eToro Acquires Zengo to Enhance Digital Asset Business
- Acquisition Agreement: eToro has announced its acquisition of self-custodial crypto wallet provider Zengo for approximately $70 million, primarily in cash, aiming to deepen its digital asset business and strengthen the link between traditional finance and on-chain markets.
- Technology Integration Plan: The acquisition will combine eToro's global multi-asset platform with Zengo's non-custodial wallet technology, supporting future products like tokenized assets and decentralized trading models, thereby expanding the company's footprint in blockchain-based financial products.
- User Experience Enhancement: Zengo's multi-party computation cryptography will improve the self-custody experience for users by providing a more secure key management method, while also enabling token swaps, staking, and access to decentralized applications, which is expected to attract more users to digital asset investments.
- Global Expansion Potential: With over 2 million users across more than 180 countries, Zengo's integration into eToro will facilitate the scaling of its self-custody mission globally and connect it to a broader investing ecosystem, promoting the convergence of traditional and on-chain finance.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI). As of , DeFi (DEFI) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 1 indicators are flashing buy, while 8 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DEFI 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, DEFI 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 $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00021 | 0.000251 | 0.000289 | 0.00033 | 0.000368 | 0.000409 | 0.000447 |
| Fibonacci | 0.000251 | 0.000281 | 0.000299 | 0.00033 | 0.00036 | 0.000378 | 0.000409 |
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