The post Trump’s Focus Shifts, Buys $4.7 Million of ONDO appeared first on Coinpedia Fintech News
After investing millions of dollars in Ethereum (ETH), the pro-crypto Donald Trump’s World Liberty Finance seems to have shifted its focus to Ondo (ONDO).
Trump’s Rising Interest In ONDO
Recently, a blockchain-based transaction tracker, Onchain Lens, shared a post on X (previously Twitter) revealing that Trump’s Liberty Finance has spent $4.7 million USDC to buy 342,000 ONDO tokens.
The post on X also noted that Ondo Finance launched Ondo Chain, a permissioned Layer 1 blockchain designed for tokenizing real-world assets in institutional finance.
However, this substantial investment in ONDO is making waves in the cryptocurrency space, leading to a surge in its price while other major cryptocurrencies struggle to gain momentum.
ONDO Current Price Momentum
ONDO is currently trading near $1.35 and has surged over 3.10% in the past 24 hours. During the same period, heightened interest from traders and investors pushed its trading volume up by 15% compared to previous days.
Bullish On-chain Metrics and Upcoming Level
Despite this bullish outlook, investors have been found dumping their holdings onto exchanges, as reported by the on-chain analytics firm Coinglass.
Data from spot inflow/outflow revealed that exchanges have seen an outflow of over $11.54 million worth of ONDO coins, indicating potential accumulation by whales and long-term holders. This could create buying pressure and drive further upside momentum.
According to expert technical analysis, ONDO appears bullish but is currently consolidating in a tight range between $1.175 and $1.65 over the past seven days. Based on recent price action, if the current market sentiment remains unchanged, it could soar by 22% to reach the $1.65 level in the coming days.