SEC's Tokenization Framework Sends Ondo Finance Token Soaring

The US Securities and Exchange Commission (SEC) has introduced a temporary framework for tokenized securities to be traded on-chain, which has sent Ondo Finance's native ONDO token soaring.

The 'Innovation Exemption' allows regulated trading of certain tokenized U.S. stocks while the agency works out regulatory requirements for blockchain-based securities markets.

Crypto analyst Crypto With Gopal noted a rectangle pattern on the four-hour chart, with a resistance level at $0.425 and a support level at $0.320. A breakout above $0.425 could push ONDO to test its target of $0.55.