Ondo crypto hits $1B TVL – Can it defend its tokenized stock lead?
Ondo’s tokenized-stock market grows in scale and activity as Binance captures more trading outside traditional market hours.
Tokenized equities are gaining scale, and Ondo Finance [ONDO] stocks now provide the clearest measure of how quickly that market is expanding.
Notably, recent data shows that participation and capital growth are moving at different speeds. At press time, the number of holders doubled within thirty days to 1.33 million, broadening the number of wallets with tokenized-stock exposure.
Source: RWA.xyzAt the same time, the total monthly transfer volume jumped by 194% to $23.49 billion, indicating that tokens were being transferred more often. This was also indicated by an increase of 41.6% in active addresses to almost 601k.
Such an activity means that the number of people participating in transactions has greatly increased along with their ownership of tokens.
Yet distributed value rose only 4% to $2.33 billion, meaning underlying holdings expanded far slower than transfers. Within this structure, Ondo Stocks accounts for $1.01 billion in TVL, giving its milestone greater context.
The divergence suggests current market expansion reflects rising turnover and participation more strongly than equivalent growth in capital held.
Ondo crypto’s trading activity expands
That gap between capital held and activity becomes more meaningful when Ondo’s own turnover shows how frequently liquidity circulates.
Cumulative trading volume reached $27 billion, roughly 26 to 27 times TVL, indicating each dollar of current assets supports substantial secondary activity. Approximately $18 billion was traded on central exchange platforms. This liquidity boost provides tokenized stock access to existing trading infrastructure and greater distribution channels.
Meanwhile, monthly transfers within the ecosystem increased by 25.37% to $2.82 billion. Thus, transactional activities are growing, rather than relying on previous levels of trading being easier. This liquidity matters because easier circulation can reduce friction as more tokenized assets enter the market.
Holder numbers also surpassed 200,000, rising 20% monthly, widening participation alongside trading. Sustaining both trends would strengthen Ondo’s market depth.
Binance gains a 24/7 trading edge
Trading activity provides another measure of how competition is developing across tokenized equities, particularly outside traditional U.S. sessions. Over six weeks, 51% of trading occurred outside regular market hours, confirming substantial activity when traditional exchanges were closed.
For instance, according to a report by DeFiLlama, Binance traded 69% of all combined trading during U.S. exchange hours. However, it rose to 82% of the combined trading volumes during those overnight hours.
Notably, Binance’s share rose to 94.4% of all combined weekend trading volumes and averaged 92.8% of all combined weekend trading volumes during approximately 350 weekend hours.
This concentration coincided with bStocks surpassing $500 million in AUM and recording over $2 billion during one weekend. Ondo still leads in absolute asset value, but Binance now holds a larger share of off-hours trading.
All in all, this separates asset-based leadership from trading-volume dominance.
Final Summary
- Ondo Finance leads tokenized equities by asset value, backed by $1.01 billion in TVL and $27 billion in volume.
- Binance dominates off-hours trading, separating ONDO’s asset leadership from the emerging 24/7 liquidity race.
