The business grew. Did the token?
Ondo’s Q2 gross revenue was $15.3M. Gross profit was zero, because the yield goes straight to product holders.
TVL is $3.49B, yet
$ONDO is still about 85% below its Dec 2024 high.
Supply is also 4.87B circulating out of 10B. The other 5B is a sell-pressure question for later.
Good product. Token capture is a separate test.
Verdict: watchlist, not a buy signal. Not financial advice.
$ETH $GTC #OndoFinance #RWAToken #TokenizedTreasuries #ValueCapture