ONDO increased by 10%, TVL reached ATH: Target 1.2 USD?

* Market demand is skyrocketing, with ONDO’s TVL reaching an all-time high.

• Ondo increased by 10.9% in the past day as the growth momentum strengthened.

In the past day, Ondo Finance [ONDO] has made a strong breakthrough on the price chart. At the time of writing, Ondo is trading at $1.02 after rising 10.9% in 24 hours.

Before this price increase, altcoins were in a downtrend, down 16.78% on monthly charts. The recent price increase indicates an increase in demand and investment in the Ondo ecosystem.

What drives the price increase of Ondo?

According to TinTucBitcoin’s analysis, Ondo is receiving high demand from both retailers and large organizations.

Source: Artemis

This demand can be seen when ONDO’s TVL has surged in the past day, reaching an all-time high of 1 billion USD.

The surge in TVL indicates that more capital is flowing into the network, reflecting the increasing market confidence.

When this reaches a new high, it reflects a stronger market and a wider sense of optimism. Therefore, large investors, both institutional and individual, are pouring capital into the network.

Source: IntoTheBlock

The increase in capital inflows from large institutions continues to be confirmed by the surge in net cash flow from major investors, which has spiked in the past two days, reaching 30.9 million.

With a whale capital line of 52 million ONDO Tokens, this indicates that the whale is optimistic and buying altcoins aggressively.

Source: Santiment

This is further confirmed by the exchange’s cash flow balance, decreasing to -1.02 million.

Therefore, there are more capital outflows than inflows, implying that investors are withdrawing money from the exchange more than depositing. Such market behavior reflects a strong optimistic sentiment.

Simply put, what is driving the recent price movement is the increase in capital inflows from both large institutional investors and retail investors.

The question is, for investors entering the market to accumulate, can they push Ondo to achieve additional profits?

What’s next for altcoins?

Source: Tradingview

When buying pressure returned yesterday, ONDO successfully tested the $0.86 support level. This positions the altcoin for further growth potential on the price chart.

With recent price movements, a daily close above the $1 level will confirm this optimistic outlook. Moving beyond this level will see Ondo reclaim market levels around $1.2.

However, if recent buying efforts fail, altcoins will drop back to $0.8 once again.

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