Breaking: solana:BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy surpasses ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 in total Tokenized stock DEX volume by ~4x
At the same time, Backpack is valued at 10% of ONDO
Either the market is inefficient and BP is ripe for a strong re-rating or ONDO is extremely overvalued at these levels and will break down.
Tokenized stock issuers are at war. Don’t forget about the power laws.
The winner will take a lion’s chunk of the market.