Recently, the tokenization of real-world assets (RWA) market has experienced an astonishing rise, with the tokenization scale of US Treasury bonds soaring by approximately 7000% since 2023. In this wave, Ondo Finance (ONDO) has stood out remarkably, becoming a leader in the RWA token space.

However, despite ONDO's assets under management (AUM) exceeding $1.3 billion and occupying a significant share of the tokenization market, its token price has not risen correspondingly, presenting an interesting paradox. Recently, ONDO's price even experienced a 2% decline but still found support around $0.90.

It is worth noting that this trend of tokenization is not limited to a single asset. Blockchain platforms such as Ethereum, Chainlink, and Solana are also playing important roles in driving this process. Especially under the stimulation of certain favorable policies, such as the mention of ONDO in the White House Bitcoin report, which has injected new vitality into this field.

However, the market volatility still exists. The recent decline in the market has spread to the stock market, and the RWA Token has not been able to remain unscathed. Nevertheless, ONDO still maintains its leading position relative to other RWA tokens.

Analysts pointed out that although ONDO is currently supported near $0.90, the reversal pattern that has emerged technically suggests there may be further downside risk. This price performance, contrasted with the rise in its asset scale, has sparked deeper reflections in the market regarding the valuation model of RWA tokens.

With the continued development of the tokenization trend, investors and market participants need to closely monitor the performance of RWA tokens such as ONDO. This is not only related to investment opportunities in individual assets but also serves as an important window to understand the dynamics of the entire tokenization market. In the future, finding a balance between asset scale rise and token value will become one of the key challenges faced by this emerging market.