The markets were quick to respond to Ondo Finance launching a version of tokenized stocks. With the introduction of the tokenized stocks, ONDO surged by more than 25 percent, smashing the 50-day MA along the way.
Ondo Finance launches DTTC-backed tokenized stocks
Ondo Finance launched the first tokenized stock representations backed by DTC Tokenized Entitlements through the DTCC Tokenization Service, marking a major milestone in bringing traditional U.S. equities on-chain. The launch includes tokenized versions of Circle (CRCL) and the SPDR S&P 500 ETF (SPY), known as CRCLon and SPYon, with the underlying securities remaining within DTCC’s custody infrastructure.
Unlike synthetic stock tokens, these assets are linked to DTCC-generated digital entitlements, allowing them to move between traditional financial markets and blockchain networks while retaining institutional-grade settlement and custody standards. Ondo is also participating alongside major Wall Street firms such as JPMorgan, BlackRock, Goldman Sachs, Nasdaq, and the NYSE in DTCC’s broader tokenization initiative.
ONDO breaks above 50-day MA
With the launch of the tokenized stock, ONDO cut loose and broke above the 50-day moving average. The surge past the 50-day MA itself is a great achievement in the market, as many traders always have their eyes on this significant level.
Will ONDO hit $0.66?
From a technical point of view, the price has broken from a cup-and-handle pattern. The pattern begins with a rounded, U-shaped decline and recovery that forms the cup, reflecting a gradual shift from selling pressure to renewed buying interest. After returning to the previous resistance level, the asset forms the handle—a relatively shallow pullback that shakes out weaker holders before buyers regain control. A breakout occurs when the price closes decisively above the handle’s resistance, indicating that demand has overwhelmed selling pressure and a new upward leg may be underway.
The traditional price target for a cup and handle breakout is calculated by measuring the depth of the cup—the distance from the cup’s bottom to its resistance—and projecting that same distance upward from the breakout point. If buying momentum remains strong and the breakout is supported by increasing trading volume, the price can rally by approximately the height of the cup, making the pattern one of the more reliable bullish continuation signals in technical analysis. As such, ONDO may reach $0.66.
