What to know:
- Ondo (ONDO) fell 6% after announcing big partnerships with Chainlink and BNB Chain.
- Bearish signals show RSI near oversold and price below key averages.
- Despite strong fundamentals, traders are taking profits amid market fear.
Ondo (ONDO) fell over 6% in the last 24 hours. The drop comes right after a big partnership announcement with Chainlink, thus surprising traders.
Instead, ONDO has gone down because of bearish technical signals, short-term holders taking profits, and a general feeling of risk-off in the crypto market, even though the previous week was green.
Ondo and Chainlink
Earlier this week, Ondo and Chainlink announced a landmark strategic partnership aimed at bringing financial institutions onchain, a big move toward tokenizing trillions of dollars in RWAs. The collaboration combines Ondo’s tokenization infrastructure and assets with Chainlink’s Cross-Chain Interoperability Protocol (CCIP), making it the preferred solution for traditional financial institutions moving assets across blockchains.
Ondo already works with over 100 major financial institutions globally and recently partnered with Kinexys by J.P. Morgan for cross-chain settlement of tokenized assets. Now, with Chainlink, Ondo joins a broader network of institutions including Swift, DTCC, and Euroclear through Chainlink’s corporate actions initiative.
In addition, Chainlink will serve as Ondo’s official oracle provider for its tokenized securities. This means Chainlink’s market data will power the pricing and valuation of Ondo’s tokenized stocks and ETFs, which currently hold over $350 million in TVL and more than $700 million in total trading volume.
Chainlink Co-founder Sergey Nazarov called this collaboration a step toward “the next generation of capital markets,” enabling institutional-grade, programmable, and globally accessible financial instruments onchain.
Ondo on BNB Chain
Additionally, Ondo Global Markets has expanded to BNB Chain, bringing 100+ tokenized U.S. stocks and ETFs onchain. BNB Chain is leveraging its strengths: transaction fees significantly lower than Ethereum, fast confirmation times, and a geographically diverse user base.
Since launching in September, Ondo Global Markets has quickly become the largest tokenized securities platform worldwide, surpassing $350 million in TVL and driving over $669 million in total onchain trading volume.
“RWAs are one of the fastest-growing segments on BNB Chain. Partnering with Ondo marks a key step in bringing high-quality financial products onchain for millions of users,” said Sarah Song, Head of Business Development at BNB Chain.
Nathan Allman, Founder and CEO of Ondo Finance, added: “BNB Chain is home to one of the largest and most engaged global user bases in Web3. Expanding Ondo Global Markets to BNB Chain allows us to bring tokenized U.S. stocks and ETFs to users across Asia, Latin America, and beyond in a fast, cost-efficient, and highly interoperable environment.”
Technical Breakdown
Despite the strong fundamentals, ONDO’s technical outlook has turned bearish. Price slipped below key moving averages, signaling weakening momentum and RSI is approaching oversold levels, suggesting traders are exiting positions aggressively.
The RSI was at 37.24, and ONDO fell below its 30-day SMA ($0.796) and 200-day SMA ($0.899). The price is now testing Fibonacci support at $0.7317. The breakdown set off algorithmic selling and stop-loss orders. If the price closes below $0.7317, it could go down to $0.655 (the 50% retracement level). ONDO is currently trading at $0.6912 at the time of writing.
This setup shows that ONDO may be undervalued right now, but it could still be at risk of more selling pressure if market sentiment doesn’t get better. Trading volume spiked 60% to $165M, suggesting sell-side pressure outweighed partnership optimism. Across the market, risk appetite is fading. The Crypto Fear & Greed Index currently reads 31, indicating “Extreme Fear.”
The Bigger Picture
The partnerships between Ondo and Chainlink and Ondo and BNBChain are still some of the most important ones in the RWA space. It makes it possible for institutions to adopt it on a large scale, which could bring traditional finance and DeFi closer together.
If the partnership starts to show real on-chain activity, like integrations with big banks or the launch of tokenized assets, ONDO could start to pick up steam again. Until then, traders can keep watching from the sidelines.
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