Ondo Finance Backed By Coinbase Soars 8% On Major Listing
Highlights
- Ondo Finance secures spot market listing on OKX.
- The listing adds a bullish tint to the coin, potentially paving the wav for increased money inflow.
- ONDO price rallied nearly 8% today, July 29.
Coinbase-backed Ondo Finance recently piqued significant investor interest, securing a major spot market listing on a globally renowned CEX. Notably, ONDO token price rallied nearly 8% in tandem with the listing’s surfacing, causing a flurry of discussions among crypto market participants. OKX, the Seychelles-headquartered crypto exchange, recently made an official announcement about its plans for listing the token.
Here’s a brief report on the announcement that soon gained substantial traction due to the crypto’s price rally.
OKX Unveils Listing On Spot Market
As per an official press release dated July 29, OKX revealed that it will list Ondo Finance token on its spot market pegged to the USDT pair (ONDO/USDT). Starting today, 8 AM UTC, the abovementioned pair is to commence trading on the crypto platform. Meanwhile, deposits for the same were opened at 7 AM UTC, per the official announcement.
Ondo Finance is a DeFi platform offering seamless RWA (real-world assets) tokenization. The project’s tokenomics and distribution plans include:
- 5.21 billion- ecosystem growth
- 3.3 billion- protocol development
- 1.29 billion- private sales
- 198 million- community access sale
Meanwhile, the token’s price continued pumping, igniting further optimism as the spot listing paves the road for more money inflow to the coin’s ecosystem.
Also Read: Peter Schiff Decodes ‘Flawed’ Logic of Bitcoin Going to Millions Per Coin
ONDO Price Rallies
As of writing, the ONDO price soared 7.68% and traded at $1.04. The token’s 24-hour lows and highs were evaluated to be $0.9639 and $1.05, respectively.
Derivatives data by Coinglass revealed a significant 10.52% surge in the Ondo Finance futures OI to $146.88 million today, underscoring further money inflow for crypto. Coupled with the abovementioned listing chronicle, recent market stats have made market sentiments take an optimistic shift.
Intriguingly, as seen this year with the Wormhole and UXLINK listings on OKX, the tokens’ prices gradually increased, although market bears eventually presented volatility. Nonetheless, the listing-birthed optimism persists, whereas some upcoming OKX listings include Pikamoon, KAI, and Mallconomy, among many others, as spotlighted by CoinGape Media.
Also Read: BlackRock Confronts Crypto Scams After Ethereum ETF Launch, What’s Happening?
- Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?
- Spot Bitcoin ETFs Record 2nd Best Weekly Inflows Ever, Bloomberg Analysts Bullish
- Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B
- Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana
- ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
