The cryptocurrency markets witnessed significant price rallies for ONDO and DeXe tokens today, with ONDO surging over 35% and DeXe climbing more than 10%. These substantial gains have caught the attention of traders and analysts within the crypto community.
ONDO’s impressive rally comes amidst speculation of a potential partnership with BlackRock, the world’s largest asset manager. An analyst known as “Not Telling” on Twitter has been vocal about this possibility, claiming that the “BlackRock + $ONDO partnership will be announced soon.” Notably, two months ago, the same analyst highlighted that ONDO had already tokenized a BlackRock Bond ETF on-chain, with a total value locked (TVL) of $187 million despite having only a $300 million market capitalization at the time of launch.
The anticipation surrounding this rumored partnership appears to be a driving force behind ONDO’s price surge, as traders and investors position themselves for a potential upswing if the collaboration materializes.
On the other hand, DeXe’s price pump has been attributed to technical factors and increased trading activity on major cryptocurrency exchanges like Binance., based on analysis from “_COWTrader” and “OggyBitcoin0, Further analysis shows that DeXe broke out of a consolidation zone after accumulating for 13 days, potentially triggering further gains.
It’s worth noting that a breakout from a consolidation zone, where an asset trades within a narrow range, can often signal a shift in market sentiment and the potential for a new trend to emerge. Analysts suggest that the increase in trading volume and the breakout from the consolidation zone could fuel additional upward momentum for DeXe in the coming days.
While the reasons behind these price pumps may vary, the cryptocurrency market remains highly speculative, and traders are advised to exercise caution and conduct thorough research before making investment decisions.
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