Global #ONDO

The ONDO/USDT pair has displayed a classic Head & Shoulders pattern on its 4-hour chart, raising concerns about potential bearish momentum.

Ondo (ONDO) has been on a remarkable upward trajectory, with its price climbing 14% this week and reaching a new high of $0.78. This bullish momentum is supported by a combination of positive on-chain indicators.

The recent market crash has been nothing short of catastrophic, erasing over $600 billion in value as bearish sentiment gripped investors. Despite the overall downturn, Bitcoin has managed to rise above $55,000, providing a glimmer of hope and sparking significant movements in some altcoins.

Ondo (ONDO), a cryptocurrency facilitating access to real-world assets through DeFi, has yet to recapture its all-time high of $1.25 set in May 2024. Despite positive aspects like bridging traditional finance and DeFi, ONDO's price recovery seems sluggish.

Lookonchain, an on-chain analytics platform, recently disclosed an intriguing transaction involving a crypto whale. On May 16, the whale initiated a transfer of 1,870.68 ETH from the cryptocurrency exchange Gemini to a newly created wallet.

Ondo's founder Nathan Allman stated that introducing Ondo Finance's products to Cosmos "will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments."