Everyone says it's the leader in the RWA (Real World Assets) track, with project teams constantly bragging about regulatory progress, cross-chain bridge launches, and TVL hitting new highs... But what’s the result? The coin price still crashes. Today I checked, and ONDO dropped over 6% in 24 hours, now trading below $0.37. Compared to those altcoins that are worth several dollars, this “leader” really feels suffocating.

Looking at the candlestick chart, it’s even more unbearable. The MACD has already flipped green to negative, and the price is steadily declining, with all short-term moving averages pressing down from above. Trading volume isn’t small—over $6 million in 24 hours—but unfortunately, it’s mostly sell orders surging. Where are the so-called “bullish signals”? All I see is chaos.

Interestingly, while the price is falling, ONDO’s positive news keeps coming. SEC investigations, approvals in Europe, a cross-chain bridge with LayerZero, and TVL soaring to $1.9 billion. Shouldn’t this be the prelude to takeoff? Why does the coin price instead feel like a deflated balloon?

This inevitably raises suspicion: Have insiders already digested the good news in advance? Was the news release just to cover for dumping? After all, such things are too common in the crypto world. Projects hype wildly, communities shout loudly, and when retail investors pour in their real money, they realize they’ve caught the last bag.

ONDO isn’t the first, and it won’t be the last. Many so-called “fundamentally strong” projects also crash so badly that even their parents wouldn’t recognize them. You say it’s the RWA leader, they claim to be the most compliant, but price doesn’t lie. Falling is falling, weakness is weakness. No matter how good the story, if it can’t move the market, it’s all just empty talk.

What can retail investors do? Watch their coins shrink day by day, listen to project teams keep hyping, and besides cursing “It’s all a scam,” there’s little else to do. This market has long become a harvesting ground of information asymmetry. You see positive news, they see an exit opportunity; you believe in the vision, they calculate profit and loss.

Will ONDO rebound? Maybe. But before that, it has already cooled the hearts of countless believers in the “leader narrative.” The crypto world never lacks stories, nor accidents. When every hot topic eventually fades and every leader crashes like a “bug head,” shouldn’t we calmly think: Are we investing in the future, or are we just paying for others’ wealth freedom?

Wake up, there’s no such thing as a leader, only wave after wave of endless chives being harvested. $ONDO ‌#市场触底了吗？