Ondo Finance Backed By Coinbase Soars 8% On Major Listing

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Coinbase-backed Ondo Finance recently piqued significant investor interest, securing a major spot market listing on a globally renowned CEX. Notably, ONDO token price rallied nearly 8% in tandem with the listing’s surfacing, causing a flurry of discussions among crypto market participants. OKX, the Seychelles-headquartered crypto exchange, recently made an official announcement about its plans for listing the token.

Here’s a brief report on the announcement that soon gained substantial traction due to the crypto’s price rally.

OKX Unveils Listing On Spot Market

As per an official press release dated July 29, OKX revealed that it will list Ondo Finance token on its spot market pegged to the USDT pair (ONDO/USDT). Starting today, 8 AM UTC, the abovementioned pair is to commence trading on the crypto platform. Meanwhile, deposits for the same were opened at 7 AM UTC, per the official announcement.

Ondo Finance is a DeFi platform offering seamless RWA (real-world assets) tokenization. The project’s tokenomics and distribution plans include:

5.21 billion- ecosystem growth
3.3 billion- protocol development
1.29 billion- private sales
198 million- community access sale

Meanwhile, the token’s price continued pumping, igniting further optimism as the spot listing paves the road for more money inflow to the coin’s ecosystem.

Also Read: Peter Schiff Decodes ‘Flawed’ Logic of Bitcoin Going to Millions Per Coin

ONDO Price Rallies

As of writing, the ONDO price soared 7.68% and traded at $1.04. The token’s 24-hour lows and highs were evaluated to be $0.9639 and $1.05, respectively.

Derivatives data by Coinglass revealed a significant 10.52% surge in the Ondo Finance futures OI to $146.88 million today, underscoring further money inflow for crypto. Coupled with the abovementioned listing chronicle, recent market stats have made market sentiments take an optimistic shift.

Intriguingly, as seen this year with the Wormhole and UXLINK listings on OKX, the tokens’ prices gradually increased, although market bears eventually presented volatility. Nonetheless, the listing-birthed optimism persists, whereas some upcoming OKX listings include Pikamoon, KAI, and Mallconomy, among many others, as spotlighted by CoinGape Media.

Also Read: BlackRock Confronts Crypto Scams After Ethereum ETF Launch, What’s Happening?

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