A surge of 120% in a week! The knockoff season in a bear market? What is the basic logic of takeoff for ONDO, ZEC, BIO, and TON? Recently, BTC reached a high of $83000, and the S&P 500 hit a new high, seemingly a comprehensive feast. But in reality, the 'Shanzhai Season Index' has been stuck at 39 for a long time, with only about half of the tokens in the TOP 100 standing above the 50 day moving average. Nowadays, it is not a general upward trend of "buying with your eyes closed", but a highly concentrated "single point explosion" of funds. Deeply dissect the four hardcore labels ONDO, ZEC, BIO, and TON to see what the underlying logic behind their skyrocketing prices is: ️ ONDO: RWA Leader Squeezing into Wall Street Table Price performance: Over the past week, the price has risen by 57% and reached around $0.4. Core positive news: Successfully selected to manage $114 trillion in assets in the DTCC (Depository Trust and Clearing Corporation) industry working group. In this group, ONDO's teammates are traditional financial giants such as BlackRock, JPMorgan Chase, and Goldman Sachs. Business implementation: Jointly with JPMorgan Chase, MasterCard and Ripple, the first cross-border token treasury bond redemption and French currency settlement were completed in 5 seconds, which is far faster than the speed of traditional banks in 1-3 days. Data support: Control about 70% of the tokenized stock market; TVL rose to 3.53 billion US dollars; In Q1 2026, the agreement revenue reached 13.26 million US dollars. ️ ZEC: Revival of Privacy Assets and Epic 'Squeezing' Price performance: a daily surge of 30%, reaching above $580, with a market value briefly exceeding 10 billion; Over the past 30 days, there has been a 90% increase. Catalyst: Multicoin Capital partners have publicly stated that they have been building positions in ZEC since February, viewing it as the purest hedging tool against the government's "wealth tax" and "asset surveillance". Compliance advantage: Against the backdrop of Monero's delisting in Europe, ZEC supports selective disclosure, allowing it to remain on compliant exchanges such as Coinbase, and even launched Robinhood on April 23, opening up retail channels. Chips and crowding out: Shielded pools have drained a record high 30% of circulation. Due to being used as a short selling target for a long time, large institutions openly called out orders, directly triggering retail FOMO, resulting in a $62 million short position being sold out within 24 hours, deducing a textbook like short selling market. BIO: DeSci Narrative Returns and Launchpad Blooddraws Price performance: A very small market with a market value of only around 100 million US dollars has surged 176.8% in the past month. Background support: This was originally the institutional stock platform of Arthur Hayes and Binance Labs, which experienced a dark moment when it fell from $0.88 to $0.0157. Explosive point: Recently, BioXP V2 has been upgraded to enable the Ignition Sale mechanism, and 100% of the new funds are injected into LP. Its first project, PeptAI, raised 5.9 times more funds within 30 minutes, directly igniting the secondary market. Inflation logic: Low liquidity overall+staking mechanism to lock in liquidity+short covering to jointly exert force. ⚠️ Attention: The recent online rumors of "nine figure acquisition of traditional pharmaceutical companies" are false and independent events. Currently, the rise in BIO is still driven by "narrative+short squeeze". ✈️ TON: Founder Durov's "All In" Moment Price performance: surged 120% in a single week, with a market value of 7.6 billion, briefly entering the Top 20. Core driver: Telegram founder Durov publicly announced that Telegram will replace the TON Foundation as the main driver and largest verification node of the network, and launch the MTONGA plan. Compliance and lock up: Benefiting from the relaxation of regulations in 2026, Telegram personally pledged 2.2 million TON and deeply and explicitly bound 950 million monthly active users with TON. More than 20% of APR attracts a large number of large investors to lock up their positions, further reducing circulation. Business explosion: processed 1.5 billion transactions in Q1 2026; In April, TVL reached 1.2 billion US dollars; Head DEX http://STON.fi The trading volume increased 26 times in a week.