#ondofinance总锁仓价值突破40亿美元
【Ondo’s TVL has hit $4 billion, but $ONDO still hasn’t taken off】
Ondo Finance’s total value locked has surpassed $4 billion, with tokenized stocks and ETFs accounting for more than $1.3 billion. Its cumulative number of holders has topped 1 million. Ondo is certainly making the story of bringing Wall Street on-chain bigger and bigger.
But ONDO hasn’t taken off yet. TVL reflects the size of the platform’s assets; it doesn’t mean that $4 billion has gone directly into buying ONDO. Treasury products offer yield, while stocks and ETFs expand the range of trading opportunities. Ondo is also expanding into private markets, so its business footprint is indeed growing.
Yet ONDO has actually been falling over the past couple of days. It was around $0.47 on October 12, then declined for several days in a row, reaching about $0.43 on October 15. The business is hitting new highs, but the token is falling—clearly, investors aren’t trading both according to the same playbook.
I’m optimistic about the long-term potential of the RWA sector, but for now, we can’t equate Ondo’s growth directly with an increase in ONDO’s value. ONDO is currently primarily a governance token. More assets on the platform don’t necessarily mean token holders will directly share in more revenue.
What to watch next is whether new assets keep coming in, whether trading activity translates into results, and whether the token gets a clearer value-capture mechanism. The story has gotten bigger; we’ll have to wait and see whether the token can get a slice of the pie.
【Ondo’s TVL has hit $4 billion, but $ONDO still hasn’t taken off】
Ondo Finance’s total value locked has surpassed $4 billion, with tokenized stocks and ETFs accounting for more than $1.3 billion. Its cumulative number of holders has topped 1 million. Ondo is certainly making the story of bringing Wall Street on-chain bigger and bigger.
But ONDO hasn’t taken off yet. TVL reflects the size of the platform’s assets; it doesn’t mean that $4 billion has gone directly into buying ONDO. Treasury products offer yield, while stocks and ETFs expand the range of trading opportunities. Ondo is also expanding into private markets, so its business footprint is indeed growing.
Yet ONDO has actually been falling over the past couple of days. It was around $0.47 on October 12, then declined for several days in a row, reaching about $0.43 on October 15. The business is hitting new highs, but the token is falling—clearly, investors aren’t trading both according to the same playbook.
I’m optimistic about the long-term potential of the RWA sector, but for now, we can’t equate Ondo’s growth directly with an increase in ONDO’s value. ONDO is currently primarily a governance token. More assets on the platform don’t necessarily mean token holders will directly share in more revenue.
What to watch next is whether new assets keep coming in, whether trading activity translates into results, and whether the token gets a clearer value-capture mechanism. The story has gotten bigger; we’ll have to wait and see whether the token can get a slice of the pie.