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Five assets show volatility surge in 14 days — TON, JTO, ONDO, LUNC, STRK lead mid-cap expansion
- Comparing the last 14 trading days against the prior 14, five assets have more than doubled their annualised realised volatility: TON (+124%), JTO (+128%), ONDO (+116%), LUNC (+117%) and STRK (8.2x volume spike on May 8).
- This cluster of simultaneous volatility expansion is concentrated in mid- and small-cap tokens rather than BTC or ETH, suggesting a shift in risk appetite toward smaller assets.
- Price movements in the same window have been mixed, with some assets posting gains while others experienced sharp corrections, indicating volatility driven by both directional moves and speculative liquidations.
Supporting datasets
Supporting queries
To surface this insight, Baselight ran 5 queries across its structured data. Each one is reproducible — open it, read the SQL, and rerun it yourself.
Conclusion
Annualised 14d realised volatility (recent vs prior 14d): TON 174.6% vs 78.1% (+123.6%); JTO 190.5% vs 83.7% (+127.6%); ONDO 129.9% vs 60.2% (+115.7%); LUNC 234.0% vs 107.7% (+117.4%). Computed as STDDEV(LN(close/LAG(close))) * SQRT(365) * 100 over rolling 14-day windows. BTC 14d vol: ~55% (well below all five). Price action in the 14-day window included TON +86% over 7 days (as of May 8), JTO moderate gains, ONDO +35.6% over 30 days, and LUNC experiencing a 21% single-day drop on May 7 amid liquidations.