Ondo

Franklin

Dollar

OUSG

Ondo Finance token retreated for two consecutive days as the recent crypto bull run took a breather and as whales started to sell. 
Ondo (<a href="https://crypto.news/price/ondo/" target="_blank">ONDO</a>) price dropped to $0.97, down by 13.5% from its highest level this week, indicating it has moved into a technical correction. 
The main catalyst for the sell-off is the ongoing weakness in the crypto market, with Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) <a href="https://crypto.news/bitcoin-etfs-record-438m-in-outflows-as-btc-dips-below-93k/" target="_blank">falling from near $100,000 to $92,000</a>.&nbsp; 
At the same time, there are signs that whales are selling the coin. Data from <a href="https://etherscan.io/tx/0x60ea7d020cb922abd661ad77b6d9a2e041468dc405cceb15baebc411ed250055" target="_blank" rel="nofollow">Etherscan</a> shows that one whale moved 1.58 million coins to Gate.io. Typically, crypto holders move assets from wallets to exchanges when preparing to sell. 
Another holder moved ONDO tokens <a href="https://etherscan.io/tx/0x1ed03b4a03fc08732f04c13d8206fde39fb68e864ac6cfd1d8a62e42f588662e" target="_blank" rel="nofollow">worth $658,265</a> to the same exchange. Altogether, whales moved coins worth almost $7 million to exchanges, likely to take profits. 
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Meanwhile, Ondo’s network has seen slow growth in the past few days as the total value locked has remained at $643 million. Most of these assets are in the US Dollar Yield, which holds $452 million and offers a 4.90% yield. The rest, approximately $198 million, are in US Treasuries, which provide a 4.59% yield. 
In a recent statement, the developers highlighted that Ondo’s tokenized treasury assets offer a higher yield than other popular assets, such as Franklin Templeton’s FOBXX and Blackrock’s BUIDL. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Ondo's tokenized US Treasuries currently offer the highest yield among all tokenized US Treasuries products, with <a href="https://twitter.com/search?q=%24USDY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDY</a> at 4.9% and <a href="https://twitter.com/search?q=%24OUSG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$OUSG</a> at 4.64%. Data source: <a href="https://twitter.com/RWA_xyz?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@RWA_xyz</a> ⚠️ NOTE: Neither USDY nor OUSG has been registered under the US Securities Act of 1933, as amended ("Act")… <a rel="nofollow" href="https://t.co/GyjgOicaxX" target="_blank">pic.twitter.com/GyjgOicaxX</a>— Ondo Finance (@OndoFinance) <a href="https://twitter.com/OndoFinance/status/1859571112100647336?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 21, 2024</a>
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Ondo Finance is part of the tokenization industry, which analysts predict will experience significant growth in the coming years. A recent note from BCG estimates that over $16 trillion of assets will be tokenized by 2030. 
<h2 class="wp-block-heading" id="ondo-price-technical-analysis">Ondo price technical analysis</h2> 
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 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/11/Ondo-Price.png" alt="Pepe price" class="wp-image-14314014">
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 Ondo chart | Source: <a href="https://crypto.news/price/ondo/" target="_blank">crypto.news</a>
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The daily chart shows that the price of the Ondo token peaked at $1.1200 during the recent bull run. It has since retreated, moving to the lower side of the ascending channel pattern. The coin remains above the 60-day and 25-day moving averages but has dropped slightly below the 38.2% Fibonacci Retracement level. 
ONDO also stays above the key support level at $0.8740, its peak on September 27. Therefore, it is likely the coin will retest the $0.8740 support level before resuming its uptrend. A move above this month’s high of $1.1200 could indicate further gains, potentially reaching the year-to-date high of $1.50, about 53% above the current level. 
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Ondo Finance price drops amid rising whale activity: what’s next?

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