Ondo Finance Token Surges 30% Following OKX Perpetual Futures Listing

Ondo Finance Token Surges 30% Following OKX Perpetual Futures Listing

Ondo Finance’s native token has captured significant investor interest amid the broader market’s recent recovery, with the coin’s price surging nearly 30% today. This surge in value is further fueled by a major new listing in the perpetual futures market. OKX, one of Asia’s premier cryptocurrency exchanges, announced today that it will be listing the RWA token on its perpetual futures market. This move has generated considerable optimism, potentially setting the stage for further price momentum as new capital flows into the token’s ecosystem.

OKX Announces Perpetual Futures Market Listing

In an official announcement on August 6, OKX revealed plans to list the token on its perpetual futures market, with trading set to begin at 10:30 AM UTC. This listing allows users to engage in futures trading with leverage up to 50x, expanding the token’s appeal on the platform.

Additionally, the announcement disclosed that spot margin trading and ‘Simple Earn’ options for the token would also be available starting today at 10:00 AM UTC. These offerings enhance the RWA token’s accessibility, potentially driving increased investment and activity within its ecosystem.

Historically, perpetual listings on platforms like Coinbase, including tokens such as PEPE, MKR, and AAVE, have often been met with positive market sentiment. In this case, on-chain data from Arkham revealed that BlackRock’s BUIDL fund transferred a substantial $8.1 million to Ondo Finance over the past day, adding further intrigue to the token’s price movement following the recent market downturn.

ONDO Price Surge

At the time of writing, ONDO’s price has climbed 32.78% in the past 24 hours, reaching $0.7134. The token’s 24-hour low and high were recorded at $0.5056 and $0.75, respectively. This impressive rally comes on the heels of a broader recovery in the crypto market, which has paralleled gains in Japan’s Nikkei and Topix indices, both of which rose by 12%.

Derivatives data from Coinglass highlighted a strong uptrend for the token today, with the RWA token’s open interest soaring by 40.32% to $88.38 million, and derivatives volume increasing by 22.15% to $832.87 million. This data underscores the growing enthusiasm among investors.

Furthermore, the RSI currently rests around 26, indicating that the asset is in oversold territory. This suggests the potential for increased buying activity from investors, further bolstering optimism around the token’s future price movements.