Strict Regulation Leads to 7% Short-Term Surge in ONDO as Cross-Border Brokerages Are Targeted, Trader Reports 170% Weekly Gain

BlockBeats News, May 22nd, according to HTX market data, the leading project in the RWA sector, Ondo Finance's native token ONDO, experienced a short-term surge of 7.3%, reaching a high of $0.44 before falling back to $0.427. It has risen 29% from its recent low over the past 5 days. This sudden increase occurred after the news of the "China Securities Regulatory Commission cracking down on illegal activities such as wirehouses' illegal cross-border business" was reported in the media.

According to Hyperinsight monitoring, a trader on Hyperliquid opened a long position on ONDO 6 days ago with a capital of $68,000 when the price was around $0.36. At the time of writing, this position has unrealized gains of $117,000, with a return of 173%.

Address: 0xd28e005c992b168d0b20fca312958e105bb260ab