Ondo Finance launched its perpetual contracts trading platform less than a month ago. Its daily volume reached $300 million, pushing cumulative volume to nearly $6 billion while the broader crypto market was declining. On July 31, Ondo ranked fourth among perp DEX platforms in terms of tokenized equities volume, ahead of Lighter and AsterDEX. Its open interest hit a peak of $74.77 million, reflecting growing trader preference for a platform offering tokenized products like Nvidia, Tesla, oil, gold, and the S&P 500 with up to 20x leverage. The market cap of the ONDO token stands at $1.87 billion.
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