ONDO fluctuated 20.8% in 24 hours: rebounded from a low of $0.344 to $0.413, driven by the tokenized treasury market hitting a record $8B and cross-chain redemption partnership
Bitget Pulse2026/05/08 14:47Volatility Overview
In the past 24 hours, ONDO price dropped to a low of $0.344 and reached a high of $0.4154. The current price is $0.4132, representing an overall amplitude of 20.8%, showing a pattern of initial decline followed by rebound. Trading volume increased significantly, with approximately $171 million to $372 million in spot trading volume over 24 hours, while futures trading volume reached $605 million, indicating increased capital activity.
Brief Analysis of the Unusual Movement
- Tokenized Treasury Market Hits Record High: On May 8th, the total size of the tokenized treasury market reached a new record of $8 billion. Ondo's USDY product, as an Ethereum-based key government bond contributor, directly boosted market confidence.
- Cross-chain Redemption Collaboration Implemented: Ondo Finance completed its first cross-industry tokenized treasury redemption with Ripple and JPMorgan, using the XRP Ledger to settle USD yields. This event was announced between May 6th-7th and its continued influence pushed the price to rebound by more than 30% from the lows.
- Large Holder Activity: Major investors transferred 89.3 million ONDO tokens, but the price response was limited, not resulting in significant selling pressure.
Market Views and Outlook
Overall market sentiment is positive, with average social media sentiment scoring 4.3/5. The community is focused on institutional adoption and RWA sector growth, such as the continuous interest in Ondo products driven by the BlackRock BUIDL fund. The mainstream view is that in the short term, the demand for tokenized assets will support price levels, but cautions are raised about the risk of a broader market correction. Analysts advise monitoring the sustainability of trading volumes and changes in on-chain holders.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, and is for informational reference only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Evaporating nearly 40 trillion yen and with its market value down to one-third: Kioxia falls from Japan's number one, AI storage narrative faces double backlash
The main pressure comes from two fronts: the return on capital expenditure in AI is being questioned, compounded by the accelerated expansion of Chinese manufacturers, impacting global NAND price expectations. Further downside risks are amplified by Bain Capital's reduction of its holdings and high retail leverage positions. The earnings report at the end of October will serve as a critical validation point, but analysts are still projecting an expected return of 118%.
Amp Price Prediction: AMP Rallies 29% in a Week as Strong Momentum Meets Selling Pressure
US Stocks Last Week: Institutions Set Record for "Selling", Retail Investors Set Record for "Buying the Dip"
Last week, hedge funds recorded the largest net sell-off in the TMT sector in history, with net exposure dropping to the 0th percentile. However, at the same time, retail investors made record purchases through leveraged ETFs, with SOXL alone absorbing $7 billion. The issue is that the overall institutional exposure remains as high as 213.9%. In other words, fund managers opted for hedging rather than genuinely deleveraging and exiting the market.
Crypto prices
More
