ONDO token surges after foundation update, targeting 470% rise

ONDO Finance’s token rose sharply following an ecosystem update by the Ondo Foundation. The token traded at $0.3576, up 2.52% in the last 24 hours, with a 24‑hour volume of $91.34 million and a market capitalisation of $1.74 billion. Analysts note key resistance levels at $0.48 and $0.70; breaking $0.48 could confirm a bullish reversal, while the longer‑term target of $1.16 would represent a 470% gain.

The update expanded tokenised equity collateral on the Ondo Perps platform to all users, initially supporting tokenised versions of the SPY and QQQ ETFs. This change coincided with a 12.28% price jump to $0.4023, the token crossing its 20‑, 50‑, 100‑ and 200‑day exponential moving averages and showing a bullish MACD crossover. Open‑interest on Ondo Perps rose to roughly $175‑180 million, and perpetual‑contract trading volume exceeded $1 billion in the past week, contributing to overall RWA trading volume of over $3 billion.