Ondo Finance (ONDO) has moved towards the nearest resistance at $0.40 at the time of writing on Thursday. The rally follows the network’s strategic partnership with Japan’s SBI Group, which offset a broader downturn in the cryptocurrency market.
Ondo Finance, SBI Group partner to tokenize real-world assets
Ondo Finance has announced a strategic partnership with SBI Group, one of Japan’s leading financial groups. The collaboration aims to bring Japan’s vast traditional capital markets directly on-chain.
According to the announcement, the partnership will focus on tokenizing Japanese assets while leveraging the SBI ecosystem for wider distribution. Transactions will be settled using the yen-backed JPYSC stablecoin, establishing an efficient, compliant corridor for digital assets.
Ondo CEO Ian De Bode emphasized Japan’s status as a sophisticated capital market and said the deal “paves the way to bring Japanese assets onto the chain”. SBI Holdings CEO Yoshitaka Kitao said Ondo will be a “key strategic partner” in building SBI’s global digital asset corridor.
The integration of Japanese equities with global DeFi is a major milestone for institutional blockchain adoption, signaling strong growth momentum for the ONDO token.
Price Analysis: ONDO builds momentum
ONDO has extended its breakout above the descending trend line, establishing a solid support base near $0.31. The token continues to trade confidently above key exponential moving averages (EMAs), with the 50-day EMA and 100-day EMA at $0.34, while the 200-day EMA is at $0.38, underscoring a bullish near-term outlook.
The spot price is also above the middle layer of the Bollinger Bands at $0.33 and the upper band at $0.36, while the Relative Strength Index (RSI) is just below the overbought limit at 67. Furthermore, the Moving Average Convergence Divergence (MACD) histogram remains positive, pointing to strong but extended momentum.
On the downside, immediate support emerges at the 200-day EMA around $0.38, followed by the Bollinger upper band near $0.36, before a cluster formed by the 50-day and 100-day EMA around $0.34 and the Bollinger middle band at $0.33. A deeper move-up will likely expose a downtrend break level at $0.31 and then the Bollinger lower band near $0.29, where buyers may attempt to re-establish a broader bullish structure.
(The technical analysis for this story was written with the help of AI tools. know more.)
Bitcoin, Altcoins, Stablecoins FAQ
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to be used as money. This form of payment cannot be controlled by any one person, group or entity, which eliminates the need for third party involvement during financial transactions.
Altcoins are any cryptocurrency other than Bitcoin, but some people also consider Ethereum a non-altcoin because of the forking of these two cryptocurrencies. If this is true, then Litecoin is the first altcoin built from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, their value backed by the reserve of the asset it represents. To achieve this, the value of a stablecoin is pegged to a commodity or financial instrument, such as the US dollar (USD), whose supply or demand is controlled by an algorithm. The main goal of stablecoins is to provide on/off-ramps for investors looking to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value as cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of the market capitalization of Bitcoin to the total market capitalization of all cryptocurrencies. This provides a clear picture of the interest in Bitcoin among investors. High BTC dominance typically occurs before and during bullish rallies, with investors resorting to investing in relatively stable and high market capitalization cryptocurrencies like Bitcoin. A decline in BTC dominance usually means that investors are moving their capital and/or profits into altcoins in search of higher returns, which usually triggers the explosion of altcoin rallies.
