The market valuation for Ondo Finance has surged past the $3 billion mark again, driven by significant trading activity potentially linked to recent high-level discussions with the U.S. Securities and Exchange Commission regarding asset tokenization.
Data indicates the project’s market cap hit $3.16 billion, a level unseen since early March. The native token, ONDO, traded around $1.01, reflecting a 16% increase over the previous day. Notably, 24-hour trading volumes exploded by 147%, exceeding $600 million, signaling heightened investor interest in the crypto asset.
This market momentum coincided with news of an April 24th meeting between Ondo Finance leadership, accompanied by legal counsel specializing in financial regulation, and the SEC. Discussions centered on navigating the regulatory landscape for tokenizing traditional U.S. financial assets.
Key topics reportedly included registration pathways, potential broker-dealer rule applications, and market oversight frameworks for these emerging digital securities. Proposals for regulatory sandboxes or potential exemptions were reportedly discussed, aiming to balance innovation with robust investor protection.
Strong trading pushed ONDO above the significant $1.00 psychological threshold, with price action sustained above key short- and mid-term moving averages. An Relative Strength Index (RSI) reading of 65 points to growing buying pressure.
Other technical signals, like the Moving Average Convergence/Divergence (MACD), also suggest bullish short-term sentiment for the crypto token. This positive engagement with regulators appears to be viewed favorably by the market, contributing to the upward price movement.
However, longer-term indicators like the 200-day moving average suggest a more cautious outlook remains. Should the current buying pressure persist, ONDO has room for further gains, currently sitting significantly below its recorded all-time high near $2.14. The ongoing dialogue between DeFi protocols focused on Real World Assets (RWAs) and regulators is increasingly vital for the broader adoption of asset tokenization.