Injective USDC to Become Core Stablecoin Standard for Cosmos and dYdX
- Liquidity Consolidation: Injective USDC is set to become the core stablecoin for the Cosmos ecosystem and dYdX platform, aiming to address fragmented stablecoin liquidity by simplifying cross-chain transactions and improving capital efficiency, thereby enhancing user experience and attracting more liquidity.
- Infrastructure Support: Skip:Go, a key infrastructure provider for Cosmos, has adopted Injective USDC as its default settlement asset, which not only elevates its standing within the ecosystem but may also encourage standardization among other projects.
- Enhanced User Experience: Users will experience fewer steps when transferring stablecoins between different Cosmos applications, with deeper liquidity pools reducing slippage and potentially lowering transaction costs, thus improving overall trading efficiency.
- Increased Market Competitiveness: By establishing a unified stablecoin standard, Cosmos can compete more effectively with monolithic blockchains like Ethereum and Solana, enhancing liquidity depth and user experience, and driving long-term growth for the ecosystem.
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Technical Analysis for DYDX
Technical Sentiment Analysis for dYdX (Native) (DYDX). As of , dYdX (Native) (DYDX) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DYDX 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, DYDX 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 $-.
dYdX (Native) (DYDX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0668 | 0.104 | 0.134 | 0.171 | 0.201 | 0.238 | 0.268 |
| Fibonacci | 0.104 | 0.13 | 0.145 | 0.171 | 0.197 | 0.213 | 0.238 |
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