Phemex Integrates Ondo Tokenized Equities for 10M Users

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

Should l Buy BTC?

User Access to New Assets: Phemex's integration with Ondo Finance enables its 10 million users to access 14 tokenized traditional assets, including shares of renowned companies like NVIDIA, Tesla, Apple, and Amazon, significantly expanding investment options for users.
Advantages of Tokenized Stocks: By leveraging blockchain technology, users gain liquidity in traditional financial instruments while enjoying the convenience of digital assets, an innovation that is expected to drive user interest and participation in tokenized assets.
Strategic Expansion Plan: This integration marks a significant step in Phemex's expansion into real-world asset (RWA) tokenization, aiming to bridge traditional finance with decentralized finance platforms, thereby enhancing the platform's competitive edge in the market.
Platform Background Information: Founded in 2019, Phemex operates as a cryptocurrency exchange offering spot trading, derivatives trading, copy trading, and wealth management products, currently serving over 10 million traders globally, showcasing its strong influence in the crypto market.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like BTC with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	59058.613	62088.306	64923.613	67953.306	70788.613	73818.306	76653.613
Fibonacci	62088.306	64328.736	65712.876	67953.306	70193.736	71577.876	73818.306

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for BTC?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy BTC?

Get Started Free