Top analyst Tanaka revealed On X that he sold all his Litecoin (LTC) and moved everything into ONDO. He made it clear this wasn’t some impulsive move or panic buy.
This came after spending a lot of time looking through the project, the numbers, and where the growth is actually happening. The more he looked, the more he felt like the market was missing something.
And the more he looked, the more it felt off. The project is clearly gaining ground, but the price is still lagging behind like it hasn’t noticed yet.
Right now, the numbers behind Ondo (ONDO) are hard to ignore. The protocol’s total value locked (TVL) has climbed to around $2.9 billion, marking a new all-time high. Meanwhile, its market cap is sitting at about $1.3 billion. That puts the MC/TVL ratio at roughly 0.45, which is unusually low for a project of this size.
In simple terms, this kind of ratio often suggests the market is undervaluing the project. For many investors, it’s a sign that adoption is growing faster than price.
Another big reason behind the analyst’s decision is ONDO’s position in the real-world asset (RWA) sector. The project is becoming a leader in tokenized stocks, with more than $700 million locked in that segment alone. It’s also dominating tokenized treasuries, holding around $2 billion in TVL.
On top of that, activity on the platform is growing quickly. Tokenized equities have already seen between $7 billion and $13 billion in volume in less than six months. That kind of traction shows real usage, not just hype.
I just sold all my $LTC and went all in on $ONDO | @OndoFinance
— Tanaka (@Tanaka_L2) April 1, 2026
Yeah, I didn’t FOMO. This decision came after I spent a lot of time digging into the project. $ONDO is clearly one of the most undervalued tokens right now.
Why do I say that? Because fundamentals are going up,… https://t.co/ZAC1V5Zupw pic.twitter.com/iGspuK4X7f
ONDO Revenue Growth That’s Hard to Ignore
Not only is the platform increasing in size, but it’s also making money. In fact, Ondo (ONDO) made around $15.2 million in revenue in just the first two months of 2026. The estimated revenue per year would be around $50 million.
For a project with a $1.3 billion market cap, that’s a strong number. It suggests the protocol is already building a solid business, even while the token price lags behind.
What really stood out to the analyst is the gap between fundamentals and price. ONDO is still down more than 80% from its all-time high of around $2.14. At the same time, TVL has grown from about $1 billion to nearly $3 billion.
Even in recent days, growth has been accelerating, with tokenized equities TVL jumping 27% in just one month. Despite all this, the price hasn’t followed.
The analyst believes this is likely due to early investors selling at a loss after losing patience, rather than any weakness in the project itself.
Adding to this view, another crypto account claimed that ONDO now controls around 70% of the tokenized equity market. According to that perspective, the project has quietly taken a dominant position by focusing on real liquidity and infrastructure instead of hype.
The idea here is simple: institutional money doesn’t chase noise, it follows strong foundations. And ONDO seems to be benefiting from that trend.
THE REAL WORLD ASSET WARS ARE OFFICIALLY OVER AND ONDO TOOK EVERYTHING.
— Altcoin Buzz (@Altcoinbuzzio) March 31, 2026
Official data confirms they now violently control exactly 70% of the $950,000,000 tokenized equity market.
They have systematically crushed all combined competitors by providing the absolute frictionless… pic.twitter.com/y2oVSs6d1N
Read Also: Peter Schiff Updates His Gold Price Prediction for April
How High Could ONDO Price Go?
From a valuation standpoint, the analyst sees huge upside. With a revenue of around $50 million in annualized terms and a relatively low market capitalization, ONDO also appears to be undervalued relative to its growth prospects.
The token has a potential value range from $2.1 to $3.4, a potential 7x to 12x from its current value.
At the current price range of around $0.26 to $0.27, the analyst believes the ONDO price is still in an early opportunity zone.
For this analyst, the decision to leave Litecoin and go all-in on ONDO comes down to one thing: the gap between reality and price. The fundamentals are improving across the board, TVL, revenue, and market share, but the market hasn’t fully reacted yet. In his view, that gap won’t last forever.
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