Key Highlights
- ONDO declined 9.96% in 24 hours to $0.3402, reducing its market capitalization to $1.65 billion.
- Trading volume climbed 18.13% to $164.8 million, signaling increased market activity during the sell-off.
- Ondo Finance’s TVL remained at $3.5 billion, despite the token’s price weakness.
The native governance and utility token of Ondo Finance, ONDO, experienced a sharp decline, trading at $0.3402, down 9.96% in the last 24 hours.
The token’s market capitalization fell to $1.65 billion, with 24-hour trading volume reaching $164.8 million, up 18.13%.
According to CoinMarketCap data, ONDO fluctuated between a low of $0.3383 and a high of $0.3826 during the session, reflecting intraday volatility. Its fully diluted valuation stood at $3.4 billion, while the token’s TVL on the Ondo Finance platform remained at $3.5 billion.
The circulating supply is approximately 4.86 billion ONDO out of a total supply of 10 billion tokens. Although the token had gained around 2.52% over the previous week, the latest sell-off erased those gains, pushing the price closer to a key support level near $0.33.
The decline came amid broader market weakness, even as Ondo Finance maintained a holder base of more than 205,500 addresses.
Recent developments at Ondo Finance
This month, Ondo Finance expanded tokenized securities on Solana with 24/7 minting and redemption for assets like NVDAon, TSLAon, and SPYon. The company also launched Ondo Perps for trading perpetual futures tied to equities and commodities and partnered with RWA GLOBAL INC to expand access to tokenized real-world assets.
On July 2, Ondo introduced what it described as the first live third-party tokenized U.S. securities under the SEC’s custodial framework, including BlackRock’s IVV ETF and Micron shares on Ethereum.
Despite these developments, ONDO fell nearly 10% over the past 24 hours as broader market weakness weighed on the token.
Price decline despite ecosystem growth
While ONDO came under selling pressure, Ondo Finance continued to report growth across its ecosystem, with its TVL remaining at approximately $3.5 billion and recent expansions into tokenized securities and perpetual futures.
The latest price decline reflects that broader market conditions continued to weigh on the token despite ongoing platform developments.
Repeated price slips despite major announcements suggest market skepticism and limited retail enthusiasm. In a competitive RWA sector, Ondo risks losing relevance if token performance continues to lag behind protocol achievements.
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