Solana (sol) 
DeXe Protocol Token Sees Significant Gains Amid Increasing Staking Volume and Anticipation of Ecosystem Developments
The DeXe Protocol token (DEXE) has experienced substantial growth this year, with its price surging 155% from its lowest level to reach a high of $19.75. This upswing has been driven in part by increasing staking volume on the protocol and anticipation of major developments within the ecosystem.
Staking Volume and Rewards
The one-month staking tier currently holds 11.3 million DEXE tokens, valued at over $214 million, offering a 10% yield to holders. The three-month tier holds 2.82 million DEXE tokens with an APR of 14.20%, while the six-month tier contains 690,000 tokens. Meanwhile, the 12-month and 24-month tiers have attracted 500,000 and 40,000 tokens, offering returns of 20% and 127%, respectively.
Key Planned Developments and Roadmap
Developers have unveiled their roadmap for the year, which includes key events such as:
- Release of the DeXe Protocol on Ethereum
- Locking the DAO Treasury in the DeXe protocol
- Launching staking for DeXe DAO
The announcement of these developments has contributed to the token’s price surge.
Increasing Number of Token Holders
The number of DEXE holders has also seen a steady increase, rising to 2,521 on January 21, up from 2,450 a month earlier. This growth can be attributed to fear of missing out and the recent addition of the futures copy trading service by Binance.
DeXe Price Analysis
According to the daily chart, DeXe’s price has rebounded, reaching a high of $21.50. This rebound follows a consolidation phase that lasted from August to December last year, aligning with the accumulation phase of the Wyckoff Method.
DeXe has now entered the markup phase and appears to be approaching the distribution stage. The token is also forming a double-top pattern at $21.50, along with the bearish chart pattern rising wedge. Additionally, both the Relative Strength Index and the MACD indicators have formed a bearish divergence pattern.
As a result, the coin is likely to experience a bearish breakdown in the coming days, with the potential target being $15.
For cryptocurrency investors and those interested in the DeXe Protocol, it is essential to stay informed about market developments and trends. Stay up-to-date with the latest news and analysis on Global Crypto News.
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