Coinbase CEO Opposes Wall Street on Crypto Regulations
- Regulatory Clash: Coinbase CEO Brian Armstrong openly opposes Wall Street's cryptocurrency regulations, particularly regarding stablecoin yields, which could impact up to $6.6 trillion in deposit allocations, potentially altering traditional banks' lending practices.
- Call for Market Competition: Armstrong's stance is supported by Stripe CEO Patrick Collison, as both advocate for a more competitive market environment, emphasizing the potential threat of stablecoin yields to bank deposits, which could lead to significant regulatory changes.
- Prospects for New Regulatory Frameworks: Insights from Coincu's research team suggest that Armstrong's position may pave the way for new regulatory frameworks, with stablecoin issuers facing stricter regulations that could drive transformations in traditional banking models.
- Stablecoin Market Dynamics: Despite a 15.74% drop in USDC trading volume over the past 24 hours, its price remains stable at $1.00, with a market cap of $70.42 billion, demonstrating the resilience of the stablecoin market amid ongoing regulatory discussions.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 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 stock.
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 | -0.00284 | 0.00635 | 0.0143 | 0.0235 | 0.0315 | 0.0407 | 0.0487 |
| Fibonacci | 0.00635 | 0.0129 | 0.017 | 0.0235 | 0.0301 | 0.0341 | 0.0407 |
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