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ONDO Soars 30% Amid Major Perpetual Listing

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Ondo Finance’s native token has garnered noteworthy investor attention amid the broader market’s recent recovery. Today, the coin’s price soared nearly 30%, sparking optimism further supported a major perpetual futures market listing. OKX, one of Asia’s leading crypto exchanges, revealed perpetual futures market listing for the RWA token today. This listing ignited significant optimism, paving the way for potential upside momentum ahead with new money inflow into the token’s ecosystem.

OKX Unveils Perpetual Futures Market Listing

According to an official release dated August 6, OKX is set to list the token on its perpetual futures market today at 10:30 AM UTC. The listing paves the way for platform users to partake in futures trading the asset with up to 50x leverage.

Further, the announcement also revealed that spot margin trading and ‘Simple Earn’ for the token will commence today at 10:00 AM UTC. These listings offer the RWA token enhanced user appeal on the platform, potentially injecting more money into its ecosystem.

As seen previously with numerous perpetual listings, such as Coinbase’s announcements on PEPE, MKR, and AAVE, among many others, market sentiments usually remain optimistic with such positive news. Meanwhile, it’s also worth noting that on-chain data by Arkham indicates BlackRock BUIDL fund’s massive $8.1M token transfer to Ondo Finance over the past day, adding a layer of intrigue to the price movements following the recent market crash.

Also Read: US Commences $50B Treasury Buyback, 50 bps Fed Rate Cut Odds Surge

ONDO Price Rallies

As of writing, the ONDO price gained 32.78% in the past 24 hours to reach $0.7134. Its 24-hour bottoms and peaks were registered as $0.5056 and $0.75, respectively. Today’s remarkable pump comes against the backdrop of the broader crypto market recovery alongside Japan’s Nikkei and Topix, both gaining 12%.

Further, the derivatives data offered by Coinglass underscored a strong uptrend for the token today. The RWA token‘s open interest surged 40.32% to $88.38 million, further accompanied by a derivatives volume upswing of 22.15% to $832.87 million. This data spotlighted increased investor enthusiasm surrounding the token.

Also, the RSI rested along the 26 mark, indicating that the asset is in the oversold territory. This further paves the way for potential buying from investors, sparking additional optimism on price movements.

Also Read: WazirX Discloses Important Update Amid Rising Customer Pressure

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Continues To Soar, Ripple’s XRP Bullish

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The crypto universe has concluded yet another week, primarily with riveting developments unfolding across the broader sector. Bitcoin (BTC) continues to pump, hitting a new ATH this week. Simultaneously, Ripple’s XRP garnered significant market attention, recording considerable gains. The broader market continues to leverage investor optimism post-U.S. elections that saw Donald Trump reelected as the president.

Here’s a brief collection of some of the top cryptocurrency market headlines that have significantly impacted investor sentiment over the past seven days.

BTC Hits New ATH Amid Bull Crypto Market

BTC price hit a new ATH near the $100K level this week, echoing a buzz across the broader sector. Notably, the flagship coin gained roughly 10% over the past week to hit an ATH of $99,655. Attributable to this bullish movement post-U.S. elections, Rich Dad Poor Dad author Robert Kiyosaki shared a bold prediction for the coin, anticipating its price to hit $13 million.

Simultaneously, the crypto also saw heightened institutional interest amid its bullish movement, underscoring the potential for further gains. Aligning with this heightened market interest, biopharmaceutical firm Hoth Therapeutics forged ahead with BTC buying plans, sparking additional optimism surrounding the crypto.

Meanwhile, Bitcoin miner MARA completed its $1 billion private offering this week, with some of the proceeds set to be used to buy more BTC. Overall, the flagship coin leveraged significant buying pressure this week, paving a bullish path for future movements.

Ripple’s XRP Steals Attention

On the other hand, XRP’s price witnessed gains worth 40% over the past week, cementing investor optimism amid a bullish digital asset sector. Notably, XRP whales accumulated nearly $526M worth of the token this week, indicating that the Ripple-backed coin could pump higher. Veteran trader Peter Brandt predicted amid this bullish movement that a parabolic rally for the crypto also lies ahead.

Further, Ripple CEO Brad Garlinghouse conveyed bullish sentiments on XRP and a possible end to the SEC lawsuit, primarily attributable to the newly appointed U.S. Treasury Secretary Scott Bessent. Simultaneously, the Ripple vs. SEC lawsuit saw the regulator and FINRA trying to bring “digital asset securities” claims. This mover comes against the backdrop of XRP’s rally to $1, with speculations of a looming $2 target on SEC Chair Garu Gensler’s exit.

Overall, these market updates have sparked significant investor enthusiasm over the crypto realm’s future action, with market watchers being optimistic.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US PCE, FOMC Minutes, & Crypto Expiry In Focus, Brace For Market Impact

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The crypto market enters a crucial week, with a flurry of key events like the US PCE inflation, FOMC Minutes, and Q3 GDP (first revision) data, among others, scheduled. In addition, the crypto market expiry has also fueled concerns among the market participants. For context, the investors are awaiting the impact of these events, as the broader market noted a massive rally in recent days.

US PCE Inflation & FOMC Minutes In Focus

The crypto market awaits a flurry of key economic events this week, including US PCE, FOMC, and others, with speculations soaring over the potential impact on asset prices. Notably, the week will start with Consumer confidence data and US FOMC for November scheduled on Tuesday, November 26. This would provide further cues on the Fed’s potential stance with their monetary policy plans, which usually affect the investors’ sentiment.

In addition, the minutes will also be closely watched, as recent reports showed that the US Federal Reserve said that it won’t be focusing on the 2% inflation target ahead. Besides, with Donald Trump’s election victory and Elon Musk’s focus on cutting Federal spending, investors will keep close track of the central bank’s minutes this week.

Following that, the market participants will await the US GDP figures for the third quarter. The first revision of the economic figure is scheduled for Wednesday, November 27, which will provide cues on the US economic health. This is also likely to impact the sentiment of the broader financial sector, let alone the crypto market.

Meanwhile, investors will be closely watching the inflation figures, especially after recent data indicates prices are soaring. The US PCE inflation, set for Wednesday, is expected to come in at 0.2% in October, unchanged from the previous month’s figure. On the other hand, the YoY PCE figure is expected to accelerate at 2.3%, as compared to 2.1% noted in the prior month.

In addition, the Core PCE inflation figures, which exclude the energy and food prices, are expected to show a 2.8% surge, up from the 2.7% noted in September. However, the monthly figure is expected to remain unchanged at 0.3%.

Will Crypto Expiry Impact The Ongoing Rally?

Bitcoin and other top altcoins have noted robust rallies recently, with optimism hovering in the market after Donald Trump’s election win. However, some market experts anticipate the upcoming crypto expiry to impact the market sentiment.

According to Deribit data, $9.13 billion in Bitcoin options is set to expire on November 29, with a put/call ratio of 0.80. The max pain price is $77,000. On the other hand, $1.24 billion Ethereum is also set to expire on the same date, with a put/call ratio of 0.77 and a max pain price of $2,800.

Crypto Expiry Bitcoin Expiry November 29Crypto Expiry Bitcoin Expiry November 29
Source: Deribit

This crypto expiry, worth more than $10 billion, is likely to spark volatility in the market, impacting investors’ sentiments. In addition, many top experts including Peter Brandt hint towards a potential Bitcoin selloff ahead, while remaining optimistic about the crypto’s long-term trajectory.

Having said that, the market will keep close track of the US PCE inflation figures, FOMC minutes, and other macroeconomic events. In addition, the crypto expiry is also expected to impact the traders’ sentiment, especially amid the ongoing rally in the market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Provided The Blueprint To Defeat Gary Gensler

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Stuart Alderoty, the Chief Legal Officer of Ripple Labs Inc has spotlighted the firm’s role in fighting the crypto crackdown initiated by Gary Gensler as Chairman of the US Securities and Exchange Commission (SEC). With a legal battle spanning approximately four years, Alderoty send appreciation to the key stakeholders in the regulatory fight

In his post on X, Stuart Alderoty noted that though victory has a thousand fathers, some personalities played major roles. He spotlighted the company’s CEO, Brad Garlinghouse, as a leader who provided the courage the team needed to go on.

He also hinted at the role many in the firm’s legal department played as key in paving the way for the success achieved thus far. To the Ripple CLO, most of the core contributors in-house are nameless and do not seek “Twitter spotlight.”

Ultimately, he believes that Ripple provided the blueprint to “defeat Gary Gensler’s inexplicable war on crypto.” He reiterated that the team kept the door open long enough for the crypto industry to survive the regulatory crackdowns.

Ultimately, he mentioned the role played by the XRP Army. Alderoty thanks the community for their faith and support in the project overall.

The Gary Gensler Defeat in Context

There are a number of interpretations to the defeat implied by the Ripple CLO. Beyond the undisputed verdict that XRP is not in itself a security, Gary Gensler’s resignation date is now set at January 20, 2025.

This resignation came following the Kamala Harris defeat by Donald Trump in the just-concluded US Presidential election.

As many industry leaders noted, the crypto voters played a role in determining the outcome of the election. Many supported Donald Trump drawing on his promises to end the war on crypto.

Thus far, the signs of change are visible with his appointments. He picked Tether advocate Howard Lutnick as Commerce Sec, Scott Bessent as Treasury Secretary with Gary Gensler’s replacement yet to be unveiled.

While the next steps in the XRP lawsuit appeal are well defined, it remains to be seen if the next US SEC Chairman will revoke the appeal in the Ripple Lawsuit. In all, the community has counted a win with Trump in charge.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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