ONDO Rockets 17% Post-SEC Huddle—Regulatory Relief or Just Another Crypto Sugar Rush?
Another day, another regulatory nod sending crypto traders into a frenzy. ONDO’s price just ripped 17% after the SEC’s latest task force meeting—because nothing pumps a token like bureaucrats shuffling paperwork.
What’s fueling the surge? Speculation that the SEC might—gasp—actually clarify rules instead of dropping enforcement grenades. Or maybe it’s just hedge funds front-running the inevitable rug pull. Classic crypto.
Next targets? If ONDO clears the $0.35 resistance level, bulls could stampede toward April’s ATH. But watch the SEC’s next move—this agency loves killing rallies with a well-timed lawsuit. Trade accordingly.
The SEC’s crypto task force, led by Hester Peirce, is actively meeting with digital asset companies to create new regulations for the industry.
On April 24, the task force met with ONDO Finance and law firm Davis Polk & Wardwell. The discussion centered around the rules for tokenizing U.S. assets and how blockchain-based systems could comply with existing financial regulations.
The session was mainly focused on creating regulatory sandboxes or relief options that could encourage innovation within the existing compliance systems. This approach shows Ondo’s commitment to providing legally compliant institutional-grade tokenization solutions through blockchain.
After the news, Ondo’s token price jumped 7.5%, crossing $1 and reaching a $3 billion valuation for the first time since March 7. The token is currently showing strong upward momentum as it trades above $1.03 with a surge of over 17% in the past 24 hours.
Ondo Finance has previously donated $1 million to Donald Trump’s inauguration fund, and Davis Polk recently announced that it would represent Trump’s social media company, Truth Social, in launching crypto-linked ETFs.
Technical analysis shows that Ondo’s price could continue to rise in the coming weeks after it emerged from a consolidation phase. If the price manages to close above $0.98, it could rise 21%, targeting $1.18. While the support level is at $0.81 and the next target is at $1.09, a breakout could further push the price to $1.20.
Besides, analyst Dami-Defi said that ONDO has broken out of its descending re-accumulation pattern and is gearing up for a macro-scale rally. The first target is $1.88, and if the momentum continues, it could reach $3.50. Another analyst suggests that Ondo could follow the trends of global money supply (M2), and something big might be on the horizon for the token.
