$ONDO is down 5.4% today and still up 24.33% on the week. The dip is landing right as Ondo Perps hands out its first points.
The Ondo Foundation says Perps is live with up to 20x on equity perps, and that it's the first platform to accept tokenized stocks as collateral (pre-alpha users only). That's their claim about themselves, and I haven't seen it verified. The pitch is that traders don't have to sell an asset or park stablecoins to get exposure.
The part I care about is the points. The Foundation says 5 million points go out every week, earned through trading volume and open interest. A rewards program like that only works if people keep trading, so the team has every reason to keep the volume coming. I read that as a reason to buy the dip, not proof of demand.
Right now $ONDO trades at $0.4135, well off the 24h high of $0.4473. If it holds $0.4043, I think this week's gain survives and it walks back toward $0.4473. If it loses $0.4043, I'm wrong and there's nothing to defend. Anyone holding from higher up eats that loss with me.
Holding $0.4043 or losing it?
follow me for more calls like this.
The Ondo Foundation says Perps is live with up to 20x on equity perps, and that it's the first platform to accept tokenized stocks as collateral (pre-alpha users only). That's their claim about themselves, and I haven't seen it verified. The pitch is that traders don't have to sell an asset or park stablecoins to get exposure.
The part I care about is the points. The Foundation says 5 million points go out every week, earned through trading volume and open interest. A rewards program like that only works if people keep trading, so the team has every reason to keep the volume coming. I read that as a reason to buy the dip, not proof of demand.
Right now $ONDO trades at $0.4135, well off the 24h high of $0.4473. If it holds $0.4043, I think this week's gain survives and it walks back toward $0.4473. If it loses $0.4043, I'm wrong and there's nothing to defend. Anyone holding from higher up eats that loss with me.
Holding $0.4043 or losing it?
follow me for more calls like this.
