ONDO and MKR are 'profitable' – these figures tell you why

ONDO’s price rose as interest in the Real World Asset sector grew.
MakerDAO continued to dominate the space, with the highest TVL.

Ondo Finance [ONDO] has seen a massive price increase over the past week, largely due to whale behavior regarding this token. However, new data suggested that this uptick could be part of a larger trend.

Contents

Welcome to the real world Don’t forget Maker

Welcome to the real world

The sudden interest in ONDO could be caused by the interest in the RWA (Real World Asset) sector. For context, the RWA sector in crypto stands for Real World Asset Tokenization. It bridges the gap between traditional finance and crypto by creating digital tokens that represent real-world assets such as real estate, commodities or even intellectual property.

This allows these assets to be bought, sold and traded on a blockchain platform, potentially increasing their liquidity and accessibility to investors. It is seen as a way to modernize traditional financial markets by leveraging the transparency and efficiency of blockchain technology.

Ondo Finance has emerged as the fourth largest holder of Blackrock’s Ethereum-based tokenized fund, BUIDL, with assets totaling $15 million.

Thanks to the efforts of ONDO and similar protocols, the total of tokenized US Treasuries on public blockchains has reached $1 billion. Within just a week, Blackrock’s BUIDL saw an astonishing 400% increase, skyrocketing from a supply of 40 million to 240 million.

Source:

Don’t forget Maker

Besides Ondo Finance, other networks such as MakerDAO[MKR] have also shown high growth rates. At the time of writing, MakerDAO had collected the largest amount of TVL (Total Value Locked) on its network.

It was the leader in this area and despite the protocol’s significant resources, the price of the MKR token had fallen by 7.28% over the past month.

Source: DeFi Lama

Due to the huge difference between the value collected by RWA protocols and their market capitalization, market speculators believe that these tokens may be undervalued.

Realistic or not, here is MKR’s market cap in BTC terms

At the time of writing, ONDO was trading at $0.9011 and its price was up 0.84% over the past 24 hours. MKR, on the other hand, was trading at $3,353.13 and its price was up 3.64% over the same period.

Most holders of these tokens were profitable, as evidenced by their high MVRV ratios. Only time will tell whether these addresses will sell their holdings or continue to hold them in the future.