savings instrument on-chain, providing effective backing for users worldwide.

The Ondo price has seen moderate fluctuations over the past 24 hours, indicating volatility. As of the reporting time, the ONDO price hovered at $0.7346, marking a slight decrease of 0.30% from the previous day. The trading day began at a low of $0.7148 and rose to a high of $0.7576, as illustrated by the green and red segments in the day’s price chart.

The 4-hour technical indicators for ONDO price show a significant upward trend. The Moving Average Convergence Divergence (MACD) line has moved above the signal line, suggesting bullish momentum in recent trading sessions.

This movement is further supported by the MACD histogram, which shows increasing green bars, indicating that the buying pressure has consistently been stronger than the selling pressure

Will Ondo Price Hit $1 After BlackRock Collaboration and $OUSG Proposal? — Ondo Price Chart| Source: TradingView

According to DeFiLlama, Ondo Finance (ONDO) has reached a significant milestone in its financial growth, with its Total Value Locked (TVL) surpassing $617.16 million. This achievement highlights the platform’s increasing influence and trust within the decentralized finance sector.

Additionally, Ondo Finance boasts a market capitalization of approximately $1.061 billion. However, 134.3% of these funds will be unlocked in the upcoming four months, suggesting potential shifts in its market valuation and liquidity.

Recent market sentiment has seen a notable upswing, sparking hopes for further gains. Investors pay close attention as the top atcoin approaches the important $0.8 mark. This surge follows the collaboration with BlackRock and the proposal related to $OUSG.

The current positive trajectory may pave the way for a potential rise toward the $1 threshold. If this bullish trend persist, ONDO could reach the $1 level in the near future

Frequently Asked Questions (FAQs)

The $OUSG proposal, submitted to the Spark Tokenization Grand Prix, aims to onboard $1 billion in tokenized financial assets to the Sky Ecosystem.

The proposal is expected to enhance Ondo Finance’s market presence by integrating real-world assets into the blockchain, potentially boosting its market value.

RWA tokens refer to Real World Asset tokens, which represent tangible or intangible assets on the blockchain.