Carletti Warns EU Cannot Fully Protect Crypto Deposits
- Financial Shock Risks: Elena Carletti, chair of UniCredit Bank's risk committee, warns that a potential financial shock linked to crypto companies in Europe could be harder to manage than the 2023 US banking crisis due to key differences in deposit protection mechanisms.
- US Emergency Measures: In March 2023, following the failures of SVB and Signature Bank, US authorities swiftly guaranteed not only standard depositors but also all balances, including those held by stablecoin issuers, which was crucial for crypto firms with large assets.
- Limitations of EU Guarantee System: The EU's MiCA regulation mandates that stablecoin issuers keep a significant share of reserves in liquid assets, but Carletti emphasizes that the EU deposit guarantee system generally covers only up to 100,000 euros per person per bank, making it unfeasible to cover full reserves in a major crisis.
- System Vulnerabilities: Carletti argues that partial state guarantees on stablecoin reserves create simultaneous fragility in both the traditional banking system and the crypto sector, and as the ties between banking and crypto in the EU strengthen, experts warn that not all funds could be safeguarded during severe market shocks.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) 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 STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0258 | 0.0294 | 0.0334 | 0.037 | 0.041 | 0.0446 | 0.0486 |
| Fibonacci | 0.0294 | 0.0323 | 0.0341 | 0.037 | 0.0399 | 0.0417 | 0.0446 |
About the author
