Ondo Price Surges as Investors Keep Buying: Here’s Why!

The recent tokenization efforts by major US banking giants have positively impacted Ondo Finance (ONDO).

According to TradingView data, Ondo Finance’s token ONDO gained 8.45% on a daily basis and reached $0.946.

The ONDO price started to rise after yesterday’s announcement by the Depository Trust & Clearing Corporation (DTCC), the world’s largest securities settlement system. DTCC conducted a joint tokenization test with blockchain project Chainlink and banking giants such as JPMorgan, BNY Mellon, and U.S. Bank.

Ondo Finance is also working on the tokenization of real-world assets (RWAs). The project recently introduced Ondo Global Markets, which provides access to traditional securities and their associated exchange liquidity.

According to Lookonchain data, investors continue to buy ONDO as the price rises. A newly opened whale account withdrew 957 Ethereum (ETH) from the Gemini exchange and swapped 796.3 of them (worth $2.38 million) for 2.64 million ONDO.