The cryptocurrency market started the new week with sales. Leading cryptocurrency Bitcoin lost its support of $41 thousand. Most major altcoins also saw significant losses. However, a listing on leading crypto exchange Coinbase has sent an altcon jumping.
Coinbase gave list news, altcoin price jumped!
cryptokoin.comAs you follow from , the market is having a red day today too. The selling pressure on Bitcoin prevents the market from gaining new momentum. However, even in the red market, there are cryptocurrencies advancing in the green zone. One of these is ONDO Finance’s native token. What enabled this was the listing news of the leading cryptocurrency exchange Coinbse. In its announcement, Coinbase announced that it would add ONDO to its list with the ‘experimental’ label. This tag is generally used for altcoins that are more open to speculation and may see high volatility in their prices. In this context, the cryptocurrency exchange made the following statement:
Coinbase will add support for Ondo Finance (ONDO) on the Ethereum network (ERC-20). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase and CoinbaseExch in regions where trading is supported. (…) Coinbase will add support for ONDO with the Experimental tag.
Coinbase stated that trading will begin later today once liquidity conditions are met. He noted that once sufficient supply of this asset is ensured, trading in ONDO-USD transaction parities will be gradually initiated. However, a reminder that ONDO support may be restricted in some supported jurisdictions.
Following the Coinbase listing news, ONDO price jumped amid the red market. The altcoin rose above $0.30 from $0.246, where it fell during the day. At press time, ONDO was trading at $0.3082, up 12.7% on a daily basis.
Ondo Finance announces APAC expansion
Ondo Finance’s expansion into the APAC market is a significant milestone considering its global market share of approximately 40%. Indeed, the new APAC office is poised to capitalize on its strong presence in tokenized securities. The company plans to offer innovative products such as OUSG, OMMF and USDY. Specifically, OUSG provides a yield-generating alternative to US Treasuries, OMMF to US money market funds, and USDY to traditional stablecoins. These products give investors access to U.S. Treasury securities and money market funds. Nathan Allman, founder and CEO of Ondo Finance, highlighted the active and growing crypto community in Asia. He noted the region’s appreciation for exposure to high-quality U.S. assets.
Ondo Finance has strategically planned to expand into new markets in line with the predicted boom in asset tokenization. Additionally, Outlier Ventures’ “Real-World Asset Tokenization 2024 Thesis” predicts that by the end of the decade, the real-world asset tokenization market could reach $10 to $15 trillion.
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