$ONDO $0.7638
Its price rose by 1.5% to $0.7671 over the past 24 hours, maintaining its position near recent highs after a week of gains, according to a technical analysis model from CoinDesk Research.
This move comes about two weeks after #أوندو_فاينانس unveiled a new collaboration in this sector focused on setting standards for tokenized securities.
In a blog post dated June 17, the company announced the formation of the Global Markets Alliance, a group of wallets, exchanges, and custodians working together to enhance interoperability, protect investors, and access real-world tokenized assets. Participants include the Solana Foundation, BitGo, Fireblocks, Jupiter, One Inch, Trust Wallet, BitGet Wallet, Rainbow Wallet, and Alpaca.
This announcement comes ahead of the planned launch of $ONDO by Ondo Global Markets, a platform aimed at enabling wallets and cryptocurrency applications to provide tokenized trading of publicly traded U.S. securities, such as stocks, ETFs, and mutual funds, to users residing outside the U.S. According to the company, this initiative aims to reduce friction associated with traditional capital market infrastructure and expand global access.
The company announced that the group will work to align technical standards and compliance standards for tokenized securities, enhance access and liquidity across platforms, and support use cases such as self-custody and blockchain trading. While the coalition did not commit to a specific timeline, its members framed the initiative as part of a long-term shift toward integrating traditional financial products into blockchain-based systems.
In a post on X dated June 28, Ondo Finance wrote that "2025 will be the year of tokenized stocks," indicating the team's belief that the adoption of tokenized financial instruments may accelerate in the coming quarters.
Key Technical Analysis
Between June 28 at 15:00 GMT and June 29 at 14:00 GMT, the price of $ONDO
From $0.749 to $0.769, an increase of 2.67% within a trading range of 3.33%.
Strong support was confirmed at $0.755 with high trading volume during 21:00 UTC on June 28.
The main resistance level at $0.765 was broken during 00:00 UTC on June 29, when trading volume rose to 8.9 million.
From 13:05 to 14:04 UTC on June 29, the price of #ONDO slightly decreased from $0.773 to $0.769, a drop of 0.58%, with notable sell-offs at 13:33 UTC.
A temporary support level formed at $0.768 after multiple unsuccessful recovery attempts above $0.769 in recent minutes.
Price movement over the last hour formed a descending channel with lower highs, but the last candle indicated a potential reversal of the trend. #StrategyBTCPurchase #NODEBinanceTGE #USCorePCEMay