The Crypto market is once again seen a stir and this time the center of discussion is Ondo Finance. After an important meeting with US Securities and Alternate Fee (SEC), there has been a tremendous jump in the price of Ondo Token. In this meeting, the Ondo Group introduced a plan to torqueze American financial assets. This step can prove to be a major change not only for Ondo, but also for the entire traditional finance and blockchain industry.
Ondo Finance achieved $ 3 billion market cap
After this news, the market cap of Ondo Finance reached $ 3.16 billion, which has reached this level for the first time since March 8. Ondo Worth $ 1.02 has increased, which reflects a jump of about 6% in the last 24 hours. Not only this, its trading volume has also increased. All this indicates that both the trust and enthusiasm of the investors are on the new peak.
Signs of possible change in regulatory policy after SEC meeting
At the meeting with SEC, Ondo made it clear that they want to torize American financial assets, making it possible to bring traditional assets to blockchain. Legal representative in this meeting Davis Polk & Wardwell Also involved. The topics involved in the discussion were included –
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Legal registration
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Broker-deale regulation
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Market supervision
ONDO suggested “sandbox initiatives” and potential regulatory discounts to promote innovation and the security of investors remains.
Bulish signal received from technical indicators
According to technical analysis, the price of Ondo has crossed the important level of $ 1.00.
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Relative Energy Index (RSI) Currently at 65, which shows increasing demand.
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Transferring average (Small and mid-term) price is going on, which supports short-term bullish trends.
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Macd It is also in positive zone, indicating that the bullish trend may be further accelerated.
However, long-term indicators such as 200-day Ma are still showing a cautious stance.
What can be a big change?
If SEC accepts Ondo’s plan, this will be the first time when American Traditional Finance Assets are regulated Blockchain Will be brought on. This will not only connect Ondo with Legacy Finance, but can also cause a wave of tooking in the entire industry.
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Way will open for big banks and funds
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Investors will get transparency and 24/7 access
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Blockchain’s integration in American regulatory system will increase rapidly
Conclusion
This meeting of Ondo Finance and SEC can affect not only the price of a token, but the entire financial system. If this effort is successful, the era of Tokanized Finance in the US may begin. With this, Ondo will not only be a crypto project, but can also create a bridge between traditional and digital finance. In the coming time, SEC’s decision will decide this direction and perhaps, this change is really big.
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