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.