ONDO, the native cryptocurrency of Ondo DAO, has been making strong moves in the crypto space. The ONDO price has regained momentum once again gaining 8% over the last week and currently trading at $0.82. Some market analysts are expecting this rally to continue with a potential of 50-60% gains going ahead.
What’s Behind the ONDO Price Rally?
On Thursday, April 11, USDC stablecoin issuer Circle introduced a new smart contracts function allowing instant redemptions from the newly launched BlackRock BUIDL fund for USDC stablecoins. Ondo Finance’s tokenized asset platform was quick to test the near-instant conversions between USDC and BUIDL.
The world’s largest asset manager BlackRock made headlines last month while dipping its toes into the asset tokenization market and launching its own BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
The investment in the fund is symbolized by the Ethereum-based BUIDL token, offering daily yields distributed to token holders through bl
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