El Dorado Secures $9 Million in Series A Funding for Cross-Border Payments

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

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Funding Overview: El Dorado, a Latin American payments platform, has successfully secured $9 million in Series A funding led by Paradigm, with participation from Coinbase Ventures and Verda Ventures, aimed at expanding payment infrastructure and business services to meet the growing demand for cross-border payments.
User Growth: Since its founding in 2022, El Dorado has surpassed 100,000 active users and processed over 5 million transactions across 12 countries, demonstrating strong growth potential in the Latin American market, particularly in the rapidly evolving international remittance sector.
Enterprise Payment Expansion: Recently, El Dorado has expanded into business payments, launching an enterprise platform that combines fiat and stablecoin settlement, successfully onboarding over 100 business customers, addressing the demand for international settlement tools, especially in emerging use cases like electric vehicle imports.
Market Potential: Management estimates that the broader cross-border payment market in Latin America approaches $1 trillion annually, and El Dorado aims to capitalize on this market opportunity by providing efficient international payment services, particularly in smaller economies facing traditional banking system limitations.

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Technical Analysis for FORM

Technical Sentiment Analysis for Formation Fi (FORM). As of , Formation Fi (FORM) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

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

Formation Fi (FORM) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.167	0.191	0.212	0.236	0.257	0.282	0.303
Fibonacci	0.191	0.208	0.219	0.236	0.254	0.264	0.282

About FORM

BinaryX ($BNX) is the platform cryptocurrency for the BinaryX ecosystem, which includes the DAO and all products & games utilizing $BNX. BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.Some of the services provided by BinaryX includes infrastructural support, a DAO governance system, and community building to scale promising gamefi projects and bring more innovation to the blockchain gaming sector.

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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