The recent association with BlackRock has sparked a surge in RWAs, igniting a crypto craze with many digital currencies experiencing a sharp uptick. In contrast to the broader market slump, ONDO, buoyed by retail investors, saw only a slight downturn.
**Table of Contents**
– Analysis of ONDO’s Market Behavior
– Projections for ONDO’s Valuation
**Analysis of ONDO’s Market Behavior**
Distinct from its counterparts, ONDO’s valuation trajectory has been unique. Typically, large-scale investors (‘whales’) are the ones to calm the markets in times of uncertainty. However, in ONDO’s case, it was the retail investors who stepped in as guardians. For the most current financial updates, turn to **COINTURK FINANCE**.
A notable shift occurred recently when ONDO holders, each possessing between 10 to 100 million of the cryptocurrency, liquidated 132 million ONDO, valued at upwards of $141 million. This sell-off was presumably an attempt to avoid the broader market’s downturn.
Yet, this sell-off led to an intriguing turn of events. Retail investors countered the whales’ actions by initiating a significant purchasing spree, which helped maintain ONDO’s price stability. During this period, there was a clear uptick in the holdings of mid-term investors.
Prior to these market activities, ONDO’s total circulation was at 34%, which escalated to 72% post-transactions. Conversely, the share of ONDO held by short-term investors plummeted from 53% to 22%.
Ultimately, ONDO didn’t suffer a drastic fall; instead, it entered a phase of market consolidation.
**Projections for ONDO’s Valuation**
The decline in ONDO’s value has decelerated, consistently challenging the pivotal support level of $1.07. With the altcoin’s price hovering around $1.09, it’s plausible that the whales might reach their target.
Despite the strategic plays by whales, the concerted efforts of retail investors have, thus far, averted a significant price collapse, suggesting that ONDO may continue to consolidate. Nevertheless, should the price breach the $1.07 threshold, a more precipitous fall could ensue, potentially driving the value below the $1 mark.
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**Disclaimer:**
The content of this article is not intended as investment advice. Given the high volatility and risk associated with cryptocurrencies, investors are advised to perform due diligence before making any investment decisions.
