The DeXe Protocol token has been on a remarkable journey this year, with its price soaring to new heights as market participants eagerly await major developments within the ecosystem. The token’s performance has been bolstered by a surge in staking volume, indicating strong investor confidence in the project.
At its peak this week, DeXe (DEXE) reached a price of $19.75, marking a significant 155% increase from its lowest level this year. This impressive rally coincided with a steady rise in the amount of DEXE tokens staked on the protocol. The one-month staking tier currently holds 11.3 million DEXE tokens, valued at over $214 million, offering a 10% yield to holders.
The roadmap for DeXe’s future development has also been a driving force behind the token’s price surge. Planned events include the release of the DeXe Protocol on Ethereum (ETH), the locking of the DAO Treasury in the DeXe protocol, and the launch of staking for DeXe DAO. These milestones have generated excitement among investors and contributed to the token’s upward momentum.
Furthermore, the number of DEXE token holders has been steadily increasing, with CoinCarp reporting a rise to 2,521 holders on January 21 from 2,450 a month earlier. The recent addition of the futures copy trading service by Binance has likely attracted new investors to the project, further fueling its growth.
In terms of price analysis, the daily chart for DeXe shows a rebound to a high of $21.50, following a consolidation phase that lasted from August to December last year. The token appears to be in the markup phase, approaching the distribution stage and forming a double-top pattern at $21.50. Additionally, indicators such as the Relative Strength Index and MACD suggest a bearish divergence pattern, signaling a potential bearish breakdown in the near future with a target of $15.
Overall, the DeXe Protocol token has garnered significant attention and support from investors, driven by its promising roadmap, increasing staking volume, and positive price performance. As the project continues to evolve and achieve key milestones, it is likely to remain a focal point in the cryptocurrency ecosystem.