Tokenized-Stock Market Reaches $3.9 Billion as ONDO Tests Key Levels

The tokenized stock market has reached a total valuation of $3.9 billion, with three major issuers—Ondo Finance, xStocks, and Binance bStocks—collectively accounting for $2.88 billion or 74% of the sector. Ondo Finance currently leads this segment with $992.3 million in market share, followed closely by xStocks at $968 million and Binance bStocks at $920.4 million. While these figures highlight the growing scale of blockchain-based exposure to traditional equities, analysts caution that market capitalization does not directly correlate to liquidity, revenue, or value accrual for the ONDO governance token. Technical analysis by Giannis Andreou suggests potential support levels for ONDO between $0.44 and $0.46, with a conditional upside target near $0.70 if resistance levels are cleared. These projections remain speculative, as the analysis emphasizes that market cap metrics do not reflect the underlying trading volume or financial health of the protocols. The data underscores the concentration of the tokenized stock market among a few dominant players. Investors are advised to distinguish between the growth of tokenized asset products and the price performance of associated governance tokens.