ONDO’s Buying and selling Quantity Surges 300%, Outpaces Different DeFi Tokens

• ONDO buying and selling quantity surged over 300% in Could, signaling excessive demand.
• ONDO led buying and selling quantity, surpassing different cryptocurrencies.
• Ondo Finance expands with USDY stablecoin integrating with Mantle.

ONDO’s buying and selling quantity surged by over 300% in Could, signaling heightened on-chain exercise and sustained market curiosity, in keeping with knowledge from IntoTheBlock.

ONDO’s transaction quantity fluctuated with a typically upward development, indicating a spike in buying and selling quantity and consumer engagement.

ONDO constantly maintained the best transaction quantity all through the interval, in comparison with cryptocurrencies like Maker, Pax Gold, Maple, and Goldfinch, which had considerably decrease and extra steady volumes.

Key observations embrace ONDO’s excessive volatility, with sudden spikes and drops suggesting intervals of intense buying and selling exercise, seemingly pushed by market occasions or information. As an illustration, ONDO surged practically 20% following the approval of Ethereum spot ETFs, pushing it to an all-time excessive of $1.16. On Could 9, the token elevated from $0.7812 to $0.8092 after asserting a partnership with the decentralized infrastructure community, Zebec.

Regardless of this volatility, the comparatively excessive transaction quantity in Could 2024 signifies sustained curiosity from merchants and traders. In comparison with the opposite listed cryptocurrencies, ONDO’s market dominance suggests it as a most well-liked buying and selling asset.

In the meantime, Ondo Finance, a yield coin options supplier, is creating future monetary choices. The community’s native stablecoin, USDY, has built-in with Mantle to boost capital mobility effectivity throughout the market. An preliminary provide exceeding $1 million USDY will assist liquidity options.

Nevertheless, USDY tokens are at the moment unavailable to U.S. traders as a result of ongoing registration underneath the U.S. Securities Act. As of press time, ONDO was buying and selling at $1.31, reflecting a 4.03% intraday dip. Month-to-date, the token has had 16 inexperienced days, closing with inexperienced candlesticks.