Packing traditional financial assets (U.S. stocks, U.S. bonds, ETFs) into crypto tokens is the work of the big brother in the RWA (real-world assets) track, but recently the price trend has been quite frustrating.

First, let's talk about its current status: You see this candlestick chart, it fell from nearly 1 dollar and is now swaying at 0.5 dollars, dropping nearly 5% in 7 days and cutting in half over 90 days. But this isn't because it can't do it; it's because "good news wasn't captured + selling pressure hasn't dissipated." Why is it the "contractor"? This entity has packaged traditional assets like U.S. stocks (such as Apple and Tesla), U.S. bonds, and ETFs into on-chain tokens through compliant trusts, allowing crypto users to buy directly with USDT and trade 24 hours a day—just imagine, even after U.S. stock markets close, you can still buy Apple stock; how attractive is that for non-U.S. users (like us)? Moreover, it just obtained a European Union license, enabling it to sell these tokens to retail investors in 30 countries, which opens up a market of 500 million people, theoretically a tremendous benefit.

So why did it drop like this? Two core reasons:

The first reason is unlocking dumping + whale selling pressure—early investors' coins are being unlocked one after another. There was a whale named Arthur Hayes who deposited over 36 million ONDO into the exchange; who wouldn’t panic? When the market sees someone trying to run, it's respectful to dump first.

The second reason is good news turning into bad news—its collaboration with Binance Wallet to launch tokenized stocks should have led to a rise, but the market felt that 'the expectations were already priced in,' instead using the good news to sell off, which is a typical case of buying the rumor and selling the news.

But this product is really not garbage; its hard power in the RWA track is unique.

👿 Licensing is more complete than anyone else's: Acquired a licensed institution in the US and obtained licenses for securities brokerage and trading systems. The SEC (U.S. Securities and Exchange Commission) has no way to deal with it; it's one of the few 'compliance monsters' in the crypto circle.

👿 The business data can really stand up: The TVL (Total Value Locked) of tokenized stocks has reached $345 million, accounting for 60% of the entire track's market share. In the last three days, its market cap on the Binance chain has increased tenfold, indicating that users are really using it.

👿 Institutional backing: Collaborating with traditional financial giants like BlackRock and Fidelity for US debt tokens, with an annual return of 4.8%. Institutional funds are pouring in, and the US debt fund has locked in $780 million.

Can this price be touched now? It depends on what your style is:

👿 Want to bet on a short-term rebound: Don't touch it now; the EMA moving averages are all in a bearish arrangement, and the trading volume hasn't increased, indicating that no one is willing to take over;

👿 Want to position long-term in RWA: This price counts as the 'floor range'—its current market cap is only $1.6 billion, and the RWA track is expected to be a trillion-dollar market. As long as it can maintain a 60% market share, multiplying several times is normal, but it must withstand future unlocking selling pressure… .#ONDO $ONDO #加密市场观察