Hacken Audit Confirms MEXC's Full Backing Amid Declining External PoR Reports
MEXC's Proof of Reserves Audit: Cryptocurrency exchange MEXC has successfully completed its first Proof of Reserves (PoR) audit by Hacken, confirming that it holds sufficient assets to fully cover user liabilities and emphasizing its commitment to transparency and overcollateralization.
Industry Context: The audit highlights a trend in the cryptocurrency exchange sector where many platforms are moving away from independent PoR audits, with MEXC standing out for its comprehensive assessment of on-chain and off-exchange liabilities, including a Merkle-tree verification for user account balances.
Commitment to Transparency: MEXC aims to enhance operational transparency and has updated its PoR framework to provide an auditable view of user balances while protecting personal data, reflecting a broader industry demand for verifiable transparency.
Future of PoR in Crypto: The audit underscores the importance of independent verification in assessing exchange solvency, amidst ongoing discussions about the need for standardized PoR frameworks, with MEXC pledging to continue its collaboration with established auditing firms.
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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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