Ondo Finance's TVL tripled, driven by Ethereum and Solana deposits.
ONDO’s price hovers near $0.80, facing resistance despite rising adoption.
Future movement depends on holding key support and maintaining RWA momentum.
Ondo Finance has been storming ahead, but the price still crawls behind like a shadow. While the buzz around Real World Assets heats up, ONDO’s price struggles to break above $1. That’s right—despite a surge in activity, the token sits just under key resistance. Let’s unpack the recent numbers, the story they tell, and what could be next for ONDO.
https://twitter.com/johnmorganFL/status/1928823283803148362?t=POLMC-U1_4g-UIGRa7l7Kg&s=19 TVL Surges While Price Lags
Over the past year, Ondo’s Total Value Locked — TVL exploded. From around $500 million in January to over $1.2 billion by late May, that’s nearly a 3x increase. Most of this expansion came through Ethereum and Solana. Ethereum saw over $600 million in stablecoins like OUSD and USDY. Solana followed with more than $300 million in OUSG and USDY. The surge wasn’t limited to just these chains.
Arbitrum One brought in over $150 million in USDY. Polygon, though slower, still drew $50 million in OUSG deposits. This paints a clear picture: people trust Ondo protocols and believe in Real World Assets. Such numbers don’t lie. The capital keeps flowing, and adoption leads the pack. ONDO now dominates the RWA space by TVL. That says something about community belief and growing institutional interest.
ONDO’s Price at a Tipping Point
As of now, ONDO trades around $0.8093. That’s just above a critical support level of $0.79. Back in April, this price held firm and sparked a reversal. Earlier in May, the price even broke past a descending trendline. But the breakout didn’t last. Traders suspected a trap, and they may have been right. Technical indicators currently sit on the fence. Neither bulls nor bears have taken full control. Yet, if the price manages to hold above $0.80, the next stop could be $1.37. Breaking past $1.37 might pave the way for $2.20—the previous high from December 2024.
But a slip below $0.80 could trigger more downside. Whales offloading assets could magnify this drop. That risk weighs heavily on ONDO’s short-term outlook. Market sentiment around Real World Assets still burns bright. But hype alone can’t support price. Fundamentals and steady buying must walk hand-in-hand. ONDO’s growth on Ethereum and Solana shows strong confidence. However, rivals in the RWA space may catch up.
The market never sleeps, and competition is fierce. Price now balances on a wire. It could dance up toward $1.95 or tumble below support. That’s why the $0.80 level demands attention. Traders will watch that zone like hawks. For those rooting for ONDO, there’s hope. Momentum is real. Trust is solid. But price needs to catch fire soon—before doubt creeps in and weak hands fold. For now, traders should watch three key price levels, including $0.80, $1.37, and $1.95.
