DeFi Protocol Stream Finance Suspends Withdrawals, Faces $93M Loss as xUSD Loses Peg
Stream Finance Suspends Operations: Stream Finance has halted all withdrawals and deposits after an external fund manager reported a $93 million loss, aiming to protect user funds and assess the situation.
Investigation Launched: The company has engaged law firm Perkins Coie to conduct a comprehensive investigation into the loss, with the goal of restoring user confidence and identifying the causes of the incident.
Stablecoin Depegging: Stream's stablecoin, Staked Stream USD (xUSD), has significantly depegged from its intended value, dropping to around $0.50, indicating a loss of investor confidence in the platform.
Market Implications: The incident has raised concerns within the DeFi community regarding the risks associated with external fund management, highlighting vulnerabilities in decentralized protocols.
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Technical Analysis for XUSD
Technical Sentiment Analysis for StraitsX USD (XUSD) As of , StraitsX USD (XUSD) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 6 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XUSD 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, XUSD 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 $-.
StraitsX USD (XUSD) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.735 | 0.867 | 0.934 | 1.067 | 1.134 | 1.267 | 1.333 |
| Fibonacci | 0.867 | 0.944 | 0.991 | 1.067 | 1.143 | 1.19 | 1.267 |
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