It’s said to be the leader in the RWA (Real World Assets) sector, with the project team constantly bragging about regulatory progress, cross-chain bridge launches, and TVL hitting new highs... But what’s the result? The coin price still crashed. Looking today, ONDO has fallen over 6% in the last 24 hours, now priced at less than 0.37 dollars. Compared to those altcoins that easily reach several dollars, being this 'leader' really feels quite frustrating.
Turning on the K-line chart, it’s truly hard to look at. The MACD has long turned green to negative, and the price is continuously probing downwards, with the short-term moving averages pressing down from above. The trading volume is not small, with over 6 million dollars traded in the last 24 hours, but unfortunately, it’s all selling pressure. Where is the so-called 'bullish signal'? All I see is devastation.
Interestingly, while the price is falling, the good news about ONDO has been continuous. There have been SEC investigations, approvals in Europe, and a cross-chain bridge established with LayerZero, with the TVL rising to 1.9 billion dollars. Logically, shouldn’t this be the prelude to takeoff? Why is the price of the coin deflating like a punctured balloon?
This inevitably raises doubts: has the good news already been digested by insiders? Was the news released just to cover up the unloading? After all, such things are too common in the crypto space. The project party praises it to the heavens, and the community shouts for orders loudly, only for retail investors to find themselves catching the last baton when they rush in with real money.
ONDO is not the first, nor will it be the last. Many so-called 'fundamentally strong' projects also fall to the extent that they are unrecognizable to their parents. You say it is the leader in RWA, it claims to be compliant and leading, but the price doesn’t lie. A drop is a drop, weakness is weakness. In the crypto space, no matter how well the story is told, if it can't drive the market, it's all in vain.
What else can retail investors do? Watching the coins in their hands shrink day by day, listening to the project party continue to paint big pies, apart from cursing 'it's all a scam', there seems to be nothing they can do. This market has long become a harvesting ground of information asymmetry. What you see is good news, what they see is an unloading opportunity; what you believe is a vision, what they calculate is profit and loss.
Will ONDO bounce back? Perhaps. But before that, it has already left countless believers in 'leader narratives' feeling half-hearted. The crypto space is never short of stories, nor accidents. When every hotspot ultimately fades into silence, and every leader drops to 'bug head' status, shouldn't we calm down and think: are we investing in the future, or are we footing the bill for someone else's financial freedom?
Wake up, there are no leaders, only wave after wave of endlessly harvested leeks.$ONDO
