Ondo (ONDO) is one of the major representative projects of the Real World Asset (RWA) sector and has been listed on most leading exchanges, including Coinbase. This has led many investors to wonder if Binance is staying out of the game?
Many investors have noticed that Binance-labeled wallet addresses have been continuously accumulating ONDO, and speculate that the listing of ONDO on Binance is just a matter of time.
Binance's hot wallet holds $900 million worth of ONDO
Recently, the community has noticed continuous accumulation of ONDO on Binance-labeled wallet addresses, such as "Binance 14", "Binance 15", "Binance 16"...
Specifically, the "Binance Hot Wallet 20" currently holds nearly 550,000 ONDO, worth over $900 million. Meanwhile, the circulating supply of ONDO is 1.38 billion and the market capitalization is $2.28 billion.
The amount of ONDO held by the Binance Hot Wallet 20. Source: etherscan"Binance has 2 options. 1. Do not list Ondo immediately and let potential customers pay transaction fees to transfer to other centralized exchanges. 2. List Ondo and have the potential to capture a large market share as Binance is the largest exchange. Binance is not stupid, they know now is the time to make money, especially as retail money is returning to cryptocurrencies. In my opinion, the listing of ONDO on Binance is a matter of WHEN, not IF." - Investor Kyren commented.
In fact, ONDO has already been listed on Binance's perpetual contract, and Binance also often lists spot trading for projects that have appeared on the perpetual contract. Investor Grey BTC expects Binance to announce the listing of ONDO in January 2025.
Ondo is one of the major representatives in the RWA field
A recent report by CoinGecko shows that RWA is one of the TOP 3 most attractive investment narratives for crypto investors in 2024 (alongside Meme coins and AI). Data from RWA.xyz shows that the market share of the tokenization of US Treasuries (T-bills) is becoming increasingly competitive.
Among them, Ondo is the protocol with a 16% market share, ranking 3rd, and Ondo's USDY (Ondo U.S. Dollar Yield) is the stablecoin with the highest yield on the list, reaching 4.65%.
The market of protocols tokenizing US Treasury assets (T-bills). Source: RWA.xyz.Recently, Donald Trump's cryptocurrency project, World Liberty Financial, has purchased 134,216 ONDO tokens for 250,000 USDC through Cow Protocol. Additionally, the new US President Donald Trump has stated that he will nominate Paul Atkins as the new Chair of the US Securities and Exchange Commission (SEC), replacing Gary Gensler who has announced he will resign in January. Many investors have noticed the connection between Paul Atkins and Ondo.
"Paul Atkins is the new SEC Chair. Paul Atkins is an advisory board member of Securitize. Securitize collaborates with BlackRock and Ondo on security Tokenization. Ondo will launch Ondo Global Markets on February 6, 2025. Ondo Global Markets will tokenize stocks and bonds on-chain, bridging the gap between TradeFi and DeFi. ONDO will be priced at $50." - Investor Not Telling predicted.
Also Read: 10 Promising Real World Asset (RWA) Projects to Watch in 2024
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