Ondo

Maple

Maple Finance

Real

<div class="light-yellow-block"><strong>Key Takeaways:</strong><ul><li><strong>ONDO surged over 18% in 24 hours and more than 50% week-on-week, trading around $0.40.</strong></li><li><strong>Ondo Finance completed a landmark settlement pilot with J.P. Morgan, Mastercard and Ripple.</strong></li><li><strong>Protocol <a class="wpg-linkify wpg-tooltip" rel="noopener noreferrer nofollow">TVL</a> exceeded $3.5 billion with Q1 2026 revenue hitting $13.26 million.</strong></li><li><strong>Tokenized Chinese equities on BNB Chain saw market cap growth of over 2,800%.</strong></li></ul></div><p>The immediate catalyst came from a pilot transaction completed jointly with Kinexys, the payments arm of J.P. Morgan, alongside Mastercard and Ripple.</p><h2 id="j-p-morgan-mastercard-and-ripple-at-the-same-table-and-the-transaction-closed-in-5-seconds">J.P. Morgan, Mastercard and Ripple at the Same Table – and the Transaction Closed in 5 Seconds</h2><p>For the first time, tokenized U.S. Treasury securities were redeemed atomically – meaning simultaneously and indivisibly – across four separate infrastructure layers. The transaction ran on the XRP Ledger, with Ripple’s RLUSD handling settlement. The entire process took under five seconds, compared to a traditional procedure that requires days.</p><blockquote class="twitter-tweet"><p>Today, Mastercard, <a href="https://twitter.com/OndoFinance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@OndoFinance</a>, Kinexys by <a href="https://twitter.com/jpmorgan?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@JPMorgan</a>, and <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> successfully completed a landmark transaction connecting a public blockchain with interbank settlement rails.</p><p>Together, we’re laying the groundwork for 24/7 global markets that never close. <a href="https://t.co/UddCbUl7zR" rel="noopener noreferrer nofollow">pic.twitter.com/UddCbUl7zR</a></p><p>— Mastercard (@Mastercard) <a href="https://twitter.com/Mastercard/status/2052096615771484445?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 6, 2026</a></p></blockquote><p>The participation of J.P. Morgan and Mastercard in this kind of transaction signals that institutional infrastructure for tokenized assets is no longer in an experimental phase. According to <a href="https://www.prnewswire.com/news-releases/ondo-kinexys-by-jp-morgan-mastercard-and-ripple-complete-first-cross-border-cross-bank-redemption-of-tokenized-us-treasuries-302764324.html" rel="noopener noreferrer nofollow"><strong>PR Newswire</strong></a>, this was the first cross-border, cross-bank redemption of tokenized Treasuries of its kind.</p><p>$13 Million in Revenue, 60% Market Share – The Numbers That Separate Ondo From Its Competitors</p><p>Q1 2026 revenue for Ondo Finance reached $13.26 million, while <strong><a href="https://defillama.com/protocol/ondo-finance" rel="noopener noreferrer nofollow">TVL climbed past $3.5 billion</a></strong>– a roughly 35% increase from the $2.6 billion recorded at the start of the quarter. For context: Centrifuge reported approximately $9.5 million over a comparable period, Maple Finance around $7.3 million, and Mantra $3.9 million. Ondo currently controls over 60% of the tokenized equity market, with trading volumes exceeding $2 billion in Q1 alone.</p><p>The protocol expanded its product lineup to over 200 tokenized stocks and ETFs on the Solana network and secured EU passporting rights, allowing it to offer tokenized products across more than 30 European markets without going through separate regulatory processes in each jurisdiction. On the other side of the world, tokenized Chinese equities on BNB Chain recorded market cap growth exceeding 2,800% – a figure that reflects demand well beyond the U.S. Treasury niche the protocol built its reputation on.</p><div class="read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light"><h5 class="text-uppercase border-bottom mb-3 pb-1 d-none d-md-block">READ MORE:</h5><a class="article row text-decoration-none" href="https://coindoo.com/market/xrp-breaks-two-supports-at-once-what-comes-next-is-the-real-question/" rel="noopener noreferrer nofollow"><div class="contentRight col-4"><span class="imgContainer mt-0"><img class="image img-defer" src="https://coindoo.com/wp-content/uploads/2025/12/xrp-ripple-img398472.jpg"></span></div><div class="contentLeft col-8"><h4 class="title mb-0">XRP Breaks Two Supports at Once: What Comes Next Is the Real Question</h4></div></a></div><h2 id="1-94-billion-new-tokens-hit-circulation-and-the-market-absorbed-them-without-a-dump">1.94 Billion New Tokens Hit Circulation – and the Market Absorbed Them Without a Dump</h2><p>One detail that did not receive enough attention: in early 2026, approximately 1.94 billion tokens representing 19% of total supply entered circulation through a scheduled unlock. The fact that the price not only held but continued upward suggests that this supply was absorbed by buyers without meaningful sell pressure.</p><p>That clears one of the more persistent mechanical concerns that had weighed on the asset for months. Ondo is also<strong><a href="https://www.dtcc.com/news/2026/may/04/dtcc-advances-development-of-new-tokenization-service" rel="noopener noreferrer nofollow"> participating in the DTCC Industry Working Group</a></strong> alongside BlackRock and Goldman Sachs – a placement that puts the protocol in a different tier of institutional visibility than most of its RWA competitors.</p><h2 id="rsi-above-82-macd-in-bullish-territory-the-chart-confirms-but-also-warns">RSI Above 82, MACD in Bullish Territory – the Chart Confirms but Also Warns</h2><p>On the 4-hour chart, ONDO has been printing a consistent sequence of higher lows and higher highs since late April. RSI sits at 82.11, with the 14-period moving average at 70.84 – both deep in overbought territory.</p><p>However, MACD remains positive with a bullish cross intact and the histogram continuing to expand, meaning buyers have not yet lost control of short-term momentum. A divergence between RSI and MACD at these levels typically points toward consolidation rather than a full reversal, but the setup warrants caution for anyone entering at current prices.</p><p><img class="aligncenter size-full wp-image-180523" src="https://coindoo.com/wp-content/uploads/2026/05/chart-ondo-1924591295.jpg" alt="Ondo tradingview chart - 08.05.2026" width="1280" height="671"></p><p>On the daily chart, traders are watching four key levels that each served as breakdown points during last year’s downtrend: $0.46, $0.70, $0.97 and $1.16. Reclaiming $0.46 on volume would be the first meaningful confirmation that the cycle low is behind the asset.</p><h2 id="if-the-governance-vote-passes-ondo-is-no-longer-just-a-governance-token">If the Governance Vote Passes, ONDO Is No Longer Just a Governance Token</h2><p>The most consequential near-term event for ONDO’s valuation has nothing to do with price charts. A governance vote expected in H2 2026 will decide whether a fee-switch mechanism routes a portion of protocol revenue to token holders or funds buybacks.</p><p>Currently, ONDO carries no direct cash flow rights – it is a governance instrument and nothing more. If the vote passes, a protocol generating over $48 million in annualized revenue at current TVL levels would begin distributing value directly to holders. That distinction – between a speculative governance asset and a yield-bearing protocol token – matters considerably to the institutional allocators whose capital has been driving this rally in the first place.</p><p><em><strong><span>The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or <a rel="noopener noreferrer nofollow">cryptocurrency</a>. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.</span></strong></em></p><p>The post <a href="https://coindoo.com/market/ondo-surged-50-in-a-week-here-are-the-three-catalysts-behind-it/" rel="noopener noreferrer nofollow">ONDO Surged 50% in a Week – Here Are the Three Catalysts Behind It</a> appeared first on <a href="https://coindoo.com" rel="noopener noreferrer nofollow">Coindoo</a>.</p>

ONDO Surged 50% in a Week – Here Are the Three Catalysts Behind It

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