ONDO Surges as Tokenized Stock Trading Volume Reaches New Heights
While most altcoins are lying flat in the crypto market, ONDO has been steadily rising over the past three weeks. Its price increased by nearly 30% from $0.31 to $0.40 during this time period. The reason behind this rise is not just market maker activity or market cap management but also due to its unique position in the market.
ONDO's position is different from other trading platforms like Hyperliquid and Binance, which are competing for trading volume. Instead, ONDO is supplying the ingredients for tokenized stock contracts on these platforms. A significant portion of the underlying assets for these contracts comes from Ondo Global Markets, which holds over 70% market share in tokenized stock issuance.
The recent DTCC news has further contributed to ONDO's price increase, with its value rising by 18% in a single day. This is because ONDO's on-chain US stock certificates are issued via DTCC's tokenization service and appear on the same participant list as BlackRock, J.P. Morgan, Goldman Sachs, and Nasdaq.
ONDO has also launched its own trading platform, Ondo Perps, which offers perpetual contracts for US stocks, ETFs, and commodities with up to 20x leverage. This platform integrates issuance and trading, eliminating the need for converting assets into USDC or USDT as margin.