The RWA (Real World Asset) ecosystem has seen notable activity in the past week (Dec 9–15, 2024), with ONDO emerging as the top performer, boasting an impressive 641.73% growth.
This surge has cemented ONDO’s position as a dominant force in the space, with 96% of its holders currently in profit.
📊 RWA Ecosystem Analysis using @intotheblock (Dec 9-15, 2024).$ONDO leads the ecosystem with a +641.73% growth, making it the top performer.
Also, 96% of its holders are in profit, solidifying its dominance in the space.https://t.co/Lx8AjlLKLF#RWA #Crypto #ONDO pic.twitter.com/QL6gs8EYOi
— champagne mami 💕 (@EkponoAkwaowo) December 9, 2024
Since early November, ONDO’s price has climbed steadily from around $0.70 to a peak of $1.8–$1.9 in early December, fueled by a sharp breakout around December 1. Despite a current pullback to $1.5, the liquidation heatmap highlights strong support in the $1–$1.2 range, potentially stabilizing the price.
🔍 In-depth analysis of $ONDO from the last month [THREAD] 🧵
1/ Since early November, we've seen a steady price increase from ~$0.7 to a local high of $1.8-1.9 in early December. Particularly interesting is the sharp jump that occurred around December 1st.
2/ The liquidation… pic.twitter.com/GfEhrBzVBL
— MR INCOGNITO (@MRRINCOGNITOO) December 9, 2024
ONDO Records Massive Increase In Daily Active Addresses
On-chain data reveals a significant spike in Daily Active Addresses during the first week of December, coinciding with ONDO’s price surge. This uptick indicates growing interest and activity around the project. Moreover, the MVRV (Market Value to Realized Value) ratio shows a divergence: while the 30-day MVRV has reached local highs, the 365-day MVRV continues its upward trajectory, suggesting sustained long-term potential.
Community sentiment also aligns closely with price movements. During ONDO’s early December rally, social volume and positive sentiment spiked, further demonstrating the project’s growing traction.
The Long/Short Difference metric indicates a dominance of long positions over the past week, though higher volatility in these positions has also been observed. Meanwhile, Network Growth shows a steady upward trend, hinting at organic adoption and development within the ONDO ecosystem.
With strong on-chain fundamentals, robust community sentiment, and strategic price support levels, ONDO remains a standout performer in the RWA ecosystem. As adoption grows and long-term indicators remain bullish, the token is well-positioned for continued success in the evolving DeFi landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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