2025-12-28 00:22:08

The RWA and tokenization tracks in the crypto market have recently become the focus of many people's attention. Today, we will thoroughly analyze the opportunities and pitfalls of two popular projects.

**ONDO——Ambitions and Challenges of the RWA Leader**

When it comes to tenfold potential, ONDO certainly has the credentials. It is the most stable in the traditional asset tokenization field, such as US bonds and US stocks, and has even established partnerships with top financial institutions like State Street Bank. From a compliance perspective, this is currently the most solid foundation. Considering the expected RWA market size to reach ten trillion by 2030, if ONDO can truly capitalize on this, plus its current price has already been cut by more than half from its peak, a tenfold increase in a bull market doesn't sound impossible.

But there are also many issues. First, the Federal Reserve's actions directly influence it—interest rate hikes and cuts are not minor events and can instantly change the attractiveness of entire assets. Second, new players are continuously entering the track, and competitors are becoming increasingly fierce, making user and capital outflows unavoidable. The most painful part is the subsequent token unlock—when that moment arrives, the selling pressure from arbitrage traders could severely suppress the price gains.

**PLUME——A Small but Beautiful Gold Tokenization Experiment**

PLUME is pursuing a different path—tokenized gold, which doesn't overlap with ONDO's focus. The market for precious metal tokenization still has a gap, and backed by legitimate institutions holding the gold, this project is quite compliant. Currently, the price is low, and the market cap is small; as long as some capital flows in, it can create some activity, and there is potential for explosive growth.

The risk lies in liquidity. Trading volume is too thin, and large funds entering the market could easily cause a dump. Exiting smoothly is also difficult—trading feels like swimming in a desert. Additionally, there is very little real trading data; no matter how compliant the project is, it can't withstand cold water without performance. Another practical issue is that many investors are already trapped—any sign of price rebound will trigger some to cut losses and escape, making it almost impossible to maintain steady growth.

ONDO3.05%

PLUME-1.7%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes

Reward
12
6
Repost
Share

Comment

0/400

PseudoIntellectual

· 13h ago

A trillion-dollar market looks very promising, but how many will actually live to see that day? When the unlocking tide comes, it's all just paper.

View OriginalReply0

LayerZeroHero

· 13h ago

ONDO is indeed betting that the Fed won't cause trouble this time, but who can guarantee that? Unlocking and crashing the market is the real knife. I just want to ask, how can PLUME's liquidity be fixed? It feels more uncertain than playing the lottery. ONDO's compliance strategy is solid, but with a bunch of competitors flooding in, it's really hard to hold them off. We've seen too many dramas of small coins skyrocketing and crashing. Those who dare to get on board with PLUME are all gamblers. If the Federal Reserve sneezes, ONDO catches a cold—that's the fate of being tied to the dollar. Liquidity issues hit the nail on the head. On the Shanghai Stock Exchange, PLUME is just a buyer's market doomed to be trapped. A tenfold increase in ONDO is not a dream, but it's not guaranteed either. When the selling wave hits, no one can run away. Gold tokenization sounds high-end, but in reality, it just lacks a explosive reason to attract people in. The track is crowded now. No matter how strong ONDO is, it has to make way for newcomers. PLUME is too small; a few million in funds can stir up a thousand waves or even wipe it out in one blow.

View OriginalReply0

GateUser-a606bf0c

· 13h ago

ONDO that unlocking risk is really unbearable, when the dump happens, no one can run away. Wait, is it really brave to go into PLUME with such thin liquidity? It's no different from gambling. RWA sounds good, but a single decision by the Federal Reserve can completely overturn it, which feels a bit虚. ONDO and PLUME are completely different approaches, but both can't escape the fate of being the "bag holder." The tenfold dream is quite tempting, just depends on who can hit the right rhythm without getting caught. PLUME, as a small coin, rises quickly, but when it crashes, it's really fierce. Lack of liquidity is just a trap. Endorsement by compliant institutions sounds stable, but on-chain transaction data is the real hard cash, which is a bit concerning. With so many people rushing into the RWA track, the competition pressure for ONDO is already here. Low price isn't necessarily a good thing; it indicates the market doesn't really believe in it. The prospects of tokenizing US bonds and US stocks are good, but I'm worried that policy changes could cause chaos.

View OriginalReply0

GamefiGreenie

· 13h ago

The risk of unlocking is really heartbreaking; when ONDO dumps, no one can run away. --- PLUME's liquidity is so poor that it's easy to enter but hard to exit. I think I'll just watch. --- When the Federal Reserve moves, ONDO has to follow suit. These days are tough. --- Both projects are interesting, but the positions are deep enough. The key still depends on timing. --- The prospects for tokenization are there, but those entering now should be prepared for being trapped. --- With that trading volume, I'm scared. I'd rather miss out than get stuck. --- Backed by Daofu, ONDO does have confidence, but with more and more competitors, I'm worried about being divided. --- Investors who are trapped tend to sell when there's a rebound. Holding steady is basically impossible. --- Tenfold potential sounds attractive, but each hurdle is more difficult than the last. --- Precious metal tokenization is truly a blank spot, but PLUME's current state is somewhat disappointing.

View OriginalReply0

Blockchainiac

· 13h ago

ONDO's unlocking logic really requires caution; when it dumps, it hits harder than anyone else --- PLUME's liquidity is so poor that once you get in, you're probably stuck and can't get out --- Whenever the Federal Reserve moves, ONDO starts to shake; this dependency is a bit too strong --- Gold tokenization sounds great, but in reality, no one is trading, and it's stuck --- With competitors so fierce, can ONDO still expect to gain ten times the profit? That's a bit doubtful --- People caught in the trap see the price rise and rush to escape; how can PLUME stay stable? --- Partnership with State Street definitely adds points, but a tenfold potential is still a bit too optimistic --- If liquidity issues aren't resolved, PLUME is just an empty shell --- When the unlocking wave hits, many will be harvested --- Small-cap coins look exciting with their gains, but actually fully exiting is extremely difficult

View OriginalReply0

HorizonHunter

· 13h ago

ONDO certainly has a story, but the Federal Reserve is a difficult parent to please; even a slight move requires dancing with risk. PLUME is even more surreal, with liquidity so thin it's like a ghost. When large investors enter, they get hammered, making the difficulty of making money directly max out.

View OriginalReply0