Coinbase Partners with Hyperliquid to Enhance USDC in DeFi

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Agreement Details: Coinbase has secured purchasing rights for USDH-branded assets from Native Markets, further solidifying its position in decentralized finance infrastructure and demonstrating its commitment to expanding in the stablecoin market.
USDC Supply Surge: Hyperliquid's circulating USDC supply has reached approximately $5 billion, doubling from the same period last year, indicating the increasing significance of stablecoins in decentralized exchanges and derivatives protocols.
Strategic Expansion Plans: By positioning USDC as an aligned quote asset within the Hyperliquid ecosystem, Coinbase aims to extend its application in decentralized trading venues beyond traditional blockchain deployments, enhancing its competitive edge.
Intensifying Market Competition: Amid heightened competition among stablecoin issuers and trading venues, Coinbase's close integration with Hyperliquid seeks to establish USDC as a core liquidity layer for decentralized trading activities, particularly in the rapidly growing perpetual futures market.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC 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, BTC 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 $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	74653.079	76703.865	78748.429	80799.215	82843.779	84894.565	86939.129
Fibonacci	76703.865	78268.288	79234.791	80799.215	82363.638	83330.141	84894.565

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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