Ondo continues its positive trajectory in the cryptocurrency market. The token has recorded a 2.28% rise in the last 24 hours, building on a 3.89% gain over the past week. At the time of writing, Ondo trades at $0.9469 with a market capitalization of $3.01 billion.
Its 24-hour trading volume has reached $214.29 million, reflecting a sharp 43.21% increase. This boost in activity signals growing interest from both retail and institutional investors.
The price momentum is reinforced by steady buying pressure near the $0.90 to $0.92 range, which has served as a reliable demand zone. As Ondo holds above the breakout point, market sentiment remains in favor of further upward movement.
Institutional backing strengthens adoption
A major catalyst for Ondo’s current momentum comes from traditional finance. Fidelity recently launched the Fidelity Digital Interest Token (FDIT), a tokenized money market fund backed almost entirely by Ondo Finance’s Short-Term US Treasuries Fund (OUSG). OUSG already manages over $730 million, offering instant redemptions, daily interest accrual, low fees, and multi-chain support.
This integration places Ondo at the forefront of tokenized finance. Its ecosystem already spans assets managed by major institutions such as BlackRock, Fidelity, Franklin Templeton, and WisdomTree. By linking decentralized finance with traditional finance, Ondo cements its role as a bridge between both worlds.
The inclusion of Fidelity’s FDIT underscores the growing recognition of tokenized assets among institutions and highlights Ondo’s strategic positioning in this expanding sector.
ONDO technical breakout fuels bullish outlook
The ONDO chart confirms a bullish breakout from the downtrend line that had constrained the price movement since mid-July. The breakout occurred near the $0.94 to $0.95 levels, so the dominant force passed from the sellers back to the buyers. Resistance is current at near $1.05, while harder impediments should be at near $1.20.
Should momentum be maintained, the larger breakout target foresees a move into the vicinity of the $1.50 to $1.52 area as a potential 61% move from current levels. A decline through $0.94 would, however, test supports at $0.92 and at the $0.90 area, while further losses would retrace the $0.88 area. Current outlook favors continued upside so long as the breakout formation is in effect.
