Flux Protocol and Ondo DAO’s governance token ONDO reached a new all-time high earlier today, reaching a price of $0.9934 before pulling back to $0.8679. ONDO is currently the 95th biggest cryptocurrency in the world with a market capitalization of over $1.2 billion. The protocol focuses on securities tokenization and has seen increased interest from investors after news broke that BlackRock had launched a tokenized fund on Ethereum with Securitize, a platform in which BlackRock had strategically invested.
The recent price increase of ONDO can be attributed to the news of BlackRock’s entry into tokenization, indicating a move towards blockchain technology. Other financial giants such as Citi, JP Morgan, Société Générale, Standard Chartered, Franklin Templeton, and Mirae have also shown interest in security tokenization. Despite recent selling pressure, ONDO may find short-term support at $0.80 amidst market volatility. If Bitcoin continues to rally, ONDO could potentially reach a new all-time high soon.
Investors looking to capitalize on ONDO’s volatility may want to look into small-cap altcoins like SPONGE, a meme coin that has seen significant growth since its launch. SPONGE is an ERC-20 token that recently migrated to a V2 on Polygon, an Ethereum Layer 2 scaling solution. The token is currently in an ongoing pre-sale and offers new staking models with minimum yields of 40% APY and potential rates around 392%. SPONGE plans to launch a play-to-earn blockchain game in the future, offering players SPONGE rewards for participating.
The V2 upgrade of SPONGE introduced key improvements, including a new staking model and potential gaming opportunities for users. With plans to list on centralized exchanges and launch a play-to-earn game, SPONGE aims to disrupt larger market cap meme coins like PEPE, DOGE, and WIF. Early supporters can buy and stake SPONGE on the website to potentially benefit from the token’s growth and ecosystem. However, it is important to note that cryptocurrency investments are high-risk and speculative, and investors should conduct their own research before making any investment decisions.
