- ONDO's commerce quantity elevated by greater than 300% in Might, signaling robust demand.
- ONDO led the buying and selling quantity and outperformed different cryptocurrencies.
- Ondo Finance expands with USDY stablecoins integrating with Mantle.
ONDO's commerce quantity elevated by greater than 300% in Might, signaling elevated exercise within the chain and continued market curiosity, in keeping with knowledge from IntoTheBlock.
ONDO's transaction quantity fluctuated with a normal upward pattern, indicating a pointy enhance in commerce quantity and consumer engagement.
ONDO constantly maintained the very best transaction quantity all through the interval in comparison with cryptocurrencies resembling Maker, Pax Gold, Maple, and Goldfinch, which had considerably decrease and extra steady volumes.
Key observations embody ONDO's excessive volatility with sudden peaks and troughs indicating intervals of intense buying and selling exercise, possible pushed by market occasions or information. For instance, ONDO rose virtually 20% after the approval of Ethereum spot ETFs, pushing it to an all-time excessive of $1.16. On Might 9, the token rose from $0.7812 to $0.8092 following the announcement of a partnership with the decentralized infrastructure community Zebec.
Regardless of this volatility, the comparatively excessive quantity of transactions in Might 2024 exhibits continued curiosity from merchants and buyers. In comparison with different listed cryptocurrencies, ONDO's market dominance means that it’s a most popular buying and selling asset.
In the meantime, Ondo Finance, a income coin answer supplier, is growing future financing choices. The community's native stablecoin, USDY, has built-in with Mantle to extend the effectivity of capital mobility out there. An preliminary supply in extra of USD 1 million will help the liquidity answer.
Nonetheless, USDY tokens are presently unavailable to US buyers on account of pending registration underneath the US Securities Act. At press time, ONDO was buying and selling at $1.31, reflecting an intraday drop of 4.03%. As of this month, the token had 16 inexperienced days that had been closed with inexperienced candlesticks.
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