Ondo overtakes BlackRock’s BUIDL – Is tokenized yield finding a new favorite?

Real-world asset tokenization has accelerated, and most chains are scrambling to get a share of the pie. As AMBCrypto earlier reported, the total value tokenized has so far exceeded $39 billion.

Amid this record-breaking run, ONDO has become one of the leading players, especially for the US tokenized treasuries.

  Ondo’s USDY overtakes BlackRock’s BUIDL.

In a major shift in power dynamics, Ondo’s USDY overtook BlackRock’s BUIDL to become the largest tokenized US Treasury product. Ondo’s USDY total asset value surged 4.15% to $2.37 billion.

The asset’s value rose, largely driven by a growing number of holders. RWA.xyz data showed that the total number of holders rose 5.43% to 19,546 over the last 30 days. 

USDY’s growth far exceeds BlackRock’s BUIDL’s over the past 30 days; BUILD’s Total asset value dropped 4.7% to $2.17 billion. 

The same was true for the number of holders. Total holders plunged 2.88% to 101. Circle’s USYC even saw a steeper drop in the number of holders. Circle’s USYC: the number of holders dropped 3.3% to 29.

What does it mean for the greater Ondo ecosystem?

The growth in Ondo’s USDY suggests that more investors are now seeking tokenized yield-bearing assets. The assets overtaking others imply that more investors are more confident in ONDO than in others.  

At the same time, this adoption could strengthen Ondo’s position in the Sector while continuing to attract more users.

In fact, overall, ONDO tokenized assets have emerged as one of the most sought-after. RWA.xyz data showed that ONDO tokenized assets have surpassed $4 billion in value.

At the same time, the total number of holders is nearing 600k, currently holding at  559.7k after a 10% surge over the last 30 days. 

Tokenized US treasuries on a record run

Despite the growth, there’s more room for growth, as it accounts for a small share of the total value of tokenized US treasuries. 

AFME estimates that the total value of tokenized US Treasuries has climbed to $14.94 billion, according to Cointalk. This marks a 64% increase YTD.

Such a surge in treasuries suggests that tokenized traditional financial assets are gaining traction and are now becoming part of the crypto ecosystem.

What about crypto

It’s important to draw a thin line between growing traction for tokenized US Treasuries and crypto. In fact, the growing demand for these assets suggests investors are leaning more toward lower-risk assets rather than buying crypto.

For ONDO in particular, the value of tokenized treasuries doesn’t automatically translate into demand for ONDO. In fact, ONDO has been in a downtrend since late September, breaching $0.4 support and falling to a low of $0.39.

Final summary

• Ondo’s USDY overtook BlackRock’s BUIDL to become the largest tokenized US with a total asset value of  $2.37 billion.
• The total value of tokenized US Treasuries has climbed to $14.94 billion, marking a 64% surge YTD.