ONDO Price Prediction: Why ONDO Could Soon Rally Through $2

Highlights:

• ONDO is consolidating after hitting a daily high of $1.82
• Underlying momentum is bullish despite profit-taking triggering an intra-day correction
• Strengthening RWA narrative led by BlackRock supports rally to $2

Ondo was one of the best cryptocurrency performers in November. In the last 30 days, ONDO has rallied by 171%, outperforming most top 100 cryptocurrencies. However, it has been in the last 24 hours that ONDO has gained significant traction.

In this period, ONDO has gained by 43% to trade at $1.68. Trading volumes have also shot up in the same period indicating the rising investor interest in ONDO. At the time of going to press, ONDO trading volumes were up by 294% to hit a high of $958 million.

Chainlink has Reawakened Investor Interest in RWA Cryptocurrencies

The rising momentum in ONDO coincides with the bullish sentiment around asset tokenization. Yesterday, December 2, news hit the market that Chainlink was getting into a partnership with 21X to tokenize European stocks. This deepens the rising market consensus that the future of the stock markets is in tokenization.

We're excited to announce Europe’s first tokenized securities trading & settlement system—21X (@tradeon21x)—is adopting the #Chainlink standard.

Price Feeds will underpin 21X’s trading engine & CCIP will connect it to assets across the onchain economy: https://t.co/ACGrBKuduL pic.twitter.com/BYKSBGUFp8

— Chainlink (@chainlink) December 2, 2024

While the news only related to Chainlink, what it means for the future of the stock markets is what has helped uplift ONDO. ONDO is one of the top cryptocurrencies that are at the center of asset tokenization thanks to its connection to BlackRock. BlackRock is in the process of tokenizing assets and is actively using ONDO for this purpose. This means as the multi-trillion capital markets go on-chain, ONDO will be set for a price rally going into the future.

Black rock continues to transfer funds to $ONDO 🔥🔥

Black rock's frequent transactions show the reliability of @OndoFinance 🫡 pic.twitter.com/MbHOt4SjAx

— Smith 🇻🇳 (@Smithmoon96) December 3, 2024

ONDO Tokenomics FUD Losing Steam

Besides getting the push from the asset tokenization narrative, ONDO is also getting a boost from the fact that FUD around it is receding. For a while now, there has been a lot of FUD around ONDO related to its tokenomics. However, this is changing as more influencers come out to explain to their followers that ONDO token unlocks have little impact on its price action. 

🚨🚨🚨🚨 $Ondo ARMY LISTEN UP!

REPOST VIDEO EXPLAINING TO EVERYONE HE GOT TOKENOMICS WRONG ON $Ondo AND JANUARY UNLOCK IS INDEED A LINEAR VESTING SCHEDULE (unlocked monthly) OVER THE COURSE OF 3 years AND WILL HAVE MINIMUM PRICE IMPACT IF AT ALL!!!

Told you guys, don’t fade me… pic.twitter.com/Aqa9uo2bSN

— Not Telling (@nottellingyou73) December 3, 2024

That’s because the unlocks are scheduled monthly and as such are already priced in. As more investors get to understand how token unlocks work, the ONDO unlocks coming up in January will most likely not have much of an impact on the price, especially now that the RWA narrative is getting stronger.

The Broader Cryptocurrency Market Is Turning Bullish

There is also the fact that the broader cryptocurrency market is getting bullish, a factor that could have a positive impact on the price of ONDO. In the last couple of days, Bitcoin has made a strong rebound after a price correction that saw it drop to $91k. The rebound has also triggered an altcoin rally and cryptocurrencies with real use cases are taking center stage.

With expectations of better crypto policies in the US after Donald Trump takes over, cryptocurrencies with strong use cases are expected to do even better going into 2025. For ONDO, which already has partnerships with large institutions like BlackRock, the shift towards cryptocurrencies with real use cases in the economy could make it a big deal. Essentially, this means the recent ONDO pump is just the beginning. ONDO’s price could be headed for much higher prices in the future.

Technical Analysis – ONDO Price Consolidating But Trending Towards Resistance

ONDO’s price chart is already painting the picture of a cryptocurrency that is headed higher. After the price pump that started on December 2, ONDO is consolidating between the $1.77 resistance and $1.60 support.

This is an indicator that despite the profit taking after the pump, there is little correction off the inter-day high of $1.82. With bullish sentiment on the rise across the market, ONDO could soon rally through the $1.77 resistance. In such a case, ONDO could soon rally to $2 or higher. A rising market and the underlying sentiment around ONDO could help it hit this price and potentially higher.