when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/explosive-growth-in-ondo-holders-as-price-skyrockets" rel="noopener noreferrer nofollow">Explosive Growth in ONDO Holders as Price Skyrockets</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/dragonfly-makes-strategic-investment-in-coinbase-indicating-positive-developments-in-the-crypto-market" rel="noopener noreferrer nofollow">cryptocurrency</a> ONDO has seen an exceptional surge in value, increasing from $0.40 to $0.90, which has resulted in a doubling of its holder base within a one-month span. The market’s response to this increase has led to a significant Market Value to Realized Value (MVRV) Z Score of 3.63, potentially signaling an overvaluation of the digital asset.</p>
<h2 id="surge-in-investor-interest">Surge in Investor Interest</h2>
<p style="text-align: justify">From the onset of 2024, ONDO has experienced a consistent addition of 100 to 300 new investors daily, culminating in a holder count of 4,872 by February 26th. This steady influx, however, accelerated by the last week of March, with the total number of holders surpassing 10,000, thus more than doubling the investor base. Coinciding with this, the price of ONDO rocketed from $0.40 to $0.95 between March 19th and March 25th, representing a significant uptick of 137.5%.</p>
<p style="text-align: justify">The continued growth could further solidify investors’ confidence in ONDO’s potential and hint at an even steeper price trajectory in the near future. The surge has not only bolstered investor interest but also raised ONDO’s MVRV Ratio, with a notable rise from 1.39 to 3.57 in its Z Score.</p>
<h2 id="market-valuation-analysis">Market Valuation Analysis</h2>
<p style="text-align: justify">The MVRV Z Score is utilized to appraise the fairness of a token’s price by comparing the market cap to its realized value and establishing the average price paid by current holders. An unusual deviation in the Z Score can point to periods when a token’s valuation is exceptionally high or low. Despite bullish indicators from the ONDO Exponential Moving Average (EMA) lines, the recent spike in price and elevated MVRV Z Score could lead to a potential market correction.</p>
<p style="text-align: justify">Experts within the cryptocurrency field have suggested that ONDO may undergo a price correction to around $0.84 before it can aim for new highs. Nevertheless, should the bullish momentum persist, the asset might break past the latest peak of $0.95, potentially reaching the $1 mark.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/explosive-growth-in-ondo-holders-as-price-skyrockets" rel="noopener noreferrer nofollow">Explosive Growth in ONDO Holders as Price Skyrockets</a></h5>

Explosive Growth in ONDO Holders as Price Skyrockets

Table of Contents

BH NEWS

Другие статьи, опубликованные 25 мар. 2024 г.

Dogecoin surpasses Cardano as competition with new Telegram bot token heats up

Shiba Inu Rises More Than 5% In 24 hours

Tron’s Bitcoin layer-2 plan could see ’wrapped’ USDT flow into Bitcoin

From Ronin to FTX: Revisiting the Six Largest Crypto Heists in Recent History

Central Bank Rate Cut Sparks Surge in Bitcoin and Ethereum Prices

Ripple CTO addresses technical glitch on XRPL, issues warning

Join our free newsletter for daily crypto updates!