Ondo's price surged by more than 12% in 24 hours following a significant update from the Ondo Foundation that broadened the use of tokenized stock collateral on its Perps platform. This development is a notable shift in how traders can use assets without liquidating holdings or relying solely on stablecoins.

Tokenized Stocks Now Usable by All Ondo Perps Traders

The Ondo Foundation made tokenized stock collateral accessible to every user on its Perps platform, allowing tokenized stocks like SPY and QQQ to serve as productive collateral backing perpetual trading positions. This eliminates the need for traders to park capital in stablecoins or to sell assets to access new exposure. The move highlights Ondo's continuing emphasis on integrating real-world assets (RWAs) into decentralized finance.

According to the official announcement, "Tokenized stock collateral is now available for all Ondo Perps users," reflecting an expansion that aims to diversify collateral options and reduce capital inefficiency.

Market Reaction and Technical Analysis

At press time, Ondo is trading around $0.4023, marking a 12.28% increase within 24 hours. On the technical front, the price has surpassed key exponential moving averages: 20, 50, 100, and 200-day EMAs. This breakout signals that buyers have taken control in both short- and medium-term trends.

The MACD indicator shows a bullish crossover, with the MACD line above its signal line and a positive histogram, suggesting growing upward momentum. However, for confirmation, sustained trading above the current range is necessary. Support levels are observed at $0.376 and $0.345, while resistance lies between $0.42 and $0.45.

Derivative Market Participation Bolsters Price Rally

Data from CoinGlass reveals open interest climbing to around $175 million to $180 million concurrent with the price rise, indicating new capital flowing into the derivatives market rather than position closures. also a wave of short liquidations has occurred, which added buying pressure as bearish traders exited losing positions.

This combination of increasing open interest and liquidations points to a breakout supported by genuine market participation over short-term speculation. Maintaining the $0.376 support level would further validate the bullish outlook for Ondo.

Material for informational purposes only, not financial advice.