Ondo (ONDO) is making a placing paradox. The token value has fallen greater than 80% from its all-time excessive (ATH), but complete worth locked (TVL) has reached a brand new file.
This divergence raises questions in regards to the challenge’s true potential. At the identical time, business leaders are projecting a optimistic outlook for the tokenization sector in 2026.
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Ondo Prices Drop Sharply After Unlocking
Ondo is a decentralized finance (DeFi) protocol centered on the tokenization of real-world assets (RWAs). The protocol permits customers to entry conventional monetary merchandise. These embrace US Treasury bonds, credit score funds, and tokenized equities on the blockchain.
BeInCrypto Price information exhibits that ONDO fell from a peak above $2.1 to round $0.35. This represents a decline of greater than 80%. In early 2026, ONDO continued to set decrease lows and confirmed no clear indicators of restoration.
The damaging value motion could stem from token unlock stress. Ondo just lately completed an unlock of 1.94 billion tokens on January 18. This quantity accounted for 57.23% of the issued provide.
The sudden enhance in circulating provide added promoting stress and heightened investor considerations. Since the unlock, ONDO has dropped one other 10%.
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Ondo’s January Paradox: Is The Project Undervalued?
However, Token Terminal information exhibits robust momentum within the tokenized fairness sector. The complete market worth of tokenized shares has reached a brand new ATH of $441.2 million. Ondo Finance leads the sector with a 54.4% market share.
Charts point out that tokenized fairness market capitalization has surged since September final yr. This growth occurred even because the broader crypto market entered a downturn over the identical interval.
The information means that whereas many retail buyers have withdrawn capital, enterprises proceed to allocate funds to tokenized equities.
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In addition, Ondo’s TVL elevated sharply in January. It reached an ATH above $2.5 billion, in accordance with DefiLlama information.
TVL represents the entire worth of belongings that customers lock in a protocol. It displays person participation and confidence. The distinction between falling market costs and rising capital inflows has led analysts to suspect that Ondo is undervalued. Sentiment and emotion typically drive market costs, inflicting retail buyers to miss fundamentals.
“The current fear in the markets is a blessing in disguise, especially for projects like Ondo,” investor Kyren said.
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This paradox turns into extra pronounced as tokenization emerged as a central theme at Davos 2026. Global leaders expressed optimism about asset tokenization. They described it as a bridge between conventional finance and DeFi.
Exchange buying and selling information additionally exhibits that regardless of declining costs, many whale buyers are treating the pullback as a possibility.
CryptoQuant’s spot common order measurement information highlights the dominance of enormous whale orders in latest months, proven in inexperienced on the chart.
This sample means that ONDO could face a powerful restoration as soon as promoting stress from unlock considerations fades and market worry subsides.
