The ONDO price has since been experiencing a significant surge lately, increasing by 85% over the past two weeks. Today alone, it has risen by around 5%.
This upward movement started following the positive sentiment in the market after the recent US elections, which went in favor of President Trump; this has boosted investor confidence.
ONDO Signals Potential Rally Ahead
The price breakout from a descending channel has played a crucial role in this rally, signaling a potential reversal in the previous downtrend.
This has raised optimism about ONDO price, with many setting ambitious price targets. Notably, an analyst known as Crypto Winkle, who has a substantial following of over 20,000 on X, has noted a falling wedge breakout for ONDO. He stated that after 230 days of accumulation, the cryptocurrency is poised for gains.
This bullish sentiment is further supported by technical analysis, which indicates that the price has broken out of its bearish pattern and is now moving upward with strong momentum. Currently, the price is around $1.04, reflecting a notable gain from its breakout level
The combination of favorable market conditions and technical indicators has set the stage for ONDO’s potential continued growth.
READ ALSO: Chainlink (LINK) Price Chart Signals Clear Path to +100% Surge, Targeting $35
Partnership WIth PayPal and BlackRock Involvement Fueling Spike
ONDO price action has been positive following its groundbreaking announcement of PayPal USD (PYUSD) integration with the OUSG platform. Nathan Allman, founder of Ondo Finance, revealed this strategic partnership that enables seamless 24/7 conversions between OUSG and PYUSD.
This development has sparked increased interest in ONDO tokens, as the platform positions itself at the intersection of traditional finance and DeFi. Ondo Finance’s achievement of surpassing $600M TVL as the first tokenized U.S. Treasuries platform has further fueled market confidence.
PayPal USD (PYUSD) is coming to @OndoFinance!
We are excited to announce that Ondo Finance, a pioneer in the tokenization of real-world assets, will enable 24/7 conversions between Ondo OUSG and PYUSD. Learn more: https://t.co/Kwu1M2OQ5X https://t.co/sDQEDriFmJ
— PayPal (@PayPal) November 18, 2024The PYUSD’s position is one of the fastest-growing stablecoins, suggesting this integration could substantially expand Ondo’s market reach. The announcement also earned praise from Jose Fernandez da Ponte of PayPal, who endorsed PYUSD’s enhanced utility for real-world assets.
This strategic move strengthens Ondo’s position in the RWA space, particularly with OUSG’s connection to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This institutional backing, combined with the new PYUSD integration, suggests strong fundamental support for ONDO’s recent price momentum.
Looking ahead, this development could mark a turning point for ONDO, as it bridges the gap between traditional financial instruments and digital assets while expanding accessibility to tokenized U.S. Treasuries.
