BNY Mellon Launches Digital Asset Custody Services in UAE
- Strategic Partnership: BNY Mellon has formed a strategic alliance with Abu Dhabi's Finstreet and ADI Foundation to provide digital asset custody services for institutional clients, initially focusing on Bitcoin and Ethereum, with plans to expand into stablecoins and other digital financial instruments, showcasing its ambition in the digital asset space.
- Technological Foundation: Finstreet, a subsidiary of Sirius International Holding, has played a role in launching a stablecoin linked to ADI Foundation's blockchain platform, indicating BNY Mellon's technological support and innovative capabilities in digital financial infrastructure.
- Regulatory Environment: The UAE is establishing a robust regulatory framework for digital finance, attracting global financial giants, and BNY Mellon's entry will further solidify the UAE's position as a global digital asset hub, promoting growth in institutional investments.
- Market Outlook: BNY Mellon's custody services will not only facilitate the integration of traditional finance with digital assets but also enhance its influence in global digital asset trading and corporate payments through collaborations with major financial institutions.
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Technical Analysis for ADI
Technical Sentiment Analysis for (ADI). As of , (ADI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ADI 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, ADI 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 $-.
(ADI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 3.927 | 4.039 | 4.171 | 4.283 | 4.416 | 4.527 | 4.66 |
| Fibonacci | 4.039 | 4.132 | 4.19 | 4.283 | 4.376 | 4.434 | 4.527 |
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