Ondo Crypto: A Worthy Investment?

Ondo Finance (ONDO) is a decentralised finance (DeFi) protocol that brings institutional-grade financial products on-chain, including tokens backed by US Treasuries. It uses a decentralised autonomous organisation (DAO) to manage its governance, and its native token, ONDO, is used to participate in the DAO and earn rewards. ONDO was launched on 18 January 2024 and has been on a general upward trajectory since, hitting an all-time high of $1.48 in June 2024. However, it has since decreased in value, and as of September 2024, it is valued at $0.97 per ONDO. Ondo Finance's total market cap is $1.35 billion, and it ranks 67th in market cap ranking. While Ondo Finance has been gaining traction, the future of its token value is uncertain.

Ondo Finance's institutional-grade financial products

Ondo Finance was created to bring institutional-grade financial products on-chain, including tokens backed by U.S. Treasuries. Its mission is to make institutional-grade financial products and services available to everyone. Ondo believes that blockchain technology can improve both the infrastructure of and access to financial products and services.

To achieve this, Ondo has an asset management arm that creates and manages tokenized financial products, and a technology arm that develops decentralised finance protocols. The asset management arm works to combine the best technical improvements from blockchain with the best practices from traditional finance. This includes investor protections, transparency in reporting, legal and regulatory compliance, intelligent and robust product structuring, working with the best service providers, and top-notch client service.

The protocols created by Ondo are set up to eventually run independently from the company. Each protocol has its own separate web app interface on a different web domain, governed by a separate entity not controlled by Ondo.

One of the protocols supported by Ondo is Flux Finance, a decentralised lending platform that supports Ondo Finance's tokenized U.S. Treasuries. ONDO is used to govern the Ondo DAO and the Flux Finance protocol.

Another protocol is the USDY vs Rebasing USDY (rUSDY). USDY is a stablecoin that is designed to maintain a stable value relative to the U.S. dollar. rUSDY is a token that represents a claim on the USDY protocol and is designed to maintain a stable value relative to a basket of goods and services.

Ondo also offers qualified-access products, such as OUSG vs Rebasing OUSG (rOUSG). OUSG is a token that represents ownership in a fund that holds U.S. Treasuries. rOUSG is a token that represents a claim on the OUSG protocol and is designed to provide exposure to the performance of the U.S. economy.

Overall, Ondo Finance offers a range of institutional-grade financial products and services that leverage blockchain technology to improve access and infrastructure.

ONDO's price predictions

2024

According to CoinCodex, the price of ONDO is predicted to rise by 227.92% and reach $2.36 by October 24, 2024. However, according to another source, the maximum price for 2024 is predicted to be $1.22.

For September 2024, the forecasted average of ONDO is $0.8206, with a potential highest price of $0.8815. In October, the price is expected to fluctuate between $0.8206 and $0.8206. The same price is predicted for November and December.

2025

The minimum price of ONDO in 2025 is predicted to be $1.08, with a maximum expected price of $1.36. The average trading price might be $1.11. According to CoinCodex, the price of ONDO is predicted to be between $0.720376 and $3.40 next year.

2026

The minimum and maximum prices of ONDO in 2026 are expected to be around $1.63 and $1.85, respectively, with an average trading cost of $1.68.

2027

In 2027, the minimum ONDO price might drop to $2.41, while its maximum can reach $2.82. The average trading cost is predicted to be around $2.49.

2028

The maximum and minimum ONDO prices for 2028 are expected to be $4.04 and $3.42, respectively. The average trading price is predicted to be $3.52.

2029

The estimated average ONDO price for 2029 is $5.11, with a potential minimum of $4.97 and a maximum of $5.93.

2030

ONDO is expected to be traded between $7.59 and $8.87 in 2030, with an average cost of around $7.80. According to CoinCodex, the price of ONDO in 2030 is predicted to be between $1.814516 and $2.94.

2031

The maximum ONDO price for 2031 is predicted to be $12.93, with a minimum of $10.83 and an average trading price of $11.22.

2032

Crypto experts predict the average ONDO price for 2032 to be around $16.46, with a minimum of $15.90 and potential maximum peaks at $18.96.

2033

The maximum ONDO price for 2033 is predicted to be $27.19, with a minimum of $22.40 and an average trading price of $23.23.

2034

The average trading price of ONDO in 2034 is predicted to be $4.08, with a potential minimum of $3.27 and a maximum of $4.90.

2035

The average trading price of ONDO in 2035 is predicted to be $4.70, with a potential minimum of $3.76 and a maximum of $5.63.

2040

The average trading price of ONDO in 2040 is predicted to be $415.51, with a potential minimum of $382.99 and a maximum of $470.55.

2050

The average trading price of ONDO in 2050 is predicted to be $623.84, with a potential minimum of $592.72 and a maximum of $674.24.

ONDO's market cap

Market capitalization, or "market cap," is a figure used to determine a company's size. It is calculated by multiplying the number of outstanding shares by the current market value of one share. In the context of cryptocurrencies, market cap is calculated by multiplying the current price of a token by its circulating supply.

As of September 25, 2024, ONDO's market cap is $1.12 billion. This is calculated by multiplying ONDO's current price of $0.778025 by its circulating supply of 1.44 billion tokens. ONDO's market cap represents a fully diluted market cap, assuming the maximum number of 10 billion ONDO tokens are in circulation.

Market cap is an important metric for investors as it provides a baseline for analysis and helps determine a company's size and financial performance relative to other companies. A high market cap indicates that a company has a larger presence in the market and may have advantages such as cheaper financing, consistent revenue streams, and brand recognition.

It is worth noting that market cap does not directly impact stock price or determine the acquisition cost of a company. However, it is a valuable tool for investors to consider when evaluating potential investments.

How to buy ONDO

Step 1: Find a Reliable Centralized Exchange

You can refer to Coinmarketcap.com's Markets section to find a list of centralized exchanges where the coin is listed. Some of the popular exchanges that support ONDO include Bybit, KuCoin, and Coinbase Exchange.

Step 2: Set Up Your Crypto Wallet

Download and install a crypto wallet that is compatible with the exchange you chose in Step 1. For example, if you select Bybit, you can download their official wallet. If you go with a different exchange, make sure to download the official wallet from their website.

Step 3: Register and Set Up Your Crypto Wallet

Register and set up your crypto wallet using the wallet's official instructions. Be sure to keep your seed phrase safe, and take note of your wallet address, as you will need it for the next steps.

Step 4: Buy ETH as Your Base Currency

Login to your chosen exchange and proceed to the crypto or ETH-buying section. If you are new to the exchange, you may need to register and complete any necessary verification steps.

Step 5: Send ETH From the Exchange to Your Crypto Wallet

After purchasing ETH, go to your exchange wallet section, find your ETH, and click on "withdraw." Fill in the required information, including setting the network to Ethereum, and provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for the ETH to appear in your crypto wallet.

Step 6: Choose a Decentralized Exchange (DEX)

Select a DEX that is compatible with the crypto wallet you chose in Step 2. For example, if you selected Trust Wallet, you can use 1inch to make the transaction.

Step 7: Connect Your Crypto Wallet to the DEX

Use your wallet address from Step 2 to connect your crypto wallet to the chosen DEX.

Step 8: Trade Your ETH for ONDO

On the DEX, select ETH as the payment option and ONDO as the coin you want to acquire. Specify the amount of ETH you want to trade, review the details, and confirm the transaction.

Step 9: Complete the Transaction

If ONDO doesn't appear on the DEX, you may need to find its smart contract address on a site like https://etherscan.io/. Copy and paste the contract address into the DEX, being careful to avoid scams and ensuring you have the official contract address. Once you've selected the correct ONDO token, click the "Swap" button to finalize your purchase.

Please note that the above guide may vary depending on the specific exchanges and wallets you choose. Always do your own research and carefully review the instructions provided by the exchanges and wallets you use.

Similar coins to ONDO

There are several other assets that are similar to Ondo Finance (ONDO) in terms of market cap, including:

• Fasttoken
• Tether Gold
• Enjin Coin
• Artificial Superintelligence Alliance (FET)
• Mountain Protocol (USDM)

ONDO is a DeFi primitive that enables users to originate risk-isolated, fixed-yield loans backed by yield-generating crypto-assets. It is a permissionless protocol that allows users to interact on a peer-to-pool basis with no intermediaries. ONDO is also used to govern the Ondo DAO and the Flux Finance protocol, which supports Ondo Finance's tokenized U.S. Treasuries.

Frequently asked questions