Ondo U.S. Dollar Token
$1.00
Data from CoinGecko, on-chain analytics, and official project documentation. View methodology
- Cryptocurrency
- Ondo U.S. Dollar Token (USDON)
- Sector
- Stablecoin
- Market Cap Rank
- #373
- Current Price
- $1.00
- Market Capitalization
- $66.12M
Cycle Potential
0x
cycle scenario · ~2029 window
Risk Level
0/10
Low Risk
Market Cap
$66.12M
Volume
$0
Circulating Supply
66.12M
0.1% not yet in circulation
Total Supply
66.16M
What is Ondo U.S. Dollar Token?
Ondo U.S. Dollar Token (USDON) is a stablecoin designed to maintain a stable value, typically pegged 1:1 to a fiat currency like the US dollar. It is currently ranked #373 by market capitalization, trading at $1.00 with a total market cap of $66.12M.
How does Ondo U.S. Dollar Token work?
Ondo U.S. Dollar Token, styled USDon and tracked as USDON, is the settlement stablecoin for Ondo Stocks, Ondo Global Markets’ platform for tokenized stocks and ETFs. Each USDon is described by Ondo as backed by a dollar of cash or cash equivalents in an Ondo Stocks brokerage account. The platform’s Peg Stability Module can convert USDC and USDon 1:1 for stock mints and redemptions, subject to available swapper liquidity and permissions. USDon is a functional cash leg for that marketplace rather...
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Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions. Cryptocurrency investments are volatile and carry significant risk.