Ondo maintains a positive trajectory even as the broader crypto market faces bearish pressure. The token has remained relatively stable over the last 24 hours, although it recorded an 8.03% drop over the past week.
At the time of writing, the token is trading at $0.9304 with a 24-hour trading volume of $147.04 million. This marks a 13.52% decline in daily activity. Despite reduced turnover, Ondo’s market capitalization remains strong at $2.94 billion, reflecting sustained investor interest.
Also Read: ONDO Poised for Parabolic Surge If Bulls Clear $1.135
Recent on-chain activity has drawn attention. A Gnosis Safe Proxy wallet deposited 26.28 million ONDO tokens into exchanges just 10 hours ago. This transaction was worth nearly $24.7 million. Out of this, 6.57 million ONDO, valued at $6.19 million, moved directly into the Bybit deposit wallet linked to Arthur Hayes.
Over the past month, the same Bybit wallet has accumulated 36.88 million ONDO, amounting to $37.56 million. Such steady inflows highlight significant accumulation by a high-profile figure. Market watchers view this pattern as a potential indicator of strategic positioning, even as retail traders remain cautious.
The token hovers just above the lower Bollinger Band support at $0.8664. The price remains in a consolidation phase with strong resistance around $0.9991 and supply pressure extending to $1.13. Recent candles suggest buying support around $0.90, where bulls are defending against further declines.
Bollinger Bands indicate rising volatility. A breakdown through $0.8664 could drag Ondo back to further declines, targeting the $0.70 to $0.75 support. Conversely, a breakout above $0.9991 could open up the way to $1.10 to $1.13. Traders remain tentative, with the price remaining around the $1 psychological level and therefore a major target of both bulls and bears.
It presents community sentiment from a poll of 142,100 in the token. The overwhelming majority of 86% of voters are bullish and foresee a rising cost of the asset. It is represented visually with the prominent green bar and the up arrow indicating high optimism towards good market movement.
On the other hand, only 14% of respondents are bearish and anticipate a fall in price, as shown with a smaller red section and a downward arrow. Sentiment as a whole indicates strong community optimism and foresees a successful future performance of the asset.
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