ONDO surged 10% in a single day after the network opened up tokenized stocks as collateral for perpetual trading, a move designed to widen the pool of assets available for leveraged positions. The announcement landed at exactly the right moment technically: the token had already broken out of a bullish pennant that had been capping prices during weeks of consolidation.
That breakout left a market gap between $0.32 and $0.36. The gap filled quickly, and buyers pushed the price higher rather than pulling back. ONDO has been holding above the 20-day Simple Moving Average since finding a floor near $0.30, and the Bollinger Bands have widened noticeably, pointing to more volatile sessions ahead.
Whales kept buying through the breakout
Spot Average Order Size data tracked by AMBCrypto shows large holders did not step back after the rally. On-chain figures from CryptoQuant flagged a spike in whale-sized accumulation right around current price levels, suggesting institutional-scale players still see the uptrend as intact. In past trending cycles for ONDO, that kind of persistent buying has typically given the move more runway rather than exhausting it early.
The next level traders are circling is $0.50, a round-number psychological barrier that tends to attract both profit-taking and fresh entries. Coinglass data shows liquidity clusters totalling more than $5 million sitting just above $0.45, and price action that hunts unmitigated liquidity could pull ONDO through that zone toward the $0.50 target. Higher highs and higher lows remain intact for now.
This article is for informational purposes only and does not constitute financial advice. Crypto markets are volatile; always do your own research before making investment decisions.
