Bitget's rToken Outpaces Ondo in Trading Volume
The stock token rToken launched by Bitget has seen a significant surge in trading volume. According to data from Dune, its 24-hour trading volume reached approximately $30 million, surpassing that of Ondo's stock tokens. The latter had a total trading volume of around $25 million across all CEXs and DEXs.
Ondo was one of the earliest RWA protocols to venture into stock tokens. Its assets were previously listed on platforms such as Binance Wallet, Bitget, and Gate, with a peak daily trading volume reaching $620 million at some point in time. However, this figure has declined significantly compared to the beginning of the year.
The rise of rToken is likely due to increasing competition among trading platforms launching their own stock tokens. This development may have led to a decrease in Ondo's overall trading volume.