- ONDO token surges 35% on account of integration with PayPal USD (PYUSD).
- The partnership allows 24/7 liquidity between PYUSD and Ondo's tokenized US Treasuries (OUSG).
- Analysts are predicting additional upside with $3.40 targets and potential momentum for the Binance itemizing.
The ONDO token rose by 35% this month following the combination of Ondo Finance with PayPal USD (PYUSD). The token gained 9% within the final 24 hours to achieve $1.05. ONDO can also be up 13% over the previous week.
This value motion follows a giant announcement on November 15, when Ondo Finance unveiled its integration with PayPal USD (PYUSD). The collaboration allows prompt conversions between PYUSD and Ondo Quick-Time period US Authorities Treasuries (OUSG), a significant step in bridging decentralized finance (DeFi) and conventional monetary methods.
Increasing liquidity and utility
The partnership goals to enhance the minting and buyback course of for OUSG utilizing PYUSD. This growth ensures 24/7 liquidity, enabling buyers to subscribe and redeem OUSG whereas facilitating sooner transactions throughout the Ondo ecosystem.
Jose Fernandez da Ponte, PayPal's Senior Vice President of Blockchain, emphasised the significance of this partnership and highlighted how PYUSD allows quick and cost-effective settlements.
Ondo Finance CEO Nathan Allman stated the collaboration expands investor choices for settlement options whereas holding extra property on chain.
Notably, Ondo Finance continues to guide the tokenization of real-world property, having lately surpassed US$600 million in Complete Worth Locked (TVL). Its OUSG product gives tokenized US Treasuries that present a low-risk, yield-bearing different for on-chain buyers.
What's subsequent for the ONDO token?
Whereas the ONDO token has risen considerably for the reason that partnership was introduced, analysts consider it has extra upside potential. Analyst Kyren famous ONDO's 74% weekly improve, highlighting the token's all-time excessive buying and selling quantity (ATH). Given the rise in exercise available in the market, he predicted that an all-time excessive value might observe.
One other analyst, Crypto Winkle, pointed to a breakout from a long-lasting descending wedge sample. After 230 days of accumulation, ONDO is now breaking out of its bearish development.
Winkle set profit-taking targets at $1.55, $2.24 and $3.40, representing a possible 240% achieve from present ranges. The analyst additionally speculated {that a} itemizing on Binance might additional speed up ONDO's value momentum.
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