Ondo Finance [ONDO] surged despite ongoing market uncertainty, raising questions about the reason behind such gains at a time when geopolitical tensions are at their peak and the broader crypto market continues its bearish streak. 

At press time, ONDO rose 15.60% to $0.3415, lifting its market capitalization to $1.85 billion. Investor support for the rally was evident as trading volume surged 196% to $267.44 million. 

Why is the ONDO price rising?

A key driver of this upward momentum appears to be the U.S. Securities and Exchange Commission’s (SEC) recent plan to permit trading of tokenized stocks. In this space, Ondo Finance controls more than 60% of the total tokenized equities market.

In fact, market participants had already…