The ONDO token, native to the Ondo Finance securities tokenization project, has become the 94th most valued project by market capitalization. At the time of writing, ONDO’s market capitalization was $1.05 billion
.
Growth Record and Market Capitalization Analysis
Market capitalization is the product of price and circulating supply. For ONDO, its circulating supply was $1.38 billion out of a total of 10 billion. Despite the fact that the circulating supply has not changed, the price of the token has risen to $0.76, representing an increase of 31.46% in the last 24 hours
.
BlackRock’s Influence on ONDO’s Growth
According to our research, leading investment firm BlackRock was a major factor in the price increase. On March 20, the Wall Street Journal (WSJ) reported that BlackRock committed another tranche of capital to launch a tokenized monetary fund
.
ONDO’s involvement in BlackRock’s Tokenization Plans
BlackRock’s head of digital assets, Robert Mitchnick, said: “Tokenization remains a focal point of BlackRock’s digital asset strategy. Through the tokenization of the Fund, BUIDL will offer investors significant advantages by allowing the issuance and trading of properties on
a blockchain.”
Increase in ONDO Owners and Social Dominance
In addition, AMBCrypto checked if there had been other changes with ONDO using on-chain data. According to Santiment data, Ondo’s Social Dominance increased to 0.869% on March 20, indicating a growing interest in the
project.
Future Perspectives and Conclusions
The value of ONDO may record additional gains, but it will depend on the demand for tokenized securities on the blockchain. If demand increases when altcoin prices start to rise, ONDO’s price could become one of the best performers. However, there could also be a decrease in value in the short term.
