ONDO Price Surges 17% After SEC Task Force Meeting: What’s Next?

Monicah W

Ondo Finance (ONDO) Hit New All-Time High What’s Behind the Explosive Price Rally

The post ONDO Price Surges 17% After SEC Task Force Meeting: What’s Next? appeared first on Coinpedia Fintech News

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.

Related Posts

Bittensor (TAO) Becomes the Next Pick in the Wave of Public Crypto Treasuries

As publicly listed companies increasingly consider accumulating digital assets as part of their financial strategies, Bittensor (TAO) is emerging as a strong contender alongside options like Bitcoin, Ethereum, Solana, and XRP.

Experts and recent moves by companies such as Oblong and Synaptogenix reinforce the belief that TAO could become a store of value.

Which Public Companies Have Chosen Bittensor (TAO) for Strategic Reserves?

Recently, Oblong, a Nasdaq-listed IT solutions provider, announced its plan to raise $7.5 million through a private stock offering. The funds will support its digital asset and AI strategy, which is based on Bittensor.

According to a press release on June 6, the company will primarily use the money to purchase TAO tokens and to develop the decentralized AI market, including Subnet 0. This strategy aims to generate yield from holding TAO. After the announcement, Oblong’s stock jumped 12%, with nearly 2 million shares sold at $3.77 each.

In addition, Synaptogenix, another Nasdaq-listed firm, revealed its plan to initially acquire $10 million worth of TAO, more than double the company’s current market capitalization.

“Based on our initial review, we believe the fixed market supply of 21 million TAO tokens alongside rapidly increasing global demand for AI development and adaptation makes TAO a compelling cryptocurrency,” Joshua Silverman, Chairman of the Board, said.

Synaptogenix has set a long-term goal to increase its TAO holdings to $100 million. The effort is led by well-known crypto and AI expert James Altucher.

Altucher emphasized that this strategy focuses not just on potential profits from staking and token price growth. It also aims to rebrand the company’s name and stock ticker to reflect its TAO-based digital asset strategy. This demonstrates Synaptogenix’s strong belief in Bittensor’s long-term potential.

Oblong and Synaptogenix’s moves come as other companies are choosing Solana (SOL), XRP, or Ethereum as strategic reserves.

Analyst Predicts TAO Could Become a Top 3 Altcoin

Many industry experts also share a positive outlook on TAO. Their confidence is driven by the fact that Bittensor operates a token economy with a fixed supply, similar to Bitcoin, and incentivizes participation and contributions to the network.

A recent report by BeInCrypto showed that the number of subnets on TAO has reached a new all-time high. Institutional investors are also beginning to eye TAO for its staking returns.

“TAO is the only project that has the necessary ingredients to get to the level of BTC. Top 3 is inevitable,” hedge fund manager Pedro Teixeira, predicted.

According to data from CoinMarketCap, TAO is currently the top altcoin among AI tokens, with a market cap of over $3.8 billion. It also holds a leading position in Grayscale’s AI Sector. Meanwhile, AI tokens continue to be one of the most prominent themes in the market today.

Bittensor (TAO) Price Performance. Source: BeInCrypto.
Bittensor (TAO) Price Performance. Source: BeInCrypto.

At the time of writing, TAO is priced at $434, up 25% since the beginning of the month. However, to overtake XRP and become a top 3 altcoin—as Pedro Teixeira predicts—TAO’s price would need to increase fivefold.

That said, this expectation may face headwinds. Bitcoin dominance is on the rise again in June, and altcoin season has yet to arrive. Furthermore, some experts warn of risks if the trend of public crypto vehicles spreads widely to altcoins beyond Bitcoin.

The post Bittensor (TAO) Becomes the Next Pick in the Wave of Public Crypto Treasuries appeared first on BeInCrypto.

Can Solana Price Hit $200 As Galaxy Digital Replaces ETH With SOL?

Can Solana Price Hit $200 As Galaxy Digital Replaces ETH With SOL?

Solana price seems to be gearing up for a recovery after crypto investment firm Galaxy Digital sold Ethereum and purchased $98M worth of SOL. This purchase has sparked optimism that the Solana price can rally past $200, but a bearish formation in the SOL/BTC chart suggests that bearish headwinds are still at play. 

Galaxy Digital Swaps ETH With SOL – Can Solana Price Hit $200? 

According to a recent X post by Lookonchain, on-chain data shows that Galaxy Digital is selling Ethereum while accumulating Solana, suggesting that a strong price move is on the horizon. In the last two weeks, this entity has sent $105M ETH to Binance and withdrawn $98M SOL from the exchange. 

Can Solana Price Hit $200 As Galaxy Digital Replaces ETH With SOL?
Lookonchain

This activity shows that the crypto investment firm is bearish on Ethereum, while being bullish on the SOL value today despite the altcoin’s recent struggles to bounce past the resistance level of $140. The optimism has investors wondering whether the Solana price may hit $200 soon as more whales accumulate. 

Data from Solscan shows that a newly created Solana wallet has withdrawn 44,116 SOL valued at more than $6M and staked the tokens. As SOL staking activity picks up, it reduces the altcoin’s supply, which then bodes well for the price if demand also rises. 

Meanwhile, Santiment revealed that the level of positive sentiment towards SOL has increased significantly in the last two days, which is also a sign that many traders are bullish about the altcoin. This coincides with an X post by analyst CryptoCurb who noted that a Solana cycle is looming. 

Can Solana Price Hit $200 As Galaxy Digital Replaces ETH With SOL?
Solana Positive Sentiment

As institutions accumulate when the level of SOL staking is high and the market sentiment is highly positive, it signals a bullish Solana price prediction and that the token might soon surge past $200. However, there are several obstacles that SOL needs to clear before making such an upswing. 

Analyst Identifies Bearish Pattern on SOL/BTC Chart 

Despite the bullish on-chain data, Solana price seems to be underperforming relative to Bitcoin, which recently surged to a three-week high above $88,000. Bitcoin trader Tuur Demeester has observed that SOL/BTC has lost support at around $0.0020, suggesting that SOL is poised to continue underperforming against BTC. 

The analyst also observed that the last time the SOL/BTC trading pair lost critical support, it plunged by 82% within one year. If history rhymes and this trading pair falls by 82% from the current support, it might plunge to a record low of 0.00036. 

Can Solana Price Hit $200 As Galaxy Digital Replaces ETH With SOL?
SOL/BTC

In conclusion, Solana might clear key levels as accumulation by institutions, a spike in positive sentiment, and staking activity indicate that a rally past $200 is looming. Despite these bullish metrics, the SOL/BTC pair is dropping after losing a critical support level, which suggests that Solana price might continue to underperform against Bitcoin. 

The post Can Solana Price Hit $200 As Galaxy Digital Replaces ETH With SOL? appeared first on CoinGape.

Nearly 2 Million Crypto Tokens Collapsed in Q1 2025

A new report from CoinGecko claims that 2025 has been the worst year for dead crypto projects, with 1.8 million tokens collapsing in Q1 alone. This represents 49.7% of all crypto project failures from 2021 to 2025.

CoinGecko’s analysis focused on the concrete data, not establishing proof of the culprit. Still, it hypothesizes that market volatility under Trump’s Presidency is responsible for this extreme failure rate.

Why are So Many Tokens Dying Out?

The crypto industry is no stranger to failures. For example, a few years ago, NFTs were all the rage, but more than 95% of those assets are dead.

CoinGecko’s latest report shows that 2025 has been an exceptional year in this respect. Compared to 2024, there have been fewer token launches and many more crypto project failures in Q1 alone.

Dead Crypto Projects by Year
Dead Crypto Projects by Year. Source: CoinGecko

Data from CoinMarketCap shows that over 14.65 million different tokens are active right now, and the number has been rising steadily.

One year ago, the site only tracked 2.7 million. The biggest contributor to this growth has been Solana meme coins, as that blockchain’s ecosystem now accounts for more than 60% of all tokens.

Solana Meme Coins on the Rise
Solana Meme Coins on the Rise. Source: CoinMarketCap

However, this rapid increase in crypto projects has also led to more dead tokens. The meme coin sector is especially volatile, and the industry has faced collapse on several prior occasions.

Moreover, a glut of project launches can dilute meme coins’ overall market potential, sinking prominent projects due to quality fears and diminishing returns.

CoinGecko also revealed another disturbing fact: by its reckoning, most crypto projects active since 2021 are now dead. It claims that 52.7% of all such tokens have failed and that the failure rate is increasing.

New launches still outweigh collapses, but the trend does not look sustainable.

The report proposes a clear hypothesis for this behavior. CoinGecko believes it credible that Trump’s tariff threats and ensuing recession fears are responsible for these dead crypto projects. Meme coin launches rose dramatically after his election, and market turbulence is killing them off.

To be clear, CoinGecko’s study did not attempt to prove a cause; it just analyzed the failures themselves. Complicated factors may be creating all these dead crypto projects.

Still, it identified the trends, and the hard data is convincing in its own right. The meme coin industry, as currently defined, may not last at this rate.

The post Nearly 2 Million Crypto Tokens Collapsed in Q1 2025 appeared first on BeInCrypto.