Ondo, the popular real-world asset tokenization coin, rose by more than 10% on Friday, becoming one of the top gainers in the market.
Ondo Finance (ONDO) jumped after Larry Fink pressed the Securities and Exchange Commission to approve tokenized stocks and bonds. This statement, coming from the head of the world’s largest asset manager, with over $10.7 trillion in assets under management, has further bolstered interest in the tokenization space.
BlackRock has been actively involved in the tokenization industry through its BUIDL product, which currently holds over $640 million in assets. Ondo Finance has partnered with BUIDL for its Short-Term US Government Treasuries product, which manages more than $189 million in assets.
The recent rally in ONDO also comes as anticipation builds for the upcoming Ondo Summit, the platform’s inaugural event focused on tokenization and the disruption it is driving in the financial services industry.
Scheduled for Feb. 6, the summit will feature speakers from prominent financial institutions, including BNY Mellon, BlackRock, Fidelity, Franklin Templeton, WisdomTree, and Pantera. Additionally, representatives from the Commodity Futures Trading Commission will participate, further elevating the event’s significance.
Speculation about potential partnerships and announcements at the summit has fueled optimism, with investors expecting Ondo to perform well ahead of and during the event.
The token’s price rebound also comes a week after the network unlocked over 2.5 billion ONDO tokens. Its next unlock is scheduled for Jan. 18, 2026.
Ondo price technicals point to more gains
From a technical perspective, Ondo peaked at $2.15 in December before pulling back to a low of $1.0950. The price has since formed a falling wedge pattern, with the upper trendline connecting the highest swings since Dec. 16 and the lower trendline connecting the lowest levels since November. As these lines converge, ONDO has made a bullish breakout.
Ondo has retested the key resistance level at $1.4850, the upper side of the cup and handle pattern, another bullish sign. It has formed a small inverse head and shoulders chart pattern.
Based on these technical patterns, ONDO is likely to continue its upward trajectory, with the next key target at $2.1430, representing a 45% gain from its current level. However, this bullish outlook would be invalidated if the price drops below the support level at $1.0950.
