ONDO Price Eyes Breakout as Ondo Finance Expands To Solana – Crypto News – Crypto News
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ONDO Price Eyes Breakout as Ondo Finance Expands To Solana – Crypto News

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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.

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