Crypto
Ondo Escalates War Against Binance Over Tokenized Securities
Ondo's latest launch challenges Binance in tokenized securities as both platforms compete for dominance in the growing real-world asset market.
6h ago 4,280
BLOCKINSIDERLoadingOndo's latest launch challenges Binance in tokenized securities as both platforms compete for dominance in the growing real-world asset market.
Two rivals just escalated a quiet war over who owns tokenized Wall Street. Ondo Finance struck recently, launching a feature Binance had teased days earlier.
Binance answered within hours, expanding its own lineup. The battleground is tokenized stocks, and the stakes keep climbing fast.
On July 6, Ondo Finance launched Ondo Perps, enabling tokenized stocks as collateral. Traders can now post equities directly instead of converting them to stablecoins.
Previously, users had to sell or convert tokenized shares before trading derivatives elsewhere. This forced capital to sit idle across separate platforms, reducing efficiency significantly.
Ondo Perps eliminates that friction entirely, letting tokenized holdings work as productive collateral. This positions Ondo as a genuine onchain prime brokerage alternative.
This launch is likely to intensify Ondo's rivalry with Binance over tokenized securities. Just last week, Binance launched a similar feature, though limited by regulation.
Following Ondo's launch, Binance immediately strengthened its own offering considerably. It added 10 new bStocks tokens usable as collateral across its platform.
The additions include Alphabet, Qualcomm, Coinbase, and the SPDR S&P 500 ETF Trust. Western Digital, Corning, Nebius, and three thematic ETFs rounded out the batch.
This matters because Binance and Ondo currently lead the tokenized securities and RWA race. Both platforms are racing to capture the same emerging market.
On-chain data shows bStocks recorded $173 million in trading volume over seven days. Ondo, by comparison, generated $101 million across the same period.
User activity tells a similar story favoring Binance's larger scale currently. Binance's Daily Active Traders sit at 2,860, versus Ondo's 1,214 users.
Ondo's user base remains less than half of Binance's current trader count. That gap highlights Binance's stronger existing distribution and user reach.
Still, this creates a real opportunity for Ondo to close that gap meaningfully. Ondo's collateralization feature is available to all eligible non-U.S. users broadly.
Binance's bStocks offering, by contrast, remains limited due to ongoing regulatory constraints. That restriction could slow Binance's ability to fully capitalize on demand.
If Ondo can convert its broader accessibility into real trading volume, the gap may narrow quickly. For now, both platforms are betting tokenized securities become DeFi's next major battleground.
Ondo trades at $0.3208 and continues moving within a descending wedge, a pattern that often precedes a bullish breakout. The altcoin remains in consolidation as investors await stronger market catalysts.
A decisive move above the wedge's upper trendline would signal improving momentum and attract additional buying interest. Broader cryptocurrency market strength and rising demand for tokenized real-world assets could further support ONDO's recovery in the coming sessions.
The immediate support to monitor sits at $0.3092, aligned with the 23.6% Fibonacci retracement level, which currently serves as the bear market support floor. Holding this level would preserve the existing recovery structure.
However, sustained selling pressure could invalidate the bullish setup. If ONDO loses this support, the next major downside target emerges near $0.2541, where buyers may attempt to establish a stronger base.
A positive market response to Ondo's latest offering could provide the catalyst needed for a breakout. The first objective is clearing resistance at $0.3709, which would confirm strengthening bullish momentum.
Reclaiming $0.3985 would place ONDO above the 61.8% Fibonacci retracement level, reinforcing the recovery trend. Maintaining that level as support could encourage additional accumulation and create conditions for an extended upward move.
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