Elixir Halts deUSD After Stream Finance's $93 Million Loss and Market Instability
Elixir and deUSD Crisis: Elixir has halted support for its synthetic stablecoin, deUSD, after Stream Finance reported a $93 million loss, leading to a significant drop in deUSD's value and withdrawal freezes for affected holders.
Stream Finance's Financial Issues: Stream Finance revealed $285 million in total liabilities, including $68 million owed to Elixir, causing its Staked Stream USD (XUSD) stablecoin to collapse to around $0.10, raising concerns about high leverage and project reserves.
DeFi Security Concerns: The situation highlights ongoing risks in decentralized finance (DeFi), particularly regarding transparency and counterparty risks, as Stream's reliance on external fund managers has come under scrutiny.
Balancer Hack and Recovery Efforts: Balancer experienced a hack resulting in over $128 million in losses, with partial recovery efforts underway, including the recovery of $19.3 million in stolen assets, while investor confidence remains fragile following the incident.
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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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