ONDO Rises 60% in a Month – Could 21Shares ETF Application Lead to $2 Next?

ONDO, the native cryptocurrency of Ondo Finance, has increased by 60% in the last month, rising from its opening price of $0.6942 in July to a high of $1.169 on July 21. This notable surge was further fueled by 21Shares’ recent ETF application aimed at the ONDO token.

As of the latest update, ONDO has seen some profit-taking, dropping by 10.44% to a trading price of $1.025 during the session. This adjustment has led to a reduction in the token’s market capitalization from $3.7 billion to $3.2 billion.

Despite this short-term decline, over the past 24 hours, more than $448 million worth of ONDO tokens have been traded, reflecting ongoing market interest.

This vigorous trading activity has led many market observers to speculate that 21Shares’ recent submission to U.S. regulators for a spot ETF linked to Ondo Finance’s native token could stimulate significant institutional demand for ONDO.

$ONDO season is loading legends.@ondofinance ETF is loading, and this could begin a new cycle for this gem.
BlackRock fully sends ONDO!
Take notes, there is a reason why BlackRock is going all in together with $XRP and ONDO! pic.twitter.com/z0C4sgArEi

— Dark Knight (@dark_knight_btc) July 23, 2025

Institutional Foundation and ETF Filing Can Lead ONDO to $2

Ondo Finance functions as a layer-1 proof-of-stake blockchain specifically tailored for institutional finance and the tokenization of real-world assets (RWAs).

The platform has built a solid foundation in the institutional sector through strategic partnerships.

In February, the initiative collaborated with prominent institutional finance entities, including Franklin Templeton, WisdomTree, Google Cloud, McKinsey, BlackRock, PayPal, and Morgan Stanley, to launch the Ondo Finance Chain, a dedicated layer-1 protocol aimed at real-world asset tokenization.

@jpmorgan’s Kinexys just executed a tokenized U.S. Treasuries trade on @OndoFinance Chain and settled cross-chain using @chainlink’s secure infra.#jpmorgan #ondo https://t.co/syovKOC8fI

— Cryptonews.com (@cryptonews) May 14, 2025

Last week marked another significant achievement when BNB Chain, Binance’s blockchain network, announced a collaboration with Ondo Finance to incorporate tokenized real-world assets into its ecosystem.

This partnership aims to connect Wall Street with BNB Chain, introducing over 100 U.S. stocks, exchange-traded funds (ETFs), and investment funds to Ondo Finance while preserving traditional finance liquidity.

A few months prior, Ondo Finance secured another key partnership by joining Mastercard’s Multi-Token Network as a provider of tokenized real-world assets, further reinforcing its position in the institutional arena.

Can ONDO Hit $2?—Analysts Eye $27 Trillion Treasury Market

Cryptocurrency traders are perceiving the recent price correction as a buying opportunity, believing ONDO has the potential for upward movement akin to XRP, which has also gained traction among traditional finance institutions.

Chart analyst ‘Crypto Targets’ has noted that ONDO is currently in a double accumulation phase, with bullish RSI divergence and breakout structure alignment.

Double accumulation phase
RSI divergence bullish
Breakout structure weekly $ONDO just flipped the macro neckline
What comes next ? Expansion
Target: $4 pic.twitter.com/zcgrrE0Vb6

— Crypto Target (@cryptotarget11) July 23, 2025

The analysis indicates that ONDO has successfully flipped the macro neckline, potentially paving the way for expansion beyond $2.

Financial educator Kren has offered an even more optimistic long-term view, highlighting that the U.S. Treasury market is valued at approximately $27 trillion. If ONDO were to capture just 0.1% of this market, the token could theoretically trade at $6.75 per unit.

Technical Analysis: ONDO Charts Indicate $1.61 Breakout After 9% Correction

The daily ONDO/USDT chart illustrates a distinct bullish trend that recently faced significant resistance at the $1.1732 level, reflecting the July highs.

After a considerable rally from the July opening near $0.7697, the price successfully surpassed key moving averages (EMAs 20, 50, 100, and 200), indicating positive momentum.

Source: TradingView

Today’s trading session, however, reveals a sharp 9% pullback, with the token closing at $1.0397, indicating temporary exhaustion in buying pressure.

Despite this correction, the overall trend structure remains intact. The Relative Strength Index (RSI) currently stands at 62.29, positioned just below the overbought threshold, suggesting potential for a rebound without overheating concerns.

If the current correction maintains support above the moving average cluster, particularly the EMA 20 at $0.9557 and EMA 50 at $0.9379, the technical setup favors the formation of a higher low.

The anticipated trajectory suggests a possible short-term consolidation below the July highs, followed by a bullish continuation toward the next significant resistance level at $1.6117.

Should the price fail to hold support above the EMAs, it could retreat into the consolidation range between $0.80 and $0.90.

However, the current market structure supports a bullish continuation following this temporary pullback.

The post ONDO up 60% in a Month – Can 21Shares ETF Filing trigger $2 Next? appeared first on Cryptonews.