ONDO TVL Hits New High as Price Slides Toward Demand Zone

Ondo Finance (ONDO) made yet another positive mark just a few days after President Ian De Bode pointed out how institutions were onboarding. The altcoin leading the real-world assets (RWA) sector continued to struggle in its price action, but its fundamentals were rising.

In addition to being recognized by Grayscale, an asset management firm, through its listing, ONDO’s potential was also evident in the Total Value Locked (TVL) and the revenue generated for holders. All these factors were increasing, even though the price remained low at an average of 50 cents at the time of writing.

The price action of ONDO crypto was sliding toward the demand zone, irrespective of strong fundamentals. This highlights the importance of technical strength in determining whether fundamentals can push asset prices higher or vice versa in the event of weakness.

ONDO Crypto TVL Hits Record Highs

The TVL of ONDO crypto on DefiLlama reached another new record high of $1.826 billion just a day after achieving this milestone. ONDO price was, however, struggling.

The TVL has been in a steep upward trajectory since the start of the year, which means 2025 has had the biggest growth. The initial TVL at the start of the year was below $600 million, which translates to more than 3x growth in eleven months.

The rising TVL indicated that holders were locking their ONDO crypto tokens in anticipation for gains through services like staking or network validation. The more capital is locked in a certain cryptocurrency, the better it is for that cryptocurrency, as it shows confidence.

The difference in TVL’s growth while price declined was a divergence signal. Typically, TVL grows together with price, but that was not the case even though there were other positives to note.

ONDO Crypto Holders Revenue: Will Grayscale Listing Power the Gains?

Analyzing the revenue of ONDO crypto holders showed that the figure exceeded $1 million six times in the last eight weeks, according to DefiLlama. The first week of October and the current week of November were the only times the analyzed data did not reach this milestone.

The annualized revenue for holders was nearly $10 million, while the annualized fees surpassed $55 million. Since the price was falling, this meant that holders were earning from other viable services in the tokenized cryptocurrency.

The profits among ONDO holders came as the altcoin got recognition from GrayScale Investment Fund. Grayscale listed ONDO crypto among tokens to watch for gains alongside Aave Protocol (AAVE), Aerodrome (AERO), Curve (CRV), Uniswap (UNI), and Ethena (ENA), among others.

The listing could attract more users since the firm’s activities are not going unnoticed. However, this was not a clear indication of growth, as the altcoin was approaching a key demand zone, which was a decline.

Why Is ONDO Price Struggling Then?

Despite all the strength in the fundamentals, ONDO price was struggling and trading toward $0.50 at the time of writing. The move came after the altcoin broke support levels following rejections at the $1.10 resistance zone, aligning with the entire crypto market.

ONDO crypto price broke the neckline at $0.82 to $0.86, which was of the most recent double top at $1.10. The price was now sitting above the $0.54 to $0.58 zone, a zone that pushed past $2.

This meant that ONDO price was trading at a strategic zone of accumulation that could reverse losses if the same or new buyers stepped in. Conversely, failing to maintain this level would result in additional losses, thus necessitating a return to lower levels.

In summary, ONDO crypto was sliding toward a key demand zone, despite strong fundamentals. It was clear that fundamentals were insufficient to overcome these price losses.