- ONDO buying and selling quantity surged by greater than 300% in Could, indicating excessive demand.
- ONDO outperformed different cryptocurrencies and led the buying and selling quantity.
- Ondo Finance expands USDY stablecoin by integrating with Mantle.
In accordance with knowledge from IntoTheBlock, ONDO buying and selling quantity surged by over 300% in Could, signaling elevated on-chain exercise and sustained market curiosity.
ONDO buying and selling quantity has been fluctuating on an general upward development, indicating a surge in buying and selling quantity and person engagement.
ONDO constantly maintained the best buying and selling quantity throughout the interval in comparison with cryptocurrencies resembling Maker, Pax Gold, Maple, and Goldfinch, which had considerably decrease and extra steady buying and selling volumes.
A key statement is ONDO's excessive volatility. Sudden spikes and drops recommend durations of intense buying and selling exercise, seemingly triggered by market occasions or information. For instance, ONDO surged almost 20% to an all-time excessive of $1.16 following the approval of an Ethereum spot ETF. On Could 9, the token rose from $0.7812 to $0.8092 after asserting a partnership with decentralized infrastructure community Zebec.
Regardless of this volatility, comparatively excessive buying and selling volumes in Could 2024 point out continued curiosity from merchants and buyers. ONDO's market dominance in comparison with different listed cryptocurrencies suggests it’s a most well-liked buying and selling asset.
In the meantime, Ondo Finance, a yield coin options supplier, is growing the monetary companies of the long run. The community's native stablecoin, USDY, has been built-in with Mantle to extend the effectivity of capital actions throughout the market. An preliminary provide of over $1 million USDY will assist liquidity options.
Nonetheless, the USDY token is presently not accessible to U.S. buyers as it’s present process registration beneath the U.S. Securities Act. On the time of writing, ONDO was buying and selling at $1.31, displaying an intraday decline of 4.03%. Up to now this month, the token has recorded 16 inexperienced days, closing with a inexperienced candlestick.
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