Elixir Team Reveals Shutdown of deUSD Project Following $93 Million Disappearance
Elixir Shuts Down deUSD: The Elixir team announced the shutdown of deUSD due to issues with the Stream Finance platform, which holds about 90% of the stablecoin's supply, leading to a loss of its dollar peg and a price drop to $0.09.
Connection to Stream Finance: deUSD was linked to xUSD through liquidity and lending mechanisms, and the collapse of deUSD is attributed to Stream Finance's liquidity issues, which were exacerbated by a $93 million loss from an external manager.
Redemption Process: Elixir has processed around 80% of deUSD redemption requests at a 1:1 rate, excluding Stream Finance's holdings, and users can claim equivalent USDC through a provided redemption link, although issuance and redemption mechanisms are now suspended.
Future Plans: The Elixir team plans to collaborate with other projects to assist in debt recovery efforts for Stream Finance, while advising against any further investment in deUSD, which has been decommissioned.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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