CeDiFi platform BounceBit has announced a new collaboration with Google. According to the official announcement, BounceBit is building on its collaboration with Ondo Finance by partnering with Google Cloud to expedite RWA’s growth in Southeast Asia.
Institutional-grade infrastructure for onboarding Southeast Asian real-world assets into CeDeFi is the main emphasis of the partnership.
The news likely gave the price of the native token $BB a push, making it rise above 16%. At the press time, the coin is trading at $0.4178, up 16.26% compared to the same time last day.
BounceBit’s Partnership With Google Not The First For Market
The new partnership with Google comes as BounceBit has been partnering with various platforms in order to expand its operations.
Just previously, BounceBit’s CeDeFi V2 platform incorporated tokenized real-world assets from Ondo Finance. Tokenization of real-world assets is the process of developing digital tokens based on blockchain technology that signify ownership or shares of financial or tangible assets, such as bonds, commodities, or real estate.
Additionally, BounceBit expanded its CeDeFi network and improved institutional-grade yields by integrating tokenized real-world assets with DigiFT, a regulated exchange. By bridging the gap between traditional and decentralized finance, this partnership seeks to elevate institutional-grade yields.
These integrations will likely see BounceBit’s RWA capabilities improve, giving users access to a wider range of real-world resources. Institutional investors can easily include premium investment options like uMINT, a tokenized money market investment offered under UBS Asset Management, through DigiFT’s regulated platform, which is a significant advancement in the CeDeFi space.
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$BB Token Price: What Do Indicators Say?
With the optimistic news, $BB price lifted to trade up. However, the market indicators at present show a different story. The present sentiment for the coin is bearish according to technical indicators, and the Fear & Greed Index is currently at 73 (Greed).
During the past 30 days, BounceBit has experienced 17.34% price volatility and 17/30 (57%) green days. The overall mood for BounceBit price prediction looks bearish, with 12 technical analysis indicators indicating bullish signs and 14 indicating bearish indications.
BounceBit’s 200-day SMA is expected to increase over the course of the upcoming month, reaching $0.425588 by January 23, 2025. During the same time, BounceBit’s short-term 50-day SMA will reach $0.656047.
One well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. With an RSI value of 51.35 at the moment, the BB market is in a neutral position.