tl;dr
Ondo Finance has surpassed $600 million in Total Value Locked (TVL) across its yield-bearing products, with $384 million in USDY and $221 million in OUSG driving its success. The platform is leading the tokenized treasury market in the Real-World Asset (RWA) sector, nearing a valuation of $1 billion...
Ondo Finance has surpassed $600 million in Total Value Locked (TVL) across its yield-bearing products, with $384 million in USDY and $221 million in OUSG driving its success. The platform is leading the tokenized treasury market in the Real-World Asset (RWA) sector, nearing a valuation of $1 billion.
Ondo Finance has hit a significant milestone, surpassing $600 million in Total Value Locked (TVL) across its yield-bearing products. The platform now holds $384 million in USDY and $221 million in OUSG, solidifying its position as a leading issuer of tokenized treasuries. Ondo Finance shared the announcement in a recent post, celebrating this achievement as it continues to lead in the Real-World Asset (RWA) sector.
Launched in January 2024, Ondo Finance has quickly become a major player in the Real World Assets (RWA) sector. With a current market cap approaching $1 billion, Ondo’s rapid ascent underscores its strong market position. While its primary focus is on institutions, individual investors can also trade on Ondo’s platform. However, they must complete a Know Your Customer (KYC) process, while firms need to go through a Know Your Business (KYB) procedure.
Ondo Finance offers two primary tokenized notes: USDY and OUSG. USDY is backed by short-term U.S. Treasuries and bank demand deposits, offering a 5.35% annual percentage yield (APY). OUSG, similarly backed by U.S. Treasuries, provides a 5.08% APY but is available only to qualified purchasers. The platform operates on business days only, in contrast to many 24/7 crypto exchanges.
In a notable accomplishment, Ondo recently moved $95 million in assets to BlackRock’s BUIDL fund, surpassing BlackRock in TVL for RWAs. Ondo’s TVL now stands at over $600 million, further cementing its position in the market.
Altcoin Buzz, a crypto news outlet, highlighted Ondo’s growth in a podcast. The platform’s valuation and market cap have increased significantly since its launch, despite the current market downturn. Ondo has a total supply of 10 billion tokens, with only 1.4 billion, or 14%, currently in circulation. The video also notes that Ondo has significant yearly token unlocks scheduled, a factor investors should consider.
Ondo’s main competitor, Mantra Chain (OM), is also a major force in the RWA sector. In contrast to Ondo, Mantra offers a wider variety of tokenized assets, including art, commodities, and real estate, which can be traded on its decentralized exchange (DEX). Mantra has also seen substantial growth, with its token price rising notably over the past year.
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The Art of Technical Analysis: Navigating the Stock Market
In the current market, we observe a clear breakout above the key resistance level, indicating a potential bullish trend. The Relative Strength Index (RSI) also supports this upward momentum, showing a strong buying pressure. Furthermore, the moving average convergence divergence (MACD) indicator suggests a continuation of this bullish trend.
However, it's crucial to note that the price has reached a historically significant resistance level, which may lead to a temporary pullback. Traders should closely monitor this level for a potential reversal or a sustained breakout. Additionally, the Bollinger Bands indicate an increased volatility, signaling the possibility of sharp price fluctuations in the near term.
Overall, while the technical indicators currently favor a bullish outlook, it's essential to remain vigilant and consider the potential risks associated with the prevailing market conditions. As always, past performance is not indicative of future results, and risk management should be a priority in any trading strategy.