Ondo Finance’s ONDO token soars above $1 following SEC’s crypto task force meeting
Ondo Finance’s native ONDO token has surged past the $1 threshold after a high-profile meeting with the SEC’s Crypto Task Force.
This remarkable uptick has propelled ONDO to a $3.19 billion valuation, marking the highest level since early March.
Over the past 24 hours, the token has climbed by an impressive 14.8%, driven by a record $644.98 million in trading volume across spot markets.
On-chain metrics underline this strength, as derivatives trading volume exploded by 128.22% to reach $1.44 billion.
Concurrently, open interest in ONDO futures contracts has increased by 29.27% according to Coinglass data, reflecting growing speculative interest among traders deploying leverage.
In addition, the underlying liquidity of the Ondo Finance protocol remains robust, with a Total Value Locked hovering around $1.01 billion, reinforcing institutional confidence in its tokenization model.
The meeting with the SEC crypto task force
The much-hyped meeting convened by the US SEC Crypto Task Force was led by Commissioner Hester Peirce and aimed at exploring compliant frameworks for tokenized securities.
During the meeting, representatives from Ondo Finance, including CEO Nathan Allman and CSO Ian De Bode, collaborated with legal experts from Davis Polk & Wardwell in presenting structured tokenization proposals.
During the meeting, the representatives discussed key considerations such as registration requirements, broker-dealer rules, market structure regulations, and financial crimes compliance.
The meeting also looked into state corporate law implications and explored sandbox mechanisms designed to foster regulated innovation within the digital assets space.
This engagement underscores Ondo’s strategic pursuit of legally compliant institutional-grade tokenization solutions that bridge traditional finance and blockchain systems.
Also, earlier in the year, Ondo Finance had notably donated $1 million to support the inauguration fund for President Donald Trump, highlighting its active political engagement.
Around the same period, Davis Polk & Wardwell was named counsel to Truth Social for its forthcoming launch of crypto-linked ETFs, illustrating the firm’s deepening ties to both political and digital finance sectors.
Technical analysis: can ONDO remain above $1?
Technical analysis further strengthened the bullish case for ONDO, seeing that the token has broken out of a descending re-accumulation pattern charted over recent weeks.
A decisive close above $0.98 has been interpreted by analysts as a catalyst for an initial 21% rally toward $1.18, according to leading market watchers.
Notably, should the token breach its immediate resistance near $1.09, technical models suggest a potential extension to $1.20 on sustained momentum.
Beyond that, a macro-scale rally targeting $1.88 appears within reach if current bullish conditions and trading volumes hold firm.
At present, the primary support level resides at roughly $0.81, a zone that has historically offered reliable buying interest.
Should price action continue to favor longs, some prognosticators even envision a surge toward $3.50, leveraging the same momentum that drove ONDO’s rapid ascent this week.
Overall, the convergence of regulatory clarity, technical breakouts, and heightened derivatives activity forms a potent recipe for ONDO’s sustained upward trajectory.
However, the Relative Strength Index (RSI) is quickly approaching the overbought region, signaling a potential reversal that could see the token retest the support at $0.81.
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