The altcoin ONDO has bucked the trend in the wider crypto market by increasing in value by more than 5% over the past 24 hours. This surge in buying pressure has propelled ONDO to outperform other cryptocurrencies, including Ethereum, on the social front. With a current trading value of $0.8269 and a market capitalization of over $1.14 billion, ONDO has emerged as the 77th largest crypto asset. Investor confidence in the token has grown significantly, indicated by a sharp spike in weighted sentiment.
ONDO’s positive price action has been accompanied by a surge in social interactions, with a 117.4% increase recorded recently. This growth in social volume and value can be attributed to the token’s testing of near-instant conversions between Circle’s USDC stablecoin and BlackRock’s new BUIDL token, resulting in heightened market attention. While ONDO’s bull rally continues, technical indicators suggest caution, with some indicators like the Chaikin Money Flow signaling a potential correction. However, a breakout above $0.87 could pave the way for ONDO to reach $1 in the coming weeks, as per analysis conducted by Hyblock Capital.