The crypto market is buzzing today after the SEC approved spot Ethereum ETFs in the US – and one token is taking the news better than the rest.
Ondo (ONDO), the DeFi platform bridging real-world assets to the blockchain, has surged to a new all-time high following the SEC’s decision.
ONDO Token Hits All-Time High as Crypto Market Turns Bullish
ONDO is the native token of Ondo Finance, a DeFi protocol on Ethereum.
And this token has been on fire since the start of the week.
Just hours ago, it blew past its old record, hitting a new all-time high of $1.16.
The excitement around ONDO is clear, with the token up a whopping 30% from Monday’s lows.
But today’s 21% jump is what’s really got crypto investors talking.
ONDO’s spot trading volumes have also exploded, soaring 89% to $456 million in the past day.
The token has even been ranked 5th on CoinMarketCap’s list of trending cryptocurrencies.
Clearly, investors are excited about Ondo’s unique combination of traditional finance and DeFi.
The platform aims to open up new markets by tokenizing assets like US Treasuries, all while complying with regulations.
Over 88,000 people now follow Ondo’s official Twitter page – evidence of a growing community that believes in the project’s future.
Spot ETH ETFs Act as Potential Catalyst for DeFi Growth
Ondo’s rally got a boost from the SEC’s historic decision to approve spot ETH ETFs in the US.
But investors aren’t popping the champagne just yet since this ruling is only the first hurdle.
Each ETF issuer, like Grayscale and BlackRock, still needs to file detailed registration statements that will be reviewed before the funds can start trading.
So when will these ETFs hit the market?
Optimistic analysts think we could be just weeks away if the SEC follows a similar timeline to their spot Bitcoin ETF approval process.
More cautious analysts suggest it could be a few months before the ETFs go live.
Assuming a smooth rollout, the implications for DeFi tokens like ONDO are massive.
With approved spot ETH ETFs making it easier to access the Ethereum ecosystem, many expect a surge of investment into DeFi projects.
This uptick in demand could be great for ONDO – potentially pushing it past the $2 mark.
Of course, nothing is guaranteed, but if this ETF narrative plays out, ONDO’s new all-time high today may just be the beginning.
Which Other Altcoins Could Soar After ETF Approval?
While Ondo’s prospects look bright, it’s not the only crypto that could benefit from spot ETH ETFs.
One token flying under the radar but starting to attract attention is 99Bitcoins Token (99BTC).
99Bitcoins Token – The Learn-to-Earn Crypto with Huge Growth Potential
This brand-new token is pioneering a “Learn-to-Earn” model that rewards users for engaging with educational material on 99Bitcoins – one of the space’s most popular learning platforms.
There’s clearly an appetite for this model, with the ongoing 99BTC presale already raising over $1.5 million.
So, how might 99BTC benefit from spot ETH ETFs being approved?
For starters, ETF approval could attract a wave of new investors looking for projects with solid fundamentals.
Given 99Bitcoins’ established reputation, it could be just what they’re looking for.
Plus, since 99BTC holders can stake their tokens to earn yield, investors seeking a passive income stream might find this token appealing.
There’s even a $99,999 BTC airdrop campaign underway that rewards community members who join the “Learn-to-Earn revolution” early.
Prospective entrants simply need to sign up on the 99Bitcoins website, follow the official social channels (like Twitter and Discord), and submit a wallet address.
All in all, while ONDO is a direct beneficiary of ETH ETFs being approved, 99Bitcoins Token is a dark horse that could really take off in a bull market.
