$ONDO Crashes 60% Amid Altcoin Bloodbath—Can Institutional Backing Halt the Slide?
The altcoin market has embarked on a sharp correction phase, with Ondo Finance's native token $ONDO being among the hardest hit. The aggregate altcoin market cap fell from $1.6 trillion in December 2024 to $950 billion, a 41% drop, as per a Coinbase market report published April 15.
$ONDO has fallen more sharply, plummeting more than 60% from its December high of $2.14 as risk sentiment disappears in the cryptocurrency world.
Ondo Finance Vision: Institutional-Quality RWAs on Blockchain
Ondo Finance was established in 2021 with a mission to take real-world assets (RWAs)—such as U.S. Treasuries and money market funds—on-chain through blockchain technology.
In February, Ondo launched its own Layer-1 blockchain for RWA tokenization, making it a trailblazer in the integration of traditional finance and decentralized platforms.
The project has established partnerships with leading institutions, such as Franklin Templeton, BlackRock, McKinsey, Google Cloud, and PayPal. It also partnered with Mastercard's Multi-Token Network (MTN) and launched the Ondo Short-Term U.S. Treasuries Fund (OUSG) as its initial RWA offering within MTN.
1/ Today, we’re thrilled to announce Ondo Chain, our new Layer 1 blockchain purpose-built for institutional-grade RWAs.
— Ondo Finance (@OndoFinance) February 6, 2025
Design advisors for the chain include new members of the Ondo Ecosystem: Franklin Templeton, Wellington Management, WisdomTree, Google Cloud, ABN Amro, Aon,… pic.twitter.com/a35GHB7OFW
Political & Strategic Backing
Ondo Finance picked up surprise political momentum following Donald Trump Jr.'s address at the Oondo Finance Summit, while World Liberty Financial, a Trump-associated firm, had invested $460,000 in $ONDO mere days prior to the event.
The platform also further embedded its DeFi presence through integration with Aptos, which reached over $1 billion in stablecoin TVL, further solidifying Ondo's place within the stablecoin and DeFi space.
As of March, $ONDO crossed $1 billion in TVL, as per DeFiLlama, on par with institutional behemoths such as BlackRock in the RWA sector.
Thank you, Donald Trump Jr. (@DonaldJTrumpJr), all of today’s outstanding speakers, and our fantastic guests both in-person and online, for joining us at the Ondo Summit.
— Ondo Finance (@OndoFinance) February 6, 2025
Nathan Allman (@nathanlallman), Founder & CEO of Ondo Finance, is taking the stage one last time to deliver…
Technical Outlook: Testing Make-or-Break Support
Trading at close to $0.8219 currently, $ONDO is down by approximately 2.8% on the 4-hour chart. It is holding on to local support between $0.81–$0.82, supported by the 100-period simple moving average (SMA) at $0.8161.
Yet, the token's larger trend is still bearish, with price action remaining below the 20, 50, and 200 SMAs, indicating sustained downside pressure.
The resistance range of $0.88–$0.90, which had earlier witnessed institutional demand, still refuses to accept bullish attempts.
A fall below the current support level might drive $ONDO to the $0.75–$0.77 range, or even the $0.70 level, the point at which the last significant bounce was initiated.
.@Aptos is quietly becoming a hub for stablecoins, recently surpassing $1B in stablecoin TVL.
— Ondo Finance (@OndoFinance) April 11, 2025
But the future isn't just holding dollars onchain—it's upgrading them.
📚 Learn how money moves better on Aptos, and the opportunity it presents for yieldcoins, and Ondo:… pic.twitter.com/6Cow1th7rr
Analyst Take: Can Institutional Momentum Offset Bearish Sentiment?
Though temporarily weakened technically in the short term, analysts maintain that Ondo's increasing institutional alignment and actual use cases would underpin eventual recovery.
Its Global Market GM platform—providing exposure to a broader universe of tokenized assets—could reshape the RWA space, with Ondo potentially eclipsing other DeFi protocols if macroeconomy stabilizes.
But for the moment, traders are waiting anxiously to determine whether major support holds or if another leg lower is at hand.
Also Read: Russian Government Moves to Legalize Crypto Confiscation in Criminal Cases
