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DeXe Fundamental Analysis
DEXE is a token on the Dexe Network — a social trading platform for crypto traders. In 2020, the project’s team released their main product — Wallet-to-Wallet Copying tool. DEXE token also went through the initial sale in 2020.
Social trading has been a popular way for people to manage their more traditional investments for a few years. It means automatically copying the more successful traders’ investment strategies, which makes trading accessible even for people with little to no knowledge of the market workings. As the crypto world grew, the Dexe team decided to fill this niche in the DeFi space. A user can connect his or her wallet to Dexe and start copying other traders who are also connected to the platform.
When a user makes a profit on his or her trade using Dexe, the platform automatically deducts a 30% commission from these profits. This commission is used to buy back DEXE tokens from the market, which are then divided into three parts: the first part is burned, the second one is put into the insurance fund and the third part is divided between DEXE holders. Besides those uses, DEXE also serves as a governance token, enabling the holders to vote on important issues, since Dexe is a DAO.
DeXe Live Price Chart
DEXE token price started 2021 in the same way as most other cryptocurrencies on the market — following Bitcoin’s behavior. So, after barely breaking $1.5 in 2020, in early 2021 DEXE price grew rapidly, peaking at $33.54 in March. Up until May, DEXE was still trading above ~$23, but at the beginning of that month, the tide started turning. The price first got down to ~$15, and then fell with the market even further, reaching $3 by July. In late July, however, something unexpected happened: DEXE’s price surged again, going up to $22.97. This might be attributed to Binance listing DEXE/USDT pair, boosting DEXE’s credibility and popularity. In the last days of the month, the trend seemed to turn down again, but it might be just a (yet) unfinished cup and handle trading pattern, which is considered bullish.
DeXe Technical Analysis
DeXe Price Prediction
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