Direxion Daily Semi Bear 3X ETF (Ondo Tokenized)

SOXSON Price

About Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (soxson)

SOXSon is a tokenized representation of the Direxion Daily Semiconductor Bear 3X Shares (SOXS), providing on-chain investors with leveraged inverse exposure to the United States semiconductor sector.

• The token is designed as a total-return tracker that mirrors both the price movements and reinvested dividends of the underlying ETF.
• It enables non-United States retail and institutional users to mint and redeem tokenized securities 24 hours a day, five days a week.
• Holdings are fully backed 1:1 by traditional securities held in custody by United States-registered broker-dealers.

What Is Direxion Daily Semi Bear 3X ETF (Ondo Tokenized)?

Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) is a digital asset issued by Ondo Global Markets that brings traditional leveraged exchange-traded funds (ETFs) into the DeFi ecosystem. It specifically tracks the SOXS ETF, which seeks daily investment results of 300% of the inverse performance of the NYSE Semiconductor Index. This index tracks the thirty largest United States-listed semiconductor companies, such as Nvidia, Broadcom, and Intel.

Value moves through the system via a mint-and-redeem mechanism where users can exchange stablecoins for SOXSon tokens. The token is put to work by providing investors with a way to hedge against semiconductor market downturns or speculate on sector-wide price decreases without leaving the blockchain. As the ecosystem grows, this model scales by integrating with various decentralized protocols, allowing the token to be used as collateral or for liquidity provisioning.

What Makes Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) Unique?

• Round-the-Clock Minting: Unlike traditional markets, users can mint and redeem tokens 24 hours a day, five days a week, providing deeper accessibility to traditional finance liquidity.
• Total-Return Mechanism: The token automatically accounts for dividends and corporate actions by reinvesting them into the underlying asset, ensuring the token value reflects the cumulative economic performance.
• Cross-Chain Interoperability: SOXSon is available across multiple networks, including Ethereum, Solana, and BNB Chain, facilitating seamless asset movement.
• Institutional-Grade Security: The structure is designed to be bankruptcy-remote, with an independent security agent holding a first-priority security interest in the collateral for tokenholder protection.

What Can You Use Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) for?

• Bearish Hedging: Investors can use SOXSon to protect their portfolios against declines in the semiconductor industry.
• Leveraged Speculation: The token provides 3x inverse leverage, allowing traders to amplify their exposure to downward price movements in the sector.
• On-Chain Collateral: As a verified Real World Asset, it can be integrated into lending protocols to serve as collateral for borrowing other digital assets.
• Liquidity Provisioning: Users can provide liquidity in decentralized exchanges to earn protocol service fees while maintaining exposure to the underlying ETF's performance.

How Does Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) Work?

The technical architecture of SOXSon relies on asset tokenization, where a regulated entity purchases the underlying SOXS shares and places them in secure custody. For every share held, a corresponding token is minted on the blockchain. On networks like Solana and BNB Chain, a 'Scaled UI' display standard is used to adjust user balances so that the token price matches the underlying share price.

On Ethereum, the token functions as a value-accruing asset where one token may represent more than one share over time as dividends are reinvested. Transactions and interactions with the Ondo platform may involve protocol service fees, which are separate from the native network fees required to process transactions on the Layer 1 or Layer 2 blockchains.

Team Info and Investors

SOXSon is a product of Ondo Finance, a protocol focused on bridging traditional finance and decentralized finance. The project has received backing from prominent venture capital firms, including Founders Fund, Pantera Capital, and Coinbase Ventures. While the individual team members for the specific SOXSon issuance are not detailed in the source, Ondo Finance is led by former Goldman Sachs executives and operates under a governance structure involving the Ondo Foundation.

Where can you buy Direxion Daily Semi Bear 3X ETF (Ondo Tokenized)?

SOXSON tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) is Ondo Global Markets, where the most active trading pair SOXSON/USDON has a trading volume of $297.01 in the last 24 hours.

What is the daily trading volume of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON)?

The trading volume of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) is $297.01 in the last 24 hours, representing a 0.00% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON)?

Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) reached an all-time high of $4.42 and an all-time low of $3.47. It’s now trading -19.70% below that peak and 2.30% above its lowest price.

What is the market cap of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON)?

Market capitalization of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) is $1,090.43 and is ranked #12439 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SOXSON tokens (310 tokens are tradable on the market today).

What is the fully diluted valuation of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON)?

The fully diluted valuation (FDV) of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) is $1,090.43. This is a statistical representation of the maximum market cap, assuming total number of 310 ETH tokens are in circulation today.

How does the price performance of Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) compare against its peers?

With a price increase of 0.00% in the last 7 days, Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) is outperforming the global cryptocurrency market which is down -1.10%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) to MetaMask?

Adding Direxion Daily Semi Bear 3X ETF (Ondo Tokenized) (SOXSON) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SOXSON as a token. You can copy SOXSON’s contract address (0x01eb2ee6ec05c304666210133b762088ff9965ac) and import it manually, or if you've installed MetaMask's chrome extension, add SOXSON to MetaMask with one click on CoinGecko.

Add SOXSON to MetaMask.