Elixir Discontinues deUSD Stablecoin Following Stream's $93 Million Loss
Elixir's Withdrawal from deUSD: Elixir has ceased support for its synthetic stablecoin, deUSD, following the $93 million loss reported by Stream Finance, which has led to a significant depeg of deUSD from the US dollar.
Impact of Stream Finance's Loss: Stream Finance halted withdrawals after disclosing its financial troubles, which included substantial debt to Elixir, prompting Elixir to process redemptions for 80% of deUSD holders.
Elixir's Response to Stream's Debt: Elixir claims that Stream, which holds 90% of the remaining deUSD supply, has decided not to repay its debt, forcing Elixir to seek alternative decentralized lenders to fulfill obligations to deUSD holders.
Future Outlook for deUSD: Despite the challenges, Elixir remains optimistic about honoring deUSD redemptions at a 1:1 ratio and has disabled withdrawals to mitigate risks associated with Stream's potential liquidation of deUSD.
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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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