$ONDO is one of the rare coins that has been doing well during two risk-on seasons in a row (early 2024, and Q4 24), I would be surprised to see it be strong again for a 3rd time.
On top of this, it's still trading at $8bn FDV (top #22) for no other reason than maybe the "consolidation into the winner" (in this case, of the RWA sector) phenomenon we often see in crypto
I am short-biased on this coin as a consequence