xStocks Tokenizes Fundrise: ONDO 58% Leader

xStocks-Fundrise Partnership and ONDO Sector

xStocks' tokenized stock framework is bringing the newly IPO'd Fundrise Innovation Fund onchain through a partnership with alternative investment platform Fundrise. The announcement that the sole tokenized asset VCXx will go live on the xStocks platform in the coming days was made on Friday. The Fundrise Innovation Fund, a closed-end fund offering exposure to late-stage private market companies like Anthropic, Databricks, and SpaceX, began trading on the NYSE. The share, which opened at $31 on March 19, rose to as high as $575 in early trading but lost value on Thursday due to a short seller report from Citron Research. The report stated that Fundrise Advisors LLC was charged by the SEC in 2023 for paid solicitation activities and claimed payments were made to influencers. The share closed the week at $173, fell 34% on Friday, and declined another 5.9% in after-hours. The fund's founding partner and CEO, Ben Miller, defended the fund's strategy and efforts to expand access to private tech companies to CNBC, calling the criticisms an unfounded smear campaign.

Source: CNBC

ONDO Technical Analysis and Price Outlook

This development is progressing in parallel with the total onchain value of tokenized stocks exceeding $1 billion this month. According to RWA.xyz data, the sector's ONDO detailed analysis leads with 58% market share, while the xStocks platform forms a duopoly with 24%. The Foresight Ventures report states that regulatory hurdles, liquidity advantages, and tokenization models are shaping the competition.

ONDO current price $0.28 (+0.95% 24h), RSI 56.11 (neutral), uptrend but Supertrend bearish. EMA 20: $0.2635.

• Supports: S1 $0.2499 (⭐ Strong, -9.09%), S2 $0.2689 (⭐ Strong, -2.18%)
• Resistances: R1 $0.3682 (⭐ Strong, +33.94%), R2 $0.2827 (Moderate, +2.84%)

Follow ONDO futures closely.

Tokenized stocks crossed the $1 billion milestone. Source: RWA.xyz