ONDO’s tokenized stock total locked-in value has surged to $1.26 billion, hitting an all-time high, covering about 450 stocks and ETFs.
But within the same industry metrics, the month’s transfer volume is down by nearly 70% compared with last month. As the overall scale moves upward, turnover is trending downward.
What is currently setting the price for ONDO looks more like “a stake within a compliant issuance channel” rather than a true price breakout.
Two lines are moving forward in parallel: regulators are using a five-year innovation exemption to open up trading venues for tokenized securities—licensed AMMs can match orders, market-making is temporarily exempt from registration, and the on-chain master record is recognized. However, there are hard caps on the number of stock lots and trading volume, and synthetic tokens are excluded. Meanwhile, Korean brokers have paired up with issuers to pilot tokenization of Korean stocks; for now, it’s only about building a framework, with no commercialization timeline.
There’s also a view that whale net accumulation has expanded again. But this is only observed through a single channel; there’s been no confirmed price breakout. So it remains to be verified.
In one month, the number of holding addresses rose by 60%, while transfer volume fell by 70%—does this indicate distribution has widened, or is it the same group turning over?
But within the same industry metrics, the month’s transfer volume is down by nearly 70% compared with last month. As the overall scale moves upward, turnover is trending downward.
What is currently setting the price for ONDO looks more like “a stake within a compliant issuance channel” rather than a true price breakout.
Two lines are moving forward in parallel: regulators are using a five-year innovation exemption to open up trading venues for tokenized securities—licensed AMMs can match orders, market-making is temporarily exempt from registration, and the on-chain master record is recognized. However, there are hard caps on the number of stock lots and trading volume, and synthetic tokens are excluded. Meanwhile, Korean brokers have paired up with issuers to pilot tokenization of Korean stocks; for now, it’s only about building a framework, with no commercialization timeline.
There’s also a view that whale net accumulation has expanded again. But this is only observed through a single channel; there’s been no confirmed price breakout. So it remains to be verified.
In one month, the number of holding addresses rose by 60%, while transfer volume fell by 70%—does this indicate distribution has widened, or is it the same group turning over?