Ondo Finance overtakes Sky, leads tokenized RWA market with $4 billion

Ondo Finance, a firm specializing in real-world asset (RWA) tokenization, has become the leading issuer in the sector by market capitalization, according to market data from Token Terminal. Ondo’s issued tokenized assets have reached a combined market capitalization of $4 billion, placing the company ahead of major competitors Sky and Securitize.

Ondo tops tokenized asset rankings

Token Terminal’s latest figures show Ondo Finance now ranks first among tokenized RWA platforms. Sky holds second place with $3.9 billion in tokenized assets, while Securitize follows with $3.4 billion. These three firms collectively represent about 22.5% of the entire tokenized RWA sector, which has a total market capitalization of $50.3 billion.

This growth reflects a rising interest from institutional investors in blockchain-enabled financial products. Tokenization, which allows for traditional financial assets such as U.S. Treasury bonds to be represented digitally on a blockchain, has been rapidly expanding in scope and adoption.

Mini dictionary: Ondo Finance is a digital asset platform focused on tokenizing traditional financial assets, enabling blockchain access to instruments like U.S. Treasury bonds.

Despite this, analysts caution that the market value of tokenized assets managed by a platform should not be confused with the value or performance of the platform’s native token. In the case of Ondo, a distinction remains between the growth of tokenized products and ONDO token price movements.

ONDO price outlook and analyst targets

ONDO, the native token for Ondo Finance, previously surged to a yearly high of $0.60730 after surpassing key technical resistance at $0.44895 identified by cryptocurrency analyst Emilo Crypto Bojan. Following this, Bojan pinpointed $0.80511 as the next notable target, and sees the psychologically important $1 mark as possible in 2026 if momentum persists.

Recent market data indicate that ONDO trades at $0.3578 with a market capitalization of $1.74 billion and a 24-hour trading volume of $71.7 million. Despite achieving a significant rally, the token has retreated below the original breakout level. Analysts highlight the importance of reclaiming the $0.44895 resistance for ONDO’s bullish trajectory to continue.

Emilo Crypto Bojan identified $0.80511 as a potential next stop for ONDO, assuming buyers regain control and the token breaks through earlier resistance, with a longer-term focus on the $1 milestone in 2026.

The $0.44895 resistance remains a critical technical point for traders and market participants. A move above this threshold could restore confidence in a recovery, while a failure to reclaim it may limit further upside in the near term.

Analysts suggest that the broader growth of the tokenized asset sector will play a major role in ONDO’s future. If institutional interest continues to rise, the entire RWA ecosystem could see increased adoption and liquidity.

Tokenization bridges traditional finance and DeFi

The expansion of real-world asset tokenization is restructuring the intersection between traditional financial markets and decentralized finance. By digitizing instruments like bonds and making them accessible on blockchain systems, platforms such as Ondo offer new value opportunities to both companies and investors.

Nevertheless, ONDO’s path to sustained price appreciation will depend on both technical performance and wider adoption of blockchain-based asset tokenization. Achieving new resistance levels could improve investor sentiment. However, further validation from traditional financial institutions and market participants remains important for continued ecosystem growth.