Ondo Finance is one of the most dominant players in the Real World Asset (RWA) and Tokenization sector of the crypto market.
This is because it is currently expanding its product into more than one blockchain to ensure interoperability and partnerships among blockchains.
The plan is to increase user’s experience when using the platform so that users can utilize multiple tokens from multiple blockchains all in one platform.
Ondo Finance’s Real World Asset Narrative
The Real World Asset narrative has been one of the most talked about in the crypto space due to more institutional investors supporting it.
BlackRock is the latest bigger institution that has decided to participate in the trend with the introduction of tokenization on the Ethereum Blockchain.
The company is also seen funding and supporting other blockchains in the RWA sector, which prompts the speculation that RWA will be one of the most liquid sectors in the crypto space due to its high volume potential.
Ondo Finance is also seen partnering with BlackRock, which is why it is currently predicted to be the biggest player in the sector.
It is expanding its services and products to more than just one blockchain, with the current integration being with the Cosmos Blockchain.
The Cosmos Blockchain has been gaining attention recently, with more people discovering its liquidity as well as its interoperability that increases user’s experience in the crypto space.
With the integration, Ondo Finance plans to increase its product’s volume, which is why it is currently receiving so much positive response from traders and investors.
Is 150x Gain Too Optimistic?
Looking at its price movement, the prediction of 150x currently seems too optimistic for this token, as it is currently still consolidating, even after receiving the partnership news with Cosmos.
However, if the consolidation stops, the price of $ONDO can go up significantly, due to the positive outlook on the RWA and Tokenization category of the crypto market.
In the short term, there is a potential for $ONDO to go up by 30%, which is not a bad call, but, it is still far from the 150x prediction which would total to around a 1,500% increase.
$ONDO’s Chart / Source: Tradingview
$ONDO itself is currently trapped in a symmetrical triangle pattern, which could trigger a price surge if the token decided to break out of it.
Looking at most movements from this pattern, usually, the price will do a fake out before going up, essentially tricking traders by going down before going up.
This is why it is better to analyze and keep an eye on it first before making any decision on a position.
The buying zone that can be good for $ONDO stands at around $0.744 which could trigger a price surge if the token decided to go up from there.
The next target is around the $1 to $0.98 mark, which essentially could give traders a 1:3 long position with a 30% potential gain.
Looking at the long-term price using the Fibonacci extension, the 150x increase would mean that $ONDO must reach the $2.5 price zone, which could happen in the next couple of months.
To capitalize on this trend, traders can use Bitrue to buy $ONDO with the $USDT in the spot market, to ensure that the token is safe without using any leverage.
However, the prediction might be wrong, so to minimize losses, it is good to use proper risk management as the token is still volatile.
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