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- Ondo Finance becomes the leading tokenized Treasury issuer, surpassing Securitize/BlackRock by $98 million.
- RWA.xyz expands its data integrations, tracking Ondo Finance assets across multiple blockchain ecosystems.
In a tweet, RWA.xyz has announced the incorporation of two new backdated data sets for Ondo products, which will considerably improve its tracking capabilities across several blockchain ecosystems. The initial connection concerns USDY, a stablecoin that is now available on Arbitrum, Aptos, Sui, and Noble.
We recently added two new backdated data integrations for Ondo products:
1) $USDY on Arbitrum, Aptos, Sui, and Noble
2) $OUSG on Solana@RWA_xyz is now proud to be tracking @OndoFinance assets across all its deployed blockchain ecosystems. pic.twitter.com/DSaeNZx6gk— RWA.xyz (@RWA_xyz) August 30, 2024
Ondo Finance’s Market Leadership Solidified by Strategic Integrations
The second integration involves OUSG on the Solana blockchain. These integrations demonstrate RWA.xyz’s commitment to provide complete coverage of Ondo Finance assets across all of its blockchain platforms.
This strategic step establishes RWA.xyz as a prominent participant in the decentralized financial (DeFi) data aggregation market, bolstering its reputation for creativity and thoroughness.
With these new data integrations, Ondo Finance has surpassed Securitize/BlackRock BUIDL Fund as the leading tokenized Treasury issuer in terms of overall market capitalization, by $98 million. This milestone demonstrates Ondo’s growing impact in the tokenized asset industry, which is getting increasingly competitive.
The success of Ondo’s products reflects a larger trend toward the use of tokenized financial instruments, which are becoming increasingly important in the expanding DeFi scene.
Previously, according to CNF, the RWA Hydro Protocol effort had been developed, merging Ondo Finance and Injective to create new prospects within DeFi. The addition of USDY yieldcoin to Injective, which provides an appealing 5.3% annual percentage yield (APY), has bolstered the Hydro Protocol’s genuine yield asset strategy.
This collaboration is a significant step forward for DeFi since it illustrates the ability to combine standard financial instruments with decentralized protocols to generate unique financial products.
As of writing, Ondo’s native token, ONDO, was trading for approximately $0.5977. However, the token has fallen 4.25% over the last 24 hours, despite a huge increase in trading volume, which has risen by 57% to $48.307 million.
This price fluctuation has piqued the interest of market participants, particularly analysts who anticipate the possibility of a rebound based on critical support levels.
Meanwhile, as we previously reported, an analyst speculated that ONDO could be prepared for a rally. According to the Descending Broadening Wedge pattern, if the token’s price maintains its upward trend, it might reach a resistance level of $0.93. Furthermore, breaking through this resistance could make $1 a realistic aim, paving the way for future gains.
