ONDO has surged roughly 15%, making it one of crypto’s strongest performers after Ondo Finance unveiled new products tied to BlackRock strategies. The token climbed from about $0.42 to nearly $0.56 within days. The sharp move followed Ondo’s September 24 launch of Intelligent Portfolios for eligible investors outside the United States.
The launch gives ONDO a clear fundamental catalyst after months of weaker price action. However, the new products do not require investors to buy ONDO. The rally therefore reflects growing market interest in Ondo’s expanding real-world asset business and expectations surrounding its ecosystem.
BlackRock Strategies Expand Ondo’s RWA Offering
Ondo Finance launched three new Intelligent Portfolio products on September 24, offering investors different strategies focused on income, balanced growth and higher growth.
Instead of buying and managing several investments separately, investors can use one digital token that represents a portfolio of multiple assets. Eligible users can create, or mint, these tokens and later redeem them when they want to exit.
The portfolios use Ondo Stocks as their underlying investments. Ondo also manages how the assets are allocated and automatically adjusts the portfolios over time.
BlackRock developed the investment strategies used by the products specifically for Ondo. However, BlackRock does not manage the portfolios or handle their tokenization.
Ondo is responsible for issuing the tokens, managing custody and distributing them. The products are currently available only to eligible investors outside the U.S.
ONDO Rally Meets Heavy Long Positioning
The rise in ONDO has also brought much more activity to the derivatives market. Data from CoinGlass shows that traders are holding more long positions than short positions, meaning more traders are betting on further price gains.
On Binance, the ONDO/USDT long-to-short ratio stands at 1.70. OKX reports an even higher ratio of 2.21. Among Binance’s top traders, the ratio is 1.99 when measured by accounts and 2.40 when measured by the size of their positions.
Source: CoinGlass
These figures show strong bullish positioning among larger traders. Still, they do not guarantee that ONDO’s price will continue rising.
Liquidations also show how volatile the market has become. About $6.55 million worth of ONDO positions were liquidated over the past 24 hours. Short positions accounted for around $4.21 million, while long positions made up about $2.34 million.
The pattern was similar over 12 hours, with $2.41 million in short liquidations and $1.26 million in long liquidations. Over the latest hour, however, long liquidations jumped to about $158,840, compared with $38,010 for shorts.
Open Interest Doubles During the Breakout
As per the Coinalyze data, ONDO was increasing from $0.39 to $0.55 throughout the one hour period. The largest gain was made on September 24, when the coin crossed above $0.45 and further surpassed $0.50.
ONDO later reached about $0.58 before falling back toward $0.55. The price increase also brought a sharp rise in trading activity in the derivatives market.
Source: Coinalyze
Open interest, which tracks the total value of active futures and other derivatives contracts, rose from roughly $160 million to about $324 million. In simple terms, traders were putting much more money into ONDO-related derivatives as the price climbed.
Still, open interest does not show whether traders were betting on the price going up or down. It only shows that more positions were being opened.
The surge therefore points to a rapid increase in speculative activity around ONDO. More recently, the price has eased from its peak, suggesting that the rally has lost some momentum.
Jelle Sees $0.48 Retracement Risk
Crypto analyst Jelle highlighted the move on X after ONDO broke above its recent resistance.
“$ONDO flew higher on the back of the BlackRock announcement and now faces resistance at $0.53. I’d love to see it break in one go, but could also see a partial retrace toward $0.48 before it continues higher. Long-term hold for me; just going to let it ride into the sunset.”
Jelle’s chart shows ONDO breaking from a prolonged period of consolidation. The token spent much of early 2026 below $0.40 after previously trading above $1.00.
Selling pressure later eased as ONDO built a broader base between roughly $0.23 and $0.40. The token then moved above $0.40 and broke through a descending trendline.
Source: Jelle
The recent surge pushed ONDO toward $0.55. A temporary spike near $0.58 followed before the price retreated.
The $0.53 to $0.55 region now represents an important area on the chart. A sustained move above that zone would keep the breakout in focus.
ONDO Faces an Overheated Short-Term Setup
The BlackRock-linked launch gives ONDO’s rally a fundamental story. Yet the token’s rapid advance has also pushed short-term indicators higher.
Moreover, the rally has not created direct demand for ONDO through the new products. Investors can access the portfolio tokens without necessarily purchasing ONDO itself.
Therefore, the token’s latest move rests largely on expectations surrounding Ondo’s broader ecosystem. The market now faces a test between that fundamental narrative and stretched short-term positioning.
For ONDO, the next phase may depend on whether the token can hold its breakout levels. A sustained move could keep the BlackRock-driven narrative active, while a deeper pullback would test the strength of the recent rally.
