ONDO Bleeding in a Weak Market, But Tokenized Stocks and New L1 Could Flip the Entire Narrative

ONDO price sits at $0.24 after sliding from $0.34 in late January. That drop came during a broader market pullback, with Bitcoin under pressure and ETF flows turning negative. ONDO now trades about 88% below its December 2024 peak. On the surface, the chart looks heavy. The deeper story, however, runs through Ondo Finance fundamentals.