Orderly Bull thesis Cumulative daily perpetual trading sits around $700M–$900M across Solana, Base, Arbitrum, and more. With 60% of fees going into buybacks so far, every $1B in volume generates ~$250K of automatic $ORDER buying, translating to ~$180M–$220M annually at current FDV The builder flywheel is unstoppable. 1,000+ DEXs have launched in just 9 days via @OrderlyNetwork white-label SDK. More builders mean deeper liquidity, higher volume, and sustained $ORDER demand. Tokenomics remain bullish: 33% circulating supply, veORDER staking locking ~30% of tokens, and buybacks removing $50M–$75M annually from the market. Catalysts ahead: isolated margin & hedge mode in Q4 2025, Sonic HyperGrid integration unlocking $1B+ TVL flows, and veORDER v2 in early 2026 primed to spike volumes and token lockups. Technicals: descending wedge from $0.49 ATH intact, RSI oversold (~28 weekly), support at $0.22 holding, and golden cross forming. Targets: $0.42 → $0.68 → $1.20+. Trader’s play: Long $0.22–$0.25, stop below $0.18, spot or low leverage. Bottom line: buy the volume, not the story.