Ondo Finance has taken a significant step by announcing the launch of tokenized stocks and ETFs, which could influence its trajectory and the market overall.
Launch of Tokenized Stocks and ETFs
Ondo Finance announced the launch of tokenized stocks and ETFs, bringing over 100 U.S. stocks onto the blockchain. This initiative includes companies known as the 'Mega 7' valued at $19 trillion. Tokenized versions of companies actively trading on the stock market are now available on blockchain.
Impact on the Market and Opportunities
Analysts suggest that the ability to tokenize stocks on the blockchain may resolve issues such as high fees, limited access, and strict trading hours. The U.S. securities market, worth around $65 trillion, can be leveraged in new crypto forms. Ondo plans not only to adapt its model but also expand beyond Ethereum to Solana and BNB Chain.
Price Prospects for ONDO
Despite the recent announcement, the ONDO price hovers around $0.91. The project has around 160,000 holders and 375,000 watchlist additions. Analysts point to potential price increases up to $2.15 if the current upward structure and trends remain intact.
The launch of Ondo Finance's tokenized stocks may signify a new phase in integrating traditional and crypto finance, offering new models for investors and potential shifts in the ONDO token's price.
