Ondo Finance is gaining momentum following its partnership with Franklin Templeton to bring tokenized exchange-traded funds (ETFs) on-chain. This collaboration has significantly increased Ondo's total value locked (TVL), which rose to $2.92 billion from $2.70 billion earlier in the week, reflecting strong institutional interest and capital inflows. The partnership links Ondo to Franklin Templeton, a firm managing approximately $1.7 trillion in assets, and introduces 24/7 trading through blockchain technology.
Market activity has intensified, with futures open interest jumping over 17% in a day, indicating heightened trader participation. Despite recent liquidations totaling over $600,000, funding rates remain positive, suggesting traders are maintaining a bullish outlook. Technically, Ondo is testing a key resistance near the 50-day exponential moving average at $0.2767, with potential for a breakout to higher targets if momentum persists. The integration of tokenized funds is expected to broaden institutional access to decentralized finance, aligning traditional investment products with blockchain-based systems.
Ondo Surges as Franklin Templeton Partnership Boosts Tokenized ETFs
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
