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ONDO Soars 30% Amid Major Perpetual Listing
Ondo Finance’s native token has garnered noteworthy investor attention amid the broader market’s recent recovery. Today, the coin’s price soared nearly 30%, sparking optimism further supported a major perpetual futures market listing. OKX, one of Asia’s leading crypto exchanges, revealed perpetual futures market listing for the RWA token today. This listing ignited significant optimism, paving the way for potential upside momentum ahead with new money inflow into the token’s ecosystem.
OKX Unveils Perpetual Futures Market Listing
According to an official release dated August 6, OKX is set to list the token on its perpetual futures market today at 10:30 AM UTC. The listing paves the way for platform users to partake in futures trading the asset with up to 50x leverage.
Further, the announcement also revealed that spot margin trading and ‘Simple Earn’ for the token will commence today at 10:00 AM UTC. These listings offer the RWA token enhanced user appeal on the platform, potentially injecting more money into its ecosystem.
As seen previously with numerous perpetual listings, such as Coinbase’s announcements on PEPE, MKR, and AAVE, among many others, market sentiments usually remain optimistic with such positive news. Meanwhile, it’s also worth noting that on-chain data by Arkham indicates BlackRock BUIDL fund’s massive $8.1M token transfer to Ondo Finance over the past day, adding a layer of intrigue to the price movements following the recent market crash.
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ONDO Price Rallies
As of writing, the ONDO price gained 32.78% in the past 24 hours to reach $0.7134. Its 24-hour bottoms and peaks were registered as $0.5056 and $0.75, respectively. Today’s remarkable pump comes against the backdrop of the broader crypto market recovery alongside Japan’s Nikkei and Topix, both gaining 12%.
Further, the derivatives data offered by Coinglass underscored a strong uptrend for the token today. The RWA token‘s open interest surged 40.32% to $88.38 million, further accompanied by a derivatives volume upswing of 22.15% to $832.87 million. This data spotlighted increased investor enthusiasm surrounding the token.
Also, the RSI rested along the 26 mark, indicating that the asset is in the oversold territory. This further paves the way for potential buying from investors, sparking additional optimism on price movements.
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Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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