ONDO Price Breaks Key Resistance as Tokenization Infrastructure Expands
ONDO's price is showing signs of a potential breakout as it moves above a key resistance zone and the tokenized-asset infrastructure continues to expand.
Crypto With Gopal highlighted that ONDO is breaking out of a rectangle pattern on the 4-hour chart, with the repeated defense of the lower boundary suggesting that buyers have remained active around the $0.32 area.
The new development of Ondo Stocks provides another way for institutions to take their traditional securities onto the blockchain, which could lead to the expansion of ONDO's network and provide a strong foundational background for its price.
The total value locked (TVL) of Ondo Finance amounted to $967.7 million, marking a 3.0% increase during seven days, which is another measure that suggests increased participation of capital within products of the network.