Bittime - The prices of several crypto tokens are surging today, including ONDO and DeXe. ONDO jumped more than 35%, while DeXe rose more than 10%. This significant price increase attracted the attention of many crypto traders and analysts.
ONDO Price Increase Driven by Rumors
ONDO's impressive price surge was fueled by speculation about a possible partnership with BlackRock, the world's largest asset manager. An analyst named “Not Telling” on Twitter has been raving about this potential, claiming that “BlackRock + $ONDO partnership will be announced soon.”
Interestingly, two months ago the same analyst highlighted that ONDO had tokenized a BlackRock Bond ETF on-chain, with a total value locked (TVL) of $187 million, despite its market cap being only $300 million at launch.
Anticipation surrounding these partnership rumors appears to be the main driver of ONDO's price increase. Traders and investors are competing to enter the market, anticipating price increases if the collaboration actually occurs.
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What is Ondo Finance (ONDO)?
Ondo Finance is a decentralized finance (DeFi) platform focused on tokenizing real-world assets (RWA) and opening up access to traditional financial markets via blockchain.
Founded in 2021, Ondo Finance aims to bridge the gap between DeFi and the world of traditional finance, enabling investors to invest in RWA assets such as debentures and bonds in a safe and efficient manner.
Ondo Finance uses an innovative tokenization protocol to convert RWA assets into digital tokens that can be traded on the blockchain. This allows investors to invest in RWA assets with less capital and without geographic restrictions.
Ondo Finance has collaborated with several well-known financial institutions to issue RWA tokens, including BlackRock and HashKey Capital. The platform has attracted significant interest from the DeFi community and has raised more than $50 million in funding.
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DeXe Rises Driven by Technical Factors
DeXe's price increase is attributed to technical factors and increased trading activity on major crypto exchanges such as Binance, based on analysis from "_COWTrader" and "OggyBitcoin0".
Advanced analysis shows that DeXe broke out of the consolidation zone after being stuck for 13 days, which could potentially trigger further price increases.
It is important to note that breakouts from consolidation zones, where asset prices trade within a narrow range, often signal a change in market sentiment and the potential emergence of a new trend.
Analysts are of the opinion that increasing trading volumes and a breakout of the consolidation zone may drive DeXe's upward momentum in the coming days.
What is DeXe?
DeXe Network, or DeXe for short, is a decentralized crypto social trading platform that operates under the DeXe Decentralized Autonomous Organization (DAO).
As a decentralized protocol built on Ethereum, the blockchain with the largest smart contracts, DeXe aims to be a “one-stop-shop for DeFi trading”. The platform offers a wide range of trading tools, including:
- Auto rebalancing: This feature helps users balance their portfolio automatically according to the chosen strategy.
- Listing tool: Makes it easy for users to create and register their own trading strategies.
- Educational materials: DeXe provides educational content to help users learn and implement decentralized social trading.
Apart from being a decentralized crypto asset portfolio management environment, DeXe allows users to safely copy other people's trading strategies directly from wallet to wallet. DeXe does this without needing to expose the user's private key or crypto wallet information.
As a leading decentralized social trading platform, DeXe connects successful traders with their followers in a transparent and reliable manner, benefiting both parties.
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DEXE tokens are native tokens that function as the main driver in the DeXe ecosystem and as a reward distribution mechanism. We will discuss more about the benefits and use cases of DEXE tokens in another section of this article.
While the reasons behind these price increases may be different, the crypto market remains a highly speculative realm. It is recommended for traders to be careful and conduct thorough research before making any investment decisions.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Ondo Finance (ONDO) Price Prediction, Will It Rise? Check out the analysis here
ONDO Goes Against the Market Flow, Soaring to Above IDR 7,873.50
Ondo Finance's USDY Token is Now Available on Blockchain Sui!
Staking Ondo: From Digital Asset to Passive Income Machine
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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