Ondo Finance (ONDO) is currently trading near $0.38, fluctuating within a narrow 24-hour range between $0.367 and $0.3838. Traders are balancing record protocol usage against weak spot price performance. Its market cap is approximately $1.19 billion, with a 25%+ increase in 24-hour trading volume, indicating renewed activity despite a major decline over the past year.
Recent data shows the total value locked at about $1.93 billion. However, the token has fallen 71.85% year to date, underscoring the disconnect between platform adoption and its market price.
Ondo Finance Sees Strong Inflows as TVL Hits Record Levels
Sector catalysts continue to shape price behavior. On December 17, the Depository Trust & Clearing Corporation announced plans to tokenize U.S. Treasuries on the Canton Network. The news drove a roughly 25% rally in Canton Token (CC) and lifted sentiment across the broader real-world-asset market. Ondo, one of the leading issuers of tokenized Treasuries via products such as USDY and OUSG, benefited from this RWA re-pricing.
Tokenized real-world assets now total roughly $19 billion, tripling since 2024, with about $9 billion concentrated in U.S. Treasuries. Ondo’s approximately $830 million exposure to tokenized Treasuries positions it at the center of that market, acting as a liquidity gateway for both institutional and retail investors seeking on-chain yield.
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A project-specific catalyst is also in play. Ondo Finance has confirmed plans to launch tokenized U.S. equities and ETFs on Solana in 2026, targeting non-U.S. users who want 24/7 access to custody-backed assets.
Solana’s high throughput and low transaction fees could expand user participation and potentially redirect a portion of Ondo’s existing equity volume to Solana. The expansion also reinforces ONDO’s governance and coordination roles across multiple chains.
On the usage side, total value locked has risen to around $1.93 billion, while the market-cap-to-TVL ratio remains compressed. This suggests protocol activity is outpacing token price appreciation, a divergence that typically attracts the attention of both fundamental investors and short-term traders.
ONDO Price Outlook: Analysts Highlight Clean HTF Structure
ONDO price trades near $0.379, with intraday action confined to the $0.367–$0.3838 range. The token remains down 76.45% over the past year and 71.85% year-to-date, well below its all-time high of $2.14 from December 2024 and above its all-time low of $0.08355 from January 2024. The broader chart continues to reflect persistent weakness through 2025.
Analysts are concentrating on the higher-time-frame structure. The Panda stated that “HTF is looking really clean here,” outlining a potential flat pattern with a standard zig-zag formation nearing completion.
He highlighted alignment at the one-to-one Fibonacci extension, a key volume node, and the 0.707 retracement, concluding, “If you’re looking for longs, it doesn’t get much cleaner than this.” His interpretation suggests the prior downside leg may be exhausted if current levels hold.
From a structural perspective, the upper end of the recent range near $0.3838 represents immediate resistance, while $0.367 marks nearby support and short-term invalidation.
ONDO price continues to trade below key trend averages from the 10-day through the 200-day, consistent with a longer-term downtrend, while increasing volume suggests a return to participation. A sustained move above $0.3838 would support the bullish higher-time-frame case, while a decisive break below $0.367 would leave the broader downtrend intact.
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