Ondo [ONDO]  tokenization adoption strengthened after the asset crossed one million wallets, but a wider crypto sell-off pushed its price sharply lower.

In particular, the milestone included wallets interacting with Ondo’s tokenized stocks, ETFs, and Treasury products. Therefore, the development expanded market participation across its real-world asset ecosystem.

The milestone, however, arrived during a sharp contraction across the wider crypto market, with roughly $531 million in crypto positions facing liquidations over 24 hours.

Consequently, ONDO price declined 12.09% over the same period, with its price dropping toward the $0.50 level. However, its trading volume climbed 76.48% during the decline.

The trading activity…