Author: Monicah W

News

MOVE Crashes 16% After Coinbase Delisting – Here’s What Happened

Monicah W

Coinbase announced that it is delisting MOVE, which subsequently plunged over 16%. The exchange did not describe any specific reasoning for this action, leading community speculation to flourish.

New evidence alleges that Movement Labs was directly or indirectly involved in a market maker dumping 66 million MOVE tokens. Coinbase may have lost confidence in the project between those rumors and a delayed airdrop.

Why Did Coinbase Delist MOVE?

Although Coinbase has the well-documented ability to boost certain cryptoassets by listing them, the reverse is apparently also true. The exchange will suspend all MOVE trading in exactly two weeks, immediately causing the asset to plummet.

In addition to this 16% price drop, MOVE’s daily trading volume surged 130%. This suggests that MOVE holders are selling their assets after Coinbase’s delisting announcement.

MOVE Price Crashes After Coinbase Delisting
MOVE Price Crashes After Coinbase Delisting. Source: TradingView

This is a serious blow to Movement Network’s credibility and reputation. The project showed significant potential and even outperformed Bitcoin and Ethereum during the Q1 2025 cycle. It also raised $100 million in VC funding earlier this year, backed by notable investors.

However, Coinbase’s delisting is not unfounded. Earlier today, Movement Labs announced that a planned airdrop was being delayed, helping spark frustration. That may have been the final straw for Coinbase, on top of pre-existing problems.

Specifically, Movement Labs claimed it would investigate an instance of potential fraud in mid-March. A market maker dumped 66 million MOVE tokens, triggering a sharp price drop.

New evidence has come to light, leading users to allege that Movement Labs was directly or indirectly complicit in these dealings. The company allegedly loaned 50% of MOVE’s supply to investment platform Web3Port, which proceeded to dump a large volume of tokens.

Based on these incidents, the community fears a repeat of MANTRA’s historic OM crash. Meanwhile, Movement Labs is backed by the Trump Family’s World Liberty Financial. The DeFi project holds more than 7 million MOVE tokens.

The post MOVE Crashes 16% After Coinbase Delisting – Here’s What Happened appeared first on BeInCrypto.

News

Tether Acquired $65 Billion in US Treasury Bonds in Q1 2025

Monicah W

Tether just released its Q1 2025 Attestation Report, describing a massive increase in US Treasury bond holdings. The firm purchased over $65 billion in these assets between January 1 and the end of the quarter.

Tether’s report also repeatedly mentioned a potential role in global US dollar flows, calling USDT “the leading digital representation” of this currency. The firm’s treasury holdings now represent more than 80% of its total assets.

Why is Tether Buying US Treasury Bonds?

When Tether, the world’s largest stablecoin issuer, publicized its Q4 2024 Attestation Report, it reported $33 billion in held US Treasury bonds.

An entire quarter has since passed, and the firm’s newest report details a massive pattern of acquisitions. By March 31, it held $98.5 billion in Treasury bonds, with another $21.3 billion in indirect exposure.

Tether's Indirect Treasury Exposure
Tether’s Indirect Treasury Exposure. Source: Tether

The company’s report further claims that its total assets amount to $149.2 billion. In other words, more than 80% of Tether’s assets are directly and indirectly held in US Treasury bonds.

Comparatively, it only holds $7 billion in BTC, which the firm has consistently acquired in the past.

Rumors suggested that the firm would de-prioritize Bitcoin to better align with US stablecoin regulations, and this event may be taking place. If proposed legislation becomes law, the US will require Tether to hold most of its reserve assets in Treasury bonds. Thanks to these acquisitions, that requirement has been fulfilled.

Tether has been reorienting its business in a few key ways to facilitate compliance with US regulations. In late March, President Trump suggested that stablecoins could support dollar dominance, and Tether seems interested in this goal.

The report repeatedly mentioned concepts like “Tether’s growing role in distributing dollar-denominated liquidity” and “supporting the global relevance of the US dollar in a rapidly evolving economy.”

The firm described USDT as “the leading digital representation of the US dollar,” and its CEO, Paolo Ardoino, echoed these sentiments:

“Our mission is clear: to responsibly and compliantly power the digital economy and strengthen the role of the US dollar on the global stage,” he claimed.

If Tether wants to take on this transformative role, its massive US Treasury holdings will substantially help that task. Its holdings are vastly larger than most governments’, to the extent that it could move the global treasury market.

Overall, these purchases will likely drive Tether’s substantial business ventures in the US market soon.

The post Tether Acquired $65 Billion in US Treasury Bonds in Q1 2025 appeared first on BeInCrypto.

News

What To Expect From Stellar (XLM) In May 2025

Monicah W

Stellar (XLM) enters May 2025 in a fragile position, underperforming Bitcoin and other altcoins both in price action and trading volume. Despite following BTC’s general trajectory, XLM has failed to capture the same upside, while still participating fully in market corrections.

Volume has also collapsed from early-year highs, highlighting a drop in market interest and liquidity. With price sitting just above a key support and a potential death cross on the horizon, Stellar faces a critical month that could define its near-term trend.

XLM Lags Behind Bitcoin With Asymmetric Volatility

Over the past month, Stellar has been closely following Bitcoin’s trajectory but with significantly weaker upside performance.

While Bitcoin has climbed over 14%, XLM has managed only a 2.8% gain, falling behind BTC and other altcoins like Hedera, which have shown stronger bullish reactions.

This muted upside signals a lack of conviction among traders and raises questions about Stellar’s momentum in the current market cycle.

XLM and BTC.
XLM and BTC. Source: Messari.

What’s more concerning is that XLM is still behaving like a typical altcoin during corrections—dropping harder than Bitcoin when the market pulls back.

Normally, altcoins are expected to amplify Bitcoin’s movements both ways: outperforming during rallies and underperforming in downturns. Stellar, however, only shows downside volatility without the upside benefit.

This imbalance makes the token vulnerable, signaling weaker market confidence and potentially limiting its appeal in a risk-on environment.

Stellar Trading Volume Collapses From Early 2025 Highs

Stellar has seen a noticeable drop in trading volume over the last 30 days, with activity peaking at just $311 million on April 23.

This is well below previous highs—$480 million on April 7 and $930 million on March 3—showing a clear downtrend in market participation.

Declining volume often signals weakening interest from traders and can limit price momentum, especially in a token that already underperforms on the upside.

XLM Price and Volume.
XLM Price and Volume. Source: Santiment.

More importantly, XLM’s current volume levels pale compared to earlier this year’s activity.

Daily volume frequently surpassed $1 billion in January and February, even reaching above $2 billion. That level of liquidity helped fuel stronger price action and volatility.

With current figures sitting at a fraction of those peaks, Stellar faces a market backdrop that lacks energy and conviction—potentially capping any meaningful rallies in the near term.

Stellar at Make-or-Break Support as Death Cross Looms

Stellar is hovering just above a key support level at $0.26, a zone that could determine its next major move. The EMA lines are tightening, and a potential death cross may be forming where short-term EMAs cross below long-term ones.

If the $0.26 support is lost and the death cross confirms, XLM could slide further toward $0.239 and even $0.20, signaling a deeper bearish shift.

XLM Price Analysis.
XLM Price Analysis. Source: TradingView.

Conversely, bullish momentum could return if Stellar price manages to bounce and break through the $0.297 resistance.

Moving past that level could open the door to $0.349 and $0.375, with further upside potential toward $0.44 and even $0.495 if volume and sentiment improve.

The post What To Expect From Stellar (XLM) In May 2025 appeared first on BeInCrypto.

News

3 Altcoins that are Overbought in the First Week of May 2025

Monicah W

Altcoins like AIXBT, Echelon Prime (PRIME), and Balancer (BAL) have posted massive gains heading into the first week of May, but key technical indicators now suggest all three may be overbought. AIXBT is up nearly 95% on the week with strong price momentum, yet it still lags the broader market with a low relative strength.

PRIME and BAL have both surged over 30% in the last 24 hours, but each shows extreme RSI readings above 70 while also underperforming in relative strength—raising red flags about sustainability. While the rallies have drawn short-term attention, traders should be cautious as these tokens show signs of overheating without broader market confirmation.

AIXBT

AIXBT, one of the most recognized crypto AI agents tokens, has emerged as a top performer, surging nearly 40% in the last 24 hours and over 95% in the past seven days.

This explosive rally places AIXBT among the best-performing altcoins of the week, drawing increased attention from traders and speculators.

However, technical indicators suggest the token may be entering overheated territory, warranting caution in the short term.

AIXBT RSI and RS.
AIXBT RSI and RS. Source: TradingView.

The Relative Strength Index (RSI) is a momentum indicator that moves from 0 to 100. Values above 70 mean the asset is overbought and may pull back. Values below 30 suggest it’s oversold and could rebound.

Relative Strength (RS) compares a token’s performance to a benchmark. RS above 1.0 means outperformance. Below 1.0 means underperformance. AIXBT has an RSI of 73.92 and an RS of 0.69. That technically makes it overbought, but still lagging behind the broader market.

This shows that AIXBT’s rally has been sharp, but not strong relative to other assets. The surge may be driven more by short-term speculation than sustained market strength.

Echelon Prime (PRIME)

Echelon Prime has surged 33% in the last 24 hours, making it one of the day’s top-performing altcoins.

Its trading volume has exploded by 276%, reaching nearly $16 million—an indication of heightened trader interest and momentum.

However, while the price action is impressive, technical indicators are flashing caution in the short term.

PRIME RSI and RS.
PRIME RSI and RS. Source: TradingView.

PRIME’s Relative Strength Index (RSI) currently sits at 74, firmly in overbought territory. At the same time, its Relative Strength (RS) is just 0.124.

This combination—high RSI and low RS—suggests the recent rally may be unsustainable.

While there’s strong short-term demand, the token lacks confirmation from relative market strength, making PRIME vulnerable to a sharp correction if buying pressure fades.

Balancer (BAL)

Balancer has jumped over 41% in the last 24 hours, supported by a sharp rise in trading activity, with volume climbing to $53 million.

The price surge places BAL among the strongest-performing altcoins in the market. However, technical indicators suggest the rally may be overextended despite the breakout.

BAL RSI and RS.
BAL RSI and RS. Source: TradingView.

BAL’s Relative Strength Index (RSI) is at 79.33, signaling extreme overbought conditions. Meanwhile, its Relative Strength (RS) stands at just 0.27, indicating it is still underperforming relative to the broader market.

This combination—very high RSI and low RS—often points to an unsustainable move driven more by hype than underlying strength.

Without relative outperformance to support the momentum, BAL could be at risk of a near-term pullback once buying pressure cools.

The post 3 Altcoins that are Overbought in the First Week of May 2025 appeared first on BeInCrypto.

News

MicroStrategy Reports $4.2 Billion Net Loss in Q1 Despite a 13% Bitcoin Yield

Monicah W

Strategy recently posted its Q1 2025 earnings report, showing over $4.2 billion in net losses despite gains on its Bitcoin holdings. Shortly afterward, the firm declared its intention to sell $84 billion in new offerings.

Shareholders’ responses are mixed, with some fearful of failing fundamentals and their own stocks being diluted. Still, this audacious plan has its supporters, with Bitcoin’s price on the rise.

Strategy’s Biggest Bitcoin Buy

Strategy (formerly MicroStrategy) hasn’t shown much interest in changing its plan for systematic Bitcoin acquisition. Its latest earnings report takes great care to show its returns on this investment: It holds 553,555 BTC, at an average cost of $68,459 each, and has gained $5.8 billion from Bitcoin.

Despite this, however, the company lost over $4.2 billion overall. The firm’s net losses are primarily due to a $5.9 billion unrealized loss on digital assets, reflecting the volatile nature of cryptocurrency investments.

Strategy’s unrealized losses have drawn concern from the community and speculation that the company might have to sell its Bitcoin. In early April, these losses possibly contributed to a pause in its BTC purchases.

Initially, the report claimed that Strategy was offering $21 billion in new stock sales to buy more Bitcoin. Soon after, however, Michael Saylor claimed that his firm was setting a much more audacious goal:

“Strategy… doubles capital plan to $42 billion equity and $42 billion fixed income to purchase bitcoin, and increases BTC Yield target from 15% to 25% and BTC $ Gain target from $10 billion to $15 billion for 2025,” Saylor said.

The community has been conflicted about this announcement. Two months ago, Strategy’s entire Bitcoin holdings amounted to $42 billion, and its largest stock offering in 2025 was $2 billion.

Compared to these figures, $84 billion in new offerings looks completely infeasible for several reasons. The main concern isn’t even finding enough buyers.

In other words, Strategy’s Q1 earnings report clearly shows that the firm has this reserve of preferred stock it could use to buy Bitcoin.

However, the company can’t execute these sales because of its steep losses and lack of cash flow. Offering these new shares instead would allow Saylor to gain fresh liquidity, but this would dilute existing shareholders’ holdings.

Still, some shareholders remain bullish about Strategy’s intention to buy more Bitcoin. Ultimately, the company remains a key pillar for the market’s confidence in BTC. If its investors start heading for the door, it could have adverse implications on the token’s price.

The post MicroStrategy Reports $4.2 Billion Net Loss in Q1 Despite a 13% Bitcoin Yield appeared first on BeInCrypto.

MOVE Token Price Crashes Over 15% as Coinbase Makes Key Announcement

Monicah W

MOVE Token Price Crashes Over 15% as Coinbase Makes Key Announcement

Movement (MOVE) token price dropped by over 15% after Coinbase’s announcement that it would suspend trading of the token on May 15, 2025. This announcement created panic in the market, causing a significant price fluctuation. The token’s decline is also linked to recent allegations of market manipulation, adding further uncertainty for investors.

Coinbase to Suspend Trading for MOVE Token

Crypto exchange Coinbase has revealed that it would suspend trading for the MOVE token starting on May 15. While the exchange didn’t specify the exact reasons for the decision, it pointed to its ongoing review process to ensure that listed assets meet its standards.

As a result, Coinbase moved MOVE’s order books to limit-only mode, meaning users could place or cancel limit orders, but no new trades could occur. The suspension will affect trading on Coinbase.com (Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime.

The decision came in the background of the growing concerns related to the activity of the MOVE token on the market. The allegations of market manipulation surrounding the token have drawn scrutiny over its stability. In particular, World Liberty Financial, a Donald Trump linked company, has piqued greater scrutiny of the legitimacy of its token amid its recent ETH sell-off. Considering the uncertainty surrounding the token’s future after Coinbase’s actions and fear or further delistings on other exchanges, market participants are concerned.

MOVE Price Drop and Investor Reactions

After the announcement, the price of the MOVE token dropped more than 15%. According to the latest data, the token’s price is $0.224969, a 50% decline in the last month and 85% from its ATH of $1.45 in December 2024. This MOVE price decline shook investor confidence, prompting some traders to sell off their holdings.

The move by Coinbase is the major factor contributing to the price crash, especially given the ongoing concerns over MOVE’s market manipulation allegations.

This volatile period saw massive interest in the token resulting in a trading volume in MOVE that rose to approximately $374 million. Moreover, MOVE’s open interest in derivatives markets was also up 2.91% at $105.5 million, further indicating that traders were actively engaging with the token in derivative markets.

Allegations of Market Manipulation and Internal Investigations

Recently, MOVE has found itself embroiled in controversy over allegations it engaged in MOVE price manipulation ahead of its launch. According to investigation, the developer behind the MOVE token, Movement Labs entered into a partnership with Web3Port and a third party intermediary, Rentech. According to the arrangement, Rentech would manage a large percentage of the circulating supply of MOVE, helping raise prices shortly after its release.

The case also includes World Liberty Financial, another Movement Labs backer, which adds to the complexity. Moreover, in January, Movement, the network behind the token, discussed blockchain use with Elon Musk’s Department of Government Efficiency (DOGE) team, just 8 days after Trump’s swearing-in.

However, Movement Labs internal communications suggested the company itself lacked knowledge of the full extent of market making agreements with Rentech and Web3Port. Movement Labs is now investigating these agreements to see if it was misled in the process.

The internal probe may clear up things that will hopefully restore much of the lost trust in MOVE. If Movement Labs finds it was misled, it may recover from the controversy. However, market performance has already started to suffer the damage to the token’s reputation as we see in the suspension plans and MOVE price dip.

The post MOVE Token Price Crashes Over 15% as Coinbase Makes Key Announcement appeared first on CoinGape.

Michael Saylor’s MicroStrategy To Raise $84 Billion For Bitcoin Purchases

Monicah W

Michael Saylor's MicroStrategy To Raise $84 Billion For Bitcoin Purchases

Michael Saylor and MicroStrategy are again setting the standard for other companies to follow in terms of adopting a Bitcoin Strategy. Saylor recently revealed the company’s plans to raise up to $84 billion to buy more Bitcoin.

MicroStrategy To Raise $84 Billion To Buy More BTC

In an X post, Michael Saylor announced that MicroStrategy has doubled its capital plan to $42 billion in equity and $42 billion in fixed income to purchase more Bitcoin. The company has also announced a BTC yield of 13.7% and a BTC gain of $5.8 billion year-to-date (YTD). Meanwhile, it plans to increase its BTC yield target from 15% to 25% and BTC gain target from $10 billion to $15 billion for 2025.

The company, now known as Strategy, currently holds 553,555 BTC, which it acquired at a total cost of $37.90 billion and at an average price of $68,459 per bitcoin. As Coingape reported, Strategy acquired 15,355 Bitcoin for $1.42 billion last week at an average price of $92,737 per BTC.

MicroStrategy ramped up its Bitcoin Strategy towards the end of last year, regularly purchasing BTC every week from November to the end of the year. The firm has continued the buying streak this year, having purchased BTC almost every week since the start of 2025.

As a result, Saylor and his company currently hold over 2% of Bitcoin’s total circulating supply and are the public company with the largest BTC holdings. BlackRock is the only other institutional investor that ranks ahead of Strategy. The world’s largest asset manager currently holds around 570,000 BTC in assets under management (AuM).

As part of its $84 billion capital raise, Strategy has announced a new $21 billion at-the-market (ATM) common stock equity offering. The company has already raised about $6.6 billion through the issuance and sale of its Class A common stock.

 

The post Michael Saylor’s MicroStrategy To Raise $84 Billion For Bitcoin Purchases appeared first on CoinGape.

Kraken Q1 Performance Metrics Soar as IPO Hype Grows

Monicah W

Kraken Q1 Performance Metrics Soar as IPO Hype Grows

American crypto exchange platform Kraken has revealed its first Quarter (Q1) performance report as it recorded another big breakthrough start to the year. According to the update, the firm generated a total of $472 million in gross revenue, and its adjusted EBITDA is $187 million. As the firm noted, Kraken said it had a strong topline performance amid disciplined executions.

Kraken Q1 Highlights

According to the company’s update, Q1 revenue marked a 19% year-over-year increase. The crypto exchange said its performance comes despite the slowdown in trading activity after its breakout record in Q4, 2024.

Despite the growth quoted, revenue declined by 7% for the quarter. However, the overall crypto exchange trading volume jumped 29% year over year. Kraken also saw an increase in funded accounts by 26% year over year amid massive adoption.

The outpacing of the broader crypto market benchmarks complemented these performance metrics. As the American trading platform noted, this boosts its overall market share and deeper client engagement trends.

Over the past few months, the exchange has expanded into new markets to boost its overall presence. As reported, it secured restricted dealer registration in Canada to expand its North American reach.

Ambitious Crypto Exchange M&A Record

To further boost its market relevance, Kraken completed the acquisition of NinjaTrader, a cloud, multi-tech trading platform. As the bigger exchange noted in its financial update, NinjaTrader’s infrastructure and community align with its vision.

Through NinjaTrader, Kraken can now expand its reach to serve institutional clients in the mainstream TradFi market. Beyond NinjaTrader, the trading platform has robust activity, with platforms like PumpFun consistently liquidating their Solana stash through the trading platform.

The exchange also launched Kraken Pay, a new consumer app and staking product to offer users new value. Despite the visibility of core rivals like Coinbase and Binance, Kraken has maintained an impressive stance as a top market leader.

The Incoming Kraken IPO

For a few years now, the idea of a potential Kraken public listing through an Initial Public Offering (IPO) has been a possibility. Although details were not disclosed in the current financial report, the exchange is considered a forerunner among top crypto firms and is billed for public listing this year.

Kraken’s businesses and operations do not currently face regulatory hurdles. The platform’s staking lawsuit has been closed under the new US Securities and Exchange Commission (SEC) leadership.

With this, the platform remains on the radar amid growing clamor for a new crypto regulation landscape.

The post Kraken Q1 Performance Metrics Soar as IPO Hype Grows appeared first on CoinGape.

Mango Markets Hacker Avi Eisenberg Sentenced to 52 Months in Prison

Monicah W

Mango Markets Hacker Avi Eisenberg Sentenced to 52 Months in Prison

Avraham “Avi” Eisenberg, the individual responsible for the $110 million exploit of the decentralized finance (DeFi) platform Mango Markets in 2022, has been sentenced to 52 months in prison. The sentencing was for his guilty plea to charges related to the possession of child sexual abuse material (CSAM).

This conviction comes despite his earlier conviction on crypto theft charges. A federal judge, however, has indicated that a retrial for the Mango Markets-related charges may be considered in the future.

Mango Markets Hacker Sentenced to 52 months

Avraham “Avi” Eisenberg sentence comes after a year-long legal battle concerning his role in the Mango Markets attack. Although the $110 million crypto theft was a big deal, it was the CSAM charges that ultimately drove his sentence. Amid this crisis, recently, an elderly victim in the US also fell for a Bitcoin theft scam worth around $330M.

In 2024, Eisenberg pleaded guilty to possession of more than 1,200 images and videos of child sexual abuse. 

As well, the content included depictions of minors, including infants. The judge said these offenses were serious enough to require a prison sentence to deter the distribution of such material. During the sentencing, U.S. District Judge Arun Subramanian noted Eisenberg’s efforts to come to terms with the pain caused by his actions.

Nevertheless, the judge argued that prison time was necessary. After his release, Eisenberg is also expected to serve five years of probation. He will also have to install monitoring software on his electronic devices and follow outpatient drug treatment programs as part of his probation condition.

Criminal History and Legal Arguments

Previously, Avraham “Avi” Eisenberg’s legal team argued the fraud charges concerning Mango Market exploit warranted a retrial. They argued the case should not be tried in the Southern District of New York.

The defense also questioned whether the MNGO Perpetual product that Eisenberg tampered with was categorized as the government maintained. However, the arguments did not matter to the court, which had already convicted him on wire fraud, commodities fraud and commodities manipulation for the 2022 hack of Mango Markets.

In a courtroom hearing in Manhattan, Judge Subramanian revealed that there is a “non-zero chance” of granting a motion for a retrial. However, the focus of the current sentencing was primarily on the CSAM charges. Eisenberg’s actions in the crypto theft, while serious, have not yet led to final sentencing.

Potential Retrial on Crypto Theft Charges

Despite his CSAM sentencing Eisenberg continues to receive legal support for his Mango Markets theft conviction appeal. Eisenberg’s defense argues that authorities failed to demonstrate their case sufficiently especially in establishing his deliberate actions.

A defense statement argues that Eisenberg followed Mango Markets protocol rules without personal financial gain and maintained control over the market. Their legal team demands either a dismissal of fraud charges or a new court hearing for relief.

The prosecution asserts Eisenberg intentionally participated in fraudulent schemes despite being fully aware of his criminal activities. The lawsuit Avraham “Avi” Eisenberg filed against another party for market manipulation occurred before his attack on Mango Markets. After his name became linked to the exploit attributing him with responsibility for the breach Eisenberg left the United States to settle in Israel. The government interprets his actions as indicating that Eisenberg recognized his activities were criminal.

The post Mango Markets Hacker Avi Eisenberg Sentenced to 52 Months in Prison appeared first on CoinGape.

ONDO Price Eyes Breakout as Ondo Finance Expands To Solana

Monicah W

ONDO Price Eyes Breakout as Ondo Finance Expands To Solana

The push for Real-World Asset (RWA) tokenization on the Solana blockchain is growing as Ondo Finance has expanded to the network. As announced on X, the institutional-grade RWA outfit said it is expanding its bridging solution to Solana. Based on historical precedent, this Bridge integration has a massive positive upside for SOL and ONDO, the native assets of both protocols.

The Ondo Finance and Solana RWA Alliance

According to the announcement, Ondo Decentralized Verifier Network (DVN) has expanded to Solana. With it, the Proof-of-Stake chain can link to other EVM-compatible chains like Ethereum, Arbitrum, and Mantle.

As it noted, through the bridge deployment, USDY holders can move assets across the largest crypto platforms to drive a new value system. With more than $170 million worth of USDY on Solana per Total Value Locked on the tokenization platform, users can now do more with this integration.

“This new bridge unlocks frictionless RWA mobility, empowering users to move USDY fluidly without introducing extra counterparty risks or requiring inefficient capital reserves,” the announcement reads, noting that “Each USDY transfer between chains is maximally capital efficient, requiring no additional external capital to fill transfers, as would be required via third-party bridge environments.”

Over the past few months, Ondo Finance has collaborated with World Liberty Financial in a bid to drive its tokenization agenda. For its strides, it has managed to place its token ONDO in the spotlight.

Implications for Solana and ONDO Price

With an active product in high demand by institutional investors, the ONDO price may gain an additional boost over time. Solana is an established blockchain protocol with millions of users. The access to liquidity, all of which may eventually flow into USDY and Ondo Finance-backed solutions, can fuel a big rally.

At the time of writing, the price of ONDO has rebounded, up 1.05% in the past 24 hours to $0.9215. Just like ONDO, Solana has also staged a breakout, up 2.20% in 24 hours to $150.55.

ONDO has other primary growth triggers, like the recent Binance listing, that can also help boost its price outlook. With growing adoption and exchange listings, the token’s accessibility is growing, setting the underlying coin up for a possible breakout.

Meanwhile, there is a growing quest for RWA tokenization in both the Decentralized and Traditional Finance ecosystems. With its recent technology, Ondo Finance may soon be positioned to take a significant market share.

The post ONDO Price Eyes Breakout as Ondo Finance Expands To Solana appeared first on CoinGape.