Headline: Ondo’s Solana push lifts TVL to a record — but markets wait to reprice ONDO
Ondo Finance’s December 15 announcement that it will launch tokenized U.S. stocks and ETFs on Solana in early 2026 sent a clear message: the firm is expanding its Global Markets platform beyond Ethereum and BNB Chain, with Solana positioned as the next settlement layer. The reaction in on-chain metrics and prices, however, was mixed.
TVL hits a new high, price does not follow
Following the announcement, Ondo’s Total Value Locked climbed to a fresh all-time high of $1.93 billion — signaling that capital stayed deployed at the protocol level even as traders rotated through the news. Despite growing TVL, ONDO’s market price slid into a $0.36–$0.39 range, briefly touching $0.36. That divergence suggested investors were accumulating or locking liquidity on-chain while the market hesitated to push the token higher.
Technical backdrop: cautious momentum
Technical indicators offered a more cautious picture. ONDO’s daily RSI sat near 34, pointing to persistent bearish pressure after the pullback, and the MACD remained below the zero line — both consistent with downside momentum rather than an immediate bullish reversal. Short-term resistance was visible around $0.50, while a worst-case extension of the downtrend could see levels test toward $0.25. In short: fundamentals (rising TVL) and price action were out of sync, and traders appeared reluctant to reprice ONDO higher without clearer momentum.
Solana reaction: accumulation amid volatility
SOL’s price action on the same day mirrored the cautious tone. Solana briefly dipped below $122 to roughly $117 before buyers stepped in, keeping the token inside a $122–$145 band. Four-hour indicators showed an RSI near 52 and a weak MACD — a neutral-to-accumulation setup rather than a decisive breakout. Notably, Solana-based ETF flows that session totaled $35.20 million — the largest inflow of the week and the second-biggest daily inflow in December — suggesting fresh capital was entering despite short-term price weakness.
What it could mean
- Rising TVL alongside falling or sideways price often indicates capital deployment or accumulation that hasn’t yet been priced in by markets.
- If ONDO clears local resistance near $0.50, momentum could shift and attract buyers; failure to do so could keep the token rangebound or push it lower toward the downside scenario near $0.25.
- Solana’s ETF inflows and neutral on-chain indicators point to gradual accumulation, but a breakout will likely need stronger directional conviction.
Bottom line
Ondo’s move to Solana materially strengthened its product roadmap and drove on-chain growth — but market participants stayed cautious, leaving ONDO’s price disconnected from improving protocol metrics for now. Watch price confirmation around $0.50 for ONDO and continued ETF and on-chain flows for Solana as signals of whether markets are ready to reprice these developments.
Disclaimer: This article is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making any decisions. © 2025 AMBCrypto.
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