Ondo Finance’s native token, ONDO, has emerged as one of the strongest-performing cryptocurrencies this week, climbing 27% from $0.32 on July 15 to nearly $0.42. While Bitcoin and Ethereum have traded in relatively narrow ranges, ONDO has attracted fresh buying interest as investors increasingly focus on projects driving the tokenization of real-world assets (RWAs).
The rally has been fueled by major institutional partnerships, growing on-chain activity, and a technical breakout that suggests the uptrend may not be over yet.
Institutional partnerships strengthen Ondo’s investment case
One of the biggest drivers behind ONDO’s recent gains is Ondo Finance’s continued push into institutional tokenization.
The company has been working with the Depository Trust & Clearing Corporation (DTCC) on a framework designed to tokenize traditional securities held by the Depository Trust Company (DTC). Instead of creating synthetic versions of assets, the model links blockchain-based entitlements directly to securities held within existing custody systems.
This approach could eventually support tokenized products backed by assets such as the SPDR S&P 500 ETF and Circle shares, making traditional investments more accessible through blockchain technology.
Ondo has also expanded its role in cross-border financial infrastructure. Earlier this year, the company completed a tokenized U.S. Treasury redemption with Mastercard, Kinexys by J.P. Morgan, and Ripple, demonstrating how regulated assets can move efficiently between blockchain networks and traditional banking systems.
Tokenized asset platform continues to grow
Ondo Finance has continued expanding its tokenized investment offerings.
The platform now supports more than 440 tokenized assets, with approximately $1.05 billion in total value locked (TVL) across its products.
In June, the company introduced 24/7 minting and redemption for tokenized stocks, allowing investors to access blockchain-based financial products beyond traditional U.S. market hours.
Another positive development came through a partnership with Japan’s SBI Group, where both companies plan to explore tokenized Japanese securities using JPYSC, a yen-backed stablecoin, for settlement.
These developments have strengthened investor confidence that Ondo remains one of the leading projects in the rapidly growing real-world asset sector.
Network activity rises alongside price
The bullish momentum isn’t limited to institutional announcements.
On-chain data shows daily active addresses increased from roughly 2,600 to more than 3,300 as ONDO climbed toward the $0.40 level.
Trading volume also surged during the rally, while derivatives open interest recovered from recent lows, indicating fresh capital entering the market.
The rapid move above $0.39 also forced many short sellers to close their positions, adding further buying pressure through short liquidations.
Market analyst Michaël van de Poppe believes the recent pullback to $0.34 served as a healthy retest before the latest breakout.
He suggested that if current momentum continues, ONDO could extend its rally toward $0.45, with strength in the token potentially benefiting the broader real-world asset (RWA) sector.
Technical breakout points to higher targets
From a technical perspective, ONDO has broken above a multi-month descending channel, ending a bearish trend that had been in place since May.
The measured move from the breakout projects a potential upside target near $0.47, which also aligns with previous resistance levels.
Momentum indicators continue supporting the bullish outlook.
The Relative Strength Index (RSI) has climbed to 69, approaching overbought territory but still leaving room for additional upside. Meanwhile, the MACD remains firmly bullish, with expanding positive momentum indicating buyers remain in control.
On the four-hour timeframe, ONDO has also moved above key resistance around $0.40, while the Chaikin Money Flow (CMF) remains positive, suggesting buying pressure continues to outweigh selling activity.
Key price levels to watch
The immediate resistance zone sits between $0.41 and $0.42, where traders may begin taking profits following the recent rally.
A strong daily close above $0.42 could trigger another wave of buying, opening the door toward $0.45 before potentially testing the broader breakout target around $0.47.
On the downside, $0.39 remains the most important support level. Holding above this area would keep the bullish structure intact.
If sellers regain control and push ONDO below $0.39, the next support levels come into focus around $0.378 and $0.366, which could delay further upside.
Liquidation levels could fuel another rally
According to liquidation data, one of the largest clusters of leveraged short positions sits around $0.416–$0.417.
If buyers successfully push through that resistance, forced liquidations could trigger another short squeeze, accelerating the move toward $0.42 and beyond.
At the same time, leveraged long positions remain concentrated around $0.39, making that level critical for maintaining the current bullish trend.
Outlook remains positive
Ondo Finance continues benefiting from growing institutional adoption of tokenized financial assets, while its expanding ecosystem and strong technical setup have helped ONDO outperform much of the broader crypto market.
As long as buyers defend the $0.39 support zone and price breaks above $0.42, the next major upside targets remain $0.45 and $0.47.
However, traders should watch for increased volatility after the recent 27% rally, as profit-taking near resistance could trigger short-term pullbacks before the next leg higher.
