- Ondo Finance climbed 14% after large investors accumulated $61 million worth of ONDO while perpetual trading volume surged.
- A move above the $0.40 resistance level could support further upside if buying pressure remains strong.
Ondo Finance (ONDO) surged 14% after large investors accumulated millions of tokens and perpetual futures trading volume jumped sharply. The combination of whale buying and rising derivatives activity strengthened the token’s bullish outlook.
The latest move has placed ONDO among the strongest-performing digital assets, outperforming Bitcoin and many other major cryptocurrencies. At the same time, the growing interest in real-world asset (RWA) tokenization continues to support positive sentiment around the project.
Whale Buying Supports ONDO Rally
One of the biggest drivers behind the recent rally was heavy accumulation by large investors.
Blockchain data showed that around 178 million ONDO, worth approximately $61 million, was transferred from Coinbase Prime Custody to several separate wallet addresses. The transactions were completed in six batches, with each transfer containing nearly 29.6 million ONDO valued at roughly $10.2 million.
Such transfers are often viewed as signs of accumulation rather than selling pressure. Large purchases by institutional investors and crypto whales can strengthen market confidence, especially when they happen alongside rising prices.
These transactions also continue a recent trend of increased large-wallet activity surrounding ONDO.
Perpetual Trading Volume Climbs Sharply
Market activity also increased significantly across perpetual futures markets.
Daily perpetual trading volume jumped more than fourfold, rising from approximately $38.5 million to over $155 million within a day. While this remained below the recent peak of $271 million recorded on July 17, it still reflected a sharp increase in speculative interest.
Interestingly, decentralized exchange (DEX) spot trading remained relatively unchanged, suggesting that most of the recent activity came from derivatives traders rather than spot market participants.
The combination of rising derivatives volume and strong spot accumulation points to growing confidence among traders betting on further price gains.
ONDO Price Tests Key Resistance Levels
From a technical perspective, ONDO recently broke above a triangle consolidation pattern that had contained price action for more than two months.
The breakout followed multiple successful defenses of the $0.30 support level, indicating strong buying demand.
The token is now attempting to establish a higher low around $0.34, but analysts note that confirmation would require a daily close above $0.40.
Momentum indicators also remain supportive. The Moving Average Convergence Divergence (MACD) continues to show bullish momentum, while the Relative Strength Index (RSI) sits around 64.7, suggesting buyers still control the trend without the market being deeply overbought.
Can Ondo Finance Continue Higher?
ONDO is now approaching several key resistance levels that could shape its next move. The first hurdle is $0.40, and a daily close above this level would confirm the higher low forming around $0.34. If buyers maintain momentum, the price could then target $0.44 before testing $0.48, the top of the previous triangle pattern.
Strong whale accumulation and rising perpetual futures volume suggest buyers remain in control. However, if the rally loses strength, ONDO could pull back to $0.34 or even revisit the $0.30 support level where the recent breakout began.
Outlook
Ondo Finance has attracted fresh attention after combining strong whale accumulation with a sharp increase in perpetual futures trading volume. The breakout from a lengthy consolidation pattern has improved the technical outlook, but confirmation above key resistance levels remains important.
If institutional buying continues and bullish momentum stays intact, ONDO could extend its recovery. Traders, however, will be watching closely to see whether the token can secure a decisive close above $0.40 before expecting another leg higher.
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