Chainlink Partners with 47 Banks for Cross-Border Payments
- Project Overview: Chainlink has announced a partnership with 47 South Korean and European banks to launch Project Pangea, aiming to enable real-time cross-border payments using stablecoins, involving banks with over $10 trillion in assets.
- Efficiency Improvement: The initiative seeks to reduce the traditional two-day currency swap settlement time to nearly instantaneous, leveraging regulated stablecoins pegged to the euro and South Korean won, significantly enhancing the efficiency and security of international transactions.
- Technical Implementation: Project Pangea will utilize an 'atomic payment-versus-payment' method to ensure simultaneous transactions, thereby reducing counterparty and settlement risks, while complying with Swift and ISO 20022 banking standards, facilitating traditional financial institutions' access to blockchain infrastructure.
- Market Potential: The project will initially focus on the trade corridor between Europe and South Korea, which has an annual trade volume exceeding $150 billion, and with 60% of global stablecoin payments occurring in Asia, highlighting the region's significance in cross-border payments.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT 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, ALT 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 $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00395 | 0.00493 | 0.00573 | 0.00671 | 0.00751 | 0.00849 | 0.00929 |
| Fibonacci | 0.00493 | 0.00561 | 0.00603 | 0.00671 | 0.00739 | 0.00781 | 0.00849 |
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