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Flux Protocol and Ondo DAO’s governance token ONDO hit a new all-time high earlier today, reaching a price of $0.9934 before pulling back to $0.8679. This surge in price has made ONDO the 95th biggest cryptocurrency in the world, with a market capitalization exceeding $1.2 billion. The protocol is described as a new paradigm for securities tokenization, attracting investors despite its apparent marketing language. The price surge was influenced by news of BlackRock launching a tokenized fund on Ethereum with Securitize, a platform it strategically invested in.

BlackRock’s move into tokenization signals a new direction for the asset manager in the blockchain space, following the success of its Bitcoin ETF. Other major players in traditional finance, such as Citi and JP Morgan, have also been exploring tokenization technology. This indicates a broader trend of adoption within the industry, with banks and asset managers like Société Générale, Standard Chartered, Franklin Templeton, and Mirae taking steps towards security tokenization. With interest growing in blockchain applications like tokenization, ONDO’s price may continue to rise, especially with Bitcoin’s upcoming halving event on April 19th.

Despite recent selling pressure causing ONDO to trade below its 30-day moving average, short-term support is expected around $0.80. If Bitcoin continues to rise due to the halving event reducing new supply, ONDO has the potential to reach a new all-time high in the near future. Investors looking to capitalize on ONDO’s volatility may seek opportunities in presale altcoins like SPONGE. This meme coin, launched in May 2023, has seen significant growth, reaching $0.002147 from an initial price of $0.000025 in less than a year. It operates on an Ethereum Layer 2 scaling solution and offers staking with a minimum yield of 40% APY.

SPONGE’s recent V2 upgrade introduced several improvements, including a new staking model with a potential yield of up to 392% depending on stakers and tokens locked up. The team plans to list the token on centralized exchanges and launch a play-to-earn blockchain game involving SpongeBob characters. With its unique revenue-generating staking/gaming model, SPONGE aims to disrupt larger market cap meme coins like PEPE, DOGE, and WIF. Investors can support the project by purchasing and staking SPONGE on the website, but it is essential to remember that crypto investments come with a high level of risk and should be approached cautiously.

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