Latest news with #OndoFinance
Yahoo
22-05-2025
- Business
- Yahoo
Chainlink Gains as Exchange Outflows Point to Strong Accumulation
Chainlink's price action demonstrates remarkable resilience amid mixed global economic conditions. The token has established a well-defined rising channel pattern, with technical indicators supporting continued bullish momentum. After successfully breaking above the 200-day moving average, LINK has maintained its upward trajectory despite short-term resistance. Exchange outflows remain consistently negative, with $11.27 million worth of LINK exiting exchanges this week following $55.2 million in outflows last week. This pattern of decreasing exchange balances typically signals investor accumulation rather than selling pressure. Meanwhile, Chainlink's technology continues gaining traction in the DeFi sector, with recent integrations including JPMorgan, Ondo Finance, and Solana mainnet. Analysts project LINK could reach $20 in the near term, with longer-term forecasts suggesting potential growth to $50 by 2028 and $100 by 2030 as adoption of its Cross-Chain Interoperability Protocol (CCIP) expands across the blockchain ecosystem. Technical Analysis Highlights LINK established strong support at $15.60 with high-volume buying emerging at the $15.27-$15.30 zone during the 18-19 hour timeframe on May 20th. A significant volume spike (3.08M) during the 11:00 hour on May 21st coincided with LINK testing the $16.24 resistance level. The overall trend remains bullish with higher lows forming a clear upward channel. LINK demonstrated significant bullish momentum in the last hour, surging from $15.67 to a peak of $15.91, representing a 1.5% gain. A notable volume spike occurred at 13:30, catalyzing a sharp upward movement that established a new support level around $15.75. The price action formed an ascending channel with higher lows, though some profit-taking emerged near the $15.90 resistance level. Final minutes showed consolidation around $15.85, with volume patterns suggesting accumulation rather than distribution. External References "Chainlink Price Prediction: Can Increased Network Adoption Rejuvenate Bullish Momentum for LINK?", CoinPedia, published May 20, 2025. "Chainlink price prediction 2025-2031: A strong buy sentiment for LINK?", Cryptopolitan, published May 20, 2025. "Chainlink In Rally Mode: Rising Channel Formation Signals Continued Climb", NewsBTC, published May 21, 2025. "Chainlink price targets $20 as exchange outflows surge", published May 21, in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Exclusive: Colombia to issue first CBDC on Cosmos, says Interchain Labs' CEO
Interchain Labs announced it is collaborating with a consortium of major banks and the Colombian government to pilot the country's first central-bank digital currency (CBDC) on the Cosmos network, using IBC Eureka as its primary transfer protocol. The initiative seeks to modernize cross-border settlements by leveraging the efficiency of programmable money without compromising institutional security. A CBDC is a digital form of a country's sovereign money, issued and regulated by its central bank. it carries the same legal status as cash while enabling programmable features typically found in digital payments. Unlike decentralized cryptocurrencies, a CBDC represents an electronic liability of the central bank and is backed by the full faith and credit of the issuing authority. 'When you're the Colombian government, there is no way you're trusting anyone except for yourself,' said Maghnus Mareneck, chief executive officer of Interchain Labs. 'To you, crypto is so scary. Imagine you're a president and you suffer a hack — you're going to take the blame. So having technology they can understand and change is the most important thing in terms of the security assumptions.' Mareneck noted that this mirrors the strategy of real-world asset issuers such as Ondo Finance — which has onboarded investors including Goldman Sachs, Morgan Stanley and BlackRock — in building dedicated Cosmos chains. These issuers configure their own validator parameters so transfers occur only under preapproved conditions. 'IBC Eureka only rests upon the trust assumptions of your blockchain,' Mareneck noted. 'If your blockchain has validators that are all institutions you trust, then you don't have to trust anyone else except the people that you're sending assets to.' The pilot allows Colombia's central bank and partner banks to define and modify their list of trusted validators, effectively creating a permissioned CBDC rail atop a public network. By starting with a controlled set of participants — and adding new ones only as confidence grows — the project aims to demonstrate that programmable money can deliver faster, more transparent settlements without sacrificing institutional security. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
19-05-2025
- Business
- CNBC
JPMorgan and Ondo Finance team up to bring bank payment rails to tokenized asset markets
Nathan Allman, founder and CEO of Ondo Finance, discusses a new partnership with JPMorgan's blockchain unit at Consensus 2025 in Toronto.
CNBC
19-05-2025
- Business
- CNBC
Bitcoin retreats after hitting four-month high above $107,000: CNBC Crypto World
On today's episode of CNBC Crypto World, Bitcoin falls after hitting a four-month high above $107,000. And, the Trump family's World Liberty Financial crypto project pushes back on Sen. Richard Blumenthal's concerns of potential conflicts of interest or violations of the law tied to the President's crypto ventures, including World Liberty. Plus, Nathan Allman, founder and CEO of Ondo Finance, discusses a new partnership with JP Morgan's blockchain unit from Consensus 2025.
Yahoo
15-05-2025
- Business
- Yahoo
Ondo Finance enables 24/7 conversions between OUSG and PayPal USD
Ondo Finance has launched 24/7 instant conversions between its tokenized Treasury product, OUSG (Ondo Short-Term US Government Treasuries), and PayPal USD (PYUSD), the stablecoin issued by Paxos and available via PayPal and Venmo. The update allows users to seamlessly mint OUSG using PYUSD and redeem it back to PYUSD anytime, offering greater liquidity for OUSG holders and boosting the real-world utility of PayPal's stablecoin. The $25 million conversion facility is one of the largest of its kind between a stablecoin and tokenized money market fund. 'Enabling OUSG and PYUSD conversions broadens the range of trusted, high-quality settlement options available to our clients,' said Nathan Allman, CEO of Ondo Finance. 'We're thrilled to deepen our relationship with PayPal and play a leading role at the intersection of traditional finance and DeFi.' The launch is part of Ondo Nexus, the firm's tech platform that supports instant liquidity for tokenized Treasury issuers. With this system, holders of tokenized Treasuries — including those offered by other issuers — will be able to redeem their assets instantly for stablecoins like PYUSD. OUSG remains Ondo's flagship product with over $525 million in total value locked. It offers 24/7 redemptions with no fees, daily interest accruals, and multi-chain support on Ethereum and Solana. The fund is backed by high-quality assets, including BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton's OnChain U.S. Government Money Fund, WisdomTree's Digital Government Money Market Fund, and FundBridge Capital's Ultra Short Treasury On-Chain Fund. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
