Under the influence of ONDO, tokenization has grown by 7000%, but its price has stagnated.

Key Points

Since 2023, U.S. Treasury prices have skyrocketed by 7000%, with ONDO seeing the largest increase this year. Although it found support at $0.90, the reversal patterns suggest there may be room for downside.

Ondo Finance [ONDO] fell 2% on the day but still leads other real-world asset (RWA) tokens. Recently, the market has dropped, even spreading to the stock market, and Ondo Finance [ONDO] has not been spared.

Since the start of Trump's second term, the momentum for tokenization of risk assets (RWA) has surged. This momentum was further enhanced after the White House Bitcoin report mentioned ONDO, making this altcoin a leader in the field.

Tokenization grows by 7000%, ONDO leads

According to an article by Dami Defi on X, the tokenization of U.S. Treasury bonds on the blockchain has grown by about 7000% in just two years. BlackRock leads the way, followed by ONDO, which has skyrocketed by 120% since early 2025.

Ethereum [ETH], Chainlink [LINK], and Solana [SOL] are the leading layers of tokenization. Messari highlights that ONDO's asset management scale has grown to over $1.3 billion, accounting for about 33% of all tokenized assets.

The stablecoin issued on the Solana blockchain has grown to $250 million, accounting for about 64%.

This indicates that ONDO dominates in RWA deployment, with Standard Chartered expecting RWA to reach $30 trillion by 2034.

As minting scales up, whales are buying at discounted prices.

Onchain data from Arkham Intelligence shows that a 'whale' is busy hoarding altcoins valued below $1. As of the time of writing, their wallet holds about 1.35 million ONDO, worth approximately $1.26 million.

According to data from EtherScan, this acquisition coincides with the leadership's expansion of stock minting operations to CoWSwap. They are actively testing, having deployed American Express cards on ONDO using CoWSwap.

This expansion aligns with ONDO's goal of simplifying the tokenization process while ensuring sufficient coverage. As a result, the addition of more protocols and user growth will follow, as there is a direct correlation between them.

Will the altcoin hold or collapse?

Despite ONDO achieving significant milestones in tokenization and blockchain activities, its price has stagnated. The price has formed two bearish reversal patterns, suggesting further downside potential in the future.

The initial pattern led the price to drop from $1.15 to $0.85. The second pattern caused ONDO to fall from $1.10 to $0.90, forming a bottom here.

However, whether it can maintain the $0.90 level depends on broader market reactions, especially concerning Bitcoin [BTC].

The Chaikin Money Flow (CMF) indicator reached 0.17 and is on an upward trend, indicating inflows. This supports the previously mentioned inflow into whale wallets.

The head and shoulders pattern suggests further declines in the future. Therefore, the possibility of returning to $0.85 cannot be ruled out. However, the market expects this area to hold until a rebound. Once lost, potential reversals will turn into bubbles.