U.S. Treasuries surged 7,000% since 2023, led by ONDO’s growth this year. But despite support at $0.90, reversal patterns hint at possible downside.
Ondo Finance [ONDO] has been down by 2% on the day, but still leading other Real World Assets (RWA) coins. The altcoin was not left out in the recent decline across the broader market that has extended to stocks.
Tokenization of RWAs has recently grown exponentially since the start of Trump’s second term. Momentum grew after the White House Bitcoin report mentioned ONDO, positioning the altcoin as a leader in this space.
Per a post by Dami Defi on X, U.S. treasuries tokenized on blockchain had grown by about 7000% in only two years. The category was led by BlackRock, followed by ONDO, which surged by 120% since the start of 2025.
Ethereum [ETH], Chainlink LINK], and Solana [SOL] were the leading layers for tokenizing. Messari highlighted that ONDO had grown to over $1.3 billion AUM, which was about 33% of all tokenized assets.
Its stablecoins issued on Solana blockchain grew to $250 million, accounting for about 64%.
This showed ONDO was dominating deployment of RWAs which was expected to hit $30 trillion by 2034, as per Standard Chartered.
Onchain data from Arkham Intelligence showed that a whale was busy accumulating the altcoin under $1 valuation. Their wallet longed about 1.35 million ONDO equivalent to $1.26 million at the time of writing.
This came as the leadership expanded minting of stocks to CoWSwap, as per data from EtherScan. They actively tested by deploying American Express on ONDO using CoWSwap.
The expansion aligned with ONDO’s goal of easing tokenization while ensuring there was enough reach. That way, more protocols onboarded, and user growth could follow since they directly correlate.
Despite this huge milestone in terms of tokenizing and chain activity, ONDO price was stalling. Its price had formed two bearish reversal patterns, suggesting more downside potential was due.
Initial pattern led to a price drop from $1.15 to $0.85. The second has seen ONDO drop from $1.10 to $0.90, where it set up a floor.
Still, the ability of $0.90, holding was dependent on wider market reaction, especially for Bitcoin [BTC].
With the Chaikin Money Flow (CMF) at 0.17 and in an uptrend, it signaled capital inflow. This supported the aforementioned capital inflow from the whale’s wallet.
The heads and shoulders pattern hinted at further drops. Therefore, revisiting $0.85 could not be ruled out. However, the anticipation was for the zone to hold for a rebound. Failure could invalidate a potential reversal.
