ONDO Price Lags as TVL Reaches $2.9B and Revenue Climbs: What’s Next?

Ondo Finance posts $49M in annualized revenue and a $2.9B TVL high. Yet ONDO still trades near $0.27. Here is what the data shows.

Ondo Finance is recording some of its strongest on-chain numbers to date. 

TVL has crossed $2 billion, hitting a new all-time high, while annualized revenue approaches $49 million. Yet the ONDO token trades near $0.27, still deep below its all-time high price of around $2.14. 

Crypto analysts describe the situation as an unusual disconnect between protocol growth and token price. Besides, a partnership with Franklin Templeton adds weight o the project.

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ONDO TVL Surges to $2.9B While Token Price Lags Behind

On-chain data tells a compelling story. 

Ondo Finance’s TVL has climbed to approximately $2.919 billion, a fresh all-time high. Yet the token currently trades around $0.27, down over 80% from its peak of roughly $2.14.

Crypto trader Tanaka highlighted this gap in a widely shared post. 

He pointed out that the protocol’s market cap sits near $1.31 billion, giving it an MC/TVL ratio of about 0.45. Moreover, he noted this level is extremely rare among top-tier DeFi protocols and often signals underpricing.

Tanaka also shared revenue figures. Ondo generated approximately $15.2 million in fees during the first two months of 2026 alone. That puts annualized revenue near $48.95 million, against a market cap of just $1.3 billion.

He added that tokenized equities TVL grew 27% in a single month, with cumulative volume crossing $7 billion to $13 billion in under six months. Ondo holds roughly 58% to 60% market share in tokenized stocks.

Analysts Spot a Descending Channel Breakout on the Daily Chart

Technical analysts are also watching ONDO closely. 

Chart account ZAYKCharts, which commands over 27,000 followers, posted a daily timeframe analysis showing a breakout above a multi-month descending channel. The chart, shared in early April 2026, places price action near the $0.27 to $0.29 range.

The account expects a bullish wave to follow the channel violation. The pattern formed after a prolonged series of lower highs and lower lows stretching back through mid-2025.

Per the latest CoinGecko data, ONDO is trading at $0.2729. 

The token recorded a 3.21% gain in 24 hours and a 4.48% rise over the past seven days. Trading volume over the same 24-hour period reached approximately $85.9 million.

Price targets shared by analysts range from $2.10 to $3.40. That represents a potential upside of seven to twelve times current levels if those targets are met.

Franklin Templeton and Ondo Finance Target Tokenized ETF Market

As earlier reported by LBN, Franklin Templeton and Ondo Finance are pushing into tokenized ETFs on a global scale. The partnership aims to bridge traditional finance with decentralized infrastructure. 

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Franklin Templeton plans to offer tokenized versions of selected Franklin ETFs that trade around the clock using crypto wallets.

The design removes the need for brokerage accounts or standard market hours. Investors would gain fund exposure directly through on-chain access. This positions Ondo at the center of institutional tokenization efforts.

The collaboration signals growing confidence from legacy financial firms in blockchain-based asset management. For Ondo, it adds credibility to its already dominant position in the tokenized treasury and equities space.

The post ONDO Price Lags as TVL Reaches $2.9B and Revenue Climbs: What’s Next? appeared first on Live Bitcoin News.