Ondo is currently trading at $0.2596 on February 23, 2026, down 3.7% over the past 24 hours, with trading volume falling 7.68% to $31.99 million.
Over the past week, the token declined 5.38%, reflecting short-term market volatility. Despite this, ONDO continues to attract investor attention due to its rapid ecosystem growth and strategic partnerships in the real-world asset (RWA) tokenization sector.
The recent market movement comes as part of a broader consolidation in the crypto markets, where investors weigh short-term fluctuations against long-term adoption trends. Analysts note that these dips are temporary and may present opportunities for investors seeking exposure to tokenized real-world assets.
ONDO Emerges as Top RWA Tokenization Platform
Crypto analyst Rendoshi reports that ONDO, now recognized as the world’s largest RWA tokenization platform, has experienced total value locked (TVL) growth exceeding 400% annually.
TVL increased from near zero in mid-2023 to more than $2.5 billion by early 2026, signaling robust adoption and ecosystem expansion. Early growth was steady and organic through 2024, reaching $500 million by mid-year and surpassing $1 billion in early 2025.
Since then, the platform has followed a stair-step growth pattern, with rapid surges and brief consolidation phases, indicative of recurring waves of capital inflows driven by expanding utility, higher yields, and increased market optimism. The sharp spike in early 2026 reflects peak investor interest, followed by a natural pullback.
Phemex Integrates with Ondo Finance
Adding to ONDO’s bullish outlook, cryptocurrency exchange Phemex recently completed its integration with Ondo Finance, allowing more than 10 million users to access 14 tokenized U.S. stocks and ETFs directly on-chain. The digital assets include major equities such as NVIDIA, Tesla, Apple, Amazon, and the Nasdaq 100 ETF.
The integration allows users to hold and trade tokenized versions of these stocks within a blockchain environment, offering faster settlement, increased liquidity, and on-chain transparency. Phemex says the initiative aligns with its strategy to bridge traditional finance and decentralized finance, enabling seamless exposure to conventional markets for crypto investors.
Founded in 2019, Phemex provides spot and derivative trading, copy trading, and wealth management services. By integrating tokenized real-world assets, the exchange strengthens its position as a hybrid platform connecting crypto-native users to traditional financial instruments.
For ONDO, this partnership reinforces its role as a foundational platform in the tokenized asset economy, demonstrating long-term adoption potential despite short-term price volatility.
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