Ondo climbed above $1.09 on Sept. 12, extending a week-long rally that has put the token in position to test a breakout zone just as real-world asset tokens hit record market value.
Summary
- Ondo price rose 8% in the past day, testing a breakout zone with surging trading and derivatives activity.
- The total value of tokenized RWAs crossed $29B this week, while RWA tokens hit a $76B market cap.
- Trust Wallet’s new tokenized stocks feature, powered by Ondo, boosted short-term sentiment.
At press time, ONDO was trading at $1.09, up 8% in the past 24 hours, within a seven-day range of $0.8974–$1.13. Although the token has increased by 19% in the last week and 4% in the last 30 days, it is still 50% below its peak of $2.14, which was set in Dec. 2024.
Ondo’s (ONDO) 24-hour volume reached $485.39 million, an 85.5% increase from the day before, indicating a surge in trading activity. There were significant inflows into derivatives as well. As per Coinglass data, open interest increased by 14% to $585.74 million, while ONDO futures volume rose 67% to $1.38 billion.
Increasing derivatives volume indicates rising speculative activity, and higher open interest suggests that traders are holding more positions, which is often a sign of larger price swings ahead.
RWA market boom lifts Ondo
The rally coincided with a wider surge in tokenized assets. The market capitalization of RWA tokens rose from about $67 billion to nearly $76 billion over the past week, setting a new high. Meanwhile, the total value of tokenized assets on-chain surpassed $29 billion for the first time, based on data from RWA.xyz.
Ondo has been at the center of this momentum. Together with Ondo, Trust Wallet introduced tokenized U.S. stocks and exchange-traded funds on Sept. 9. The integration enables users globally to trade stocks like Apple and Tesla onchain without the need for brokers, with the help of the decentralized exchange aggregator 1inch (1INCH).
Ondo’s protocol total value locked has also expanded significantly this year, rising from $650 million in January to $1.56 billion as of Sept. 12, according to DefiLlama data.
Ondo price technical analysis
The ONDO/USDT daily chart shows the token pressing against the upper Bollinger Band near $1.13, supported by rising volume. A relative strength index of 66 suggests building momentum but not yet overbought conditions.
The majority of moving averages, ranging from the 200-day SMA to the 10-day EMA, show bullish alignment, offering a constructive backdrop.
MACD readings display a buy signal, but momentum has slowed, suggesting potential short-term consolidation. If the $1.13 resistance is decisively broken, it may set up a move toward $1.20 and beyond, while failure to hold above $1.00 risks a retracement toward $0.95, where both moving averages and the middle Bollinger Band provide support.
