$ONDO Business and token price are telling two very different stories.
First, the business. Ondo Finance officially announced yesterday that total value locked (TVL) across its platform surpassed $4 billion for the first time, up from about $1.95 billion at the start of the year—nearly doubling in less than ten months. Tokenized stocks and ETFs reportedly drove most of the growth, with a combined value of more than $1.3 billion. Treasury products account for around $3 billion, ranking first across the entire market on RWA.xyz. Ondo Global Markets alone has surpassed $1 billion, and the company’s products have more than 1 million holders in total.
The on-chain breakdown is also interesting: Ethereum accounts for $2.1 billion, followed by Stellar at around $537 million, Solana at around $457 million, and BNB Chain at around $430 million. In total, Ondo spans 10 chains (data from RWA.xyz, according to reports).
The business milestones keep coming: Ondo Private Markets launched this month, giving eligible investors 24/7 exposure to private equity. Ondo also became the first tokenization company to connect to the DTCC Fund/SERV network—which handles more than 85% of U.S. mutual fund transactions—effectively plugging tokenized products directly into the “main highway” of traditional fund distribution.
Now, the token price. ONDO, however, fell below $0.43, with its daily RSI dropping to 42.26 in neutral-to-weak territory and its MACD below the zero line. In this liquidation wave of nearly $1 billion, ONDO was swept down along with market sentiment—the business is booming, but the token has stalled.
This contrast is worth examining closely. A Dune report found that tokenized stocks account for only 8% of the entire RWA market by market cap, yet generate 93% of on-chain trading volume—Treasury tokens are the largest category, but barely trade. On October 8, the IMF also criticized fragmented liquidity and higher volatility in tokenized markets compared with traditional markets. Ondo’s solution targets the problem directly: Ondo Stocks taps into U.S. equity liquidity through the RFQ (request-for-quote) system of traditional exchanges, while allowing tokens to move permissionlessly between Solana, Ethereum, and BNB Chain—bringing “on-chain assets” and “traditional liquidity” together.
But the risks are out in the open, too: a major token unlock in January 2027 is looming, and the resulting supply pressure is real. Whether the SEC’s “innovation exemption” framework comes to fruition will determine whether tokenized stocks can trade around the clock—and that is a key variable in unlocking the next wave of demand.
The business is the foundation of long-term value; the token price is a thermometer for short-term sentiment. The gap between the two could be either an opportunity or a warning, depending on which layer you’re betting on.
The above is not investment advice. DYOR, and remember that trading involves risk.
#OndoFinanceTVLTops$4B
#RWA #Tokenization
First, the business. Ondo Finance officially announced yesterday that total value locked (TVL) across its platform surpassed $4 billion for the first time, up from about $1.95 billion at the start of the year—nearly doubling in less than ten months. Tokenized stocks and ETFs reportedly drove most of the growth, with a combined value of more than $1.3 billion. Treasury products account for around $3 billion, ranking first across the entire market on RWA.xyz. Ondo Global Markets alone has surpassed $1 billion, and the company’s products have more than 1 million holders in total.
The on-chain breakdown is also interesting: Ethereum accounts for $2.1 billion, followed by Stellar at around $537 million, Solana at around $457 million, and BNB Chain at around $430 million. In total, Ondo spans 10 chains (data from RWA.xyz, according to reports).
The business milestones keep coming: Ondo Private Markets launched this month, giving eligible investors 24/7 exposure to private equity. Ondo also became the first tokenization company to connect to the DTCC Fund/SERV network—which handles more than 85% of U.S. mutual fund transactions—effectively plugging tokenized products directly into the “main highway” of traditional fund distribution.
Now, the token price. ONDO, however, fell below $0.43, with its daily RSI dropping to 42.26 in neutral-to-weak territory and its MACD below the zero line. In this liquidation wave of nearly $1 billion, ONDO was swept down along with market sentiment—the business is booming, but the token has stalled.
This contrast is worth examining closely. A Dune report found that tokenized stocks account for only 8% of the entire RWA market by market cap, yet generate 93% of on-chain trading volume—Treasury tokens are the largest category, but barely trade. On October 8, the IMF also criticized fragmented liquidity and higher volatility in tokenized markets compared with traditional markets. Ondo’s solution targets the problem directly: Ondo Stocks taps into U.S. equity liquidity through the RFQ (request-for-quote) system of traditional exchanges, while allowing tokens to move permissionlessly between Solana, Ethereum, and BNB Chain—bringing “on-chain assets” and “traditional liquidity” together.
But the risks are out in the open, too: a major token unlock in January 2027 is looming, and the resulting supply pressure is real. Whether the SEC’s “innovation exemption” framework comes to fruition will determine whether tokenized stocks can trade around the clock—and that is a key variable in unlocking the next wave of demand.
The business is the foundation of long-term value; the token price is a thermometer for short-term sentiment. The gap between the two could be either an opportunity or a warning, depending on which layer you’re betting on.
The above is not investment advice. DYOR, and remember that trading involves risk.
#OndoFinanceTVLTops$4B
#RWA #Tokenization