JupUSD Stablecoin Launches on Solana with BlackRock BUIDL Backing
- Stablecoin Innovation: JupUSD launched on February 15, 2025, on the Solana platform as the primary unit of account for the Jupiter protocol, specifically designed to address previous stablecoin limitations within the Solana network, thereby enhancing user experience and financial stability.
- Partnership Dynamics: Jupiter established a partnership with Ethena to exclusively manage JupUSD's reserve assets, leveraging Ethena's expertise in synthetic dollar protocols and reserve management, which adds credibility to the stablecoin initiative.
- Asset Backing Structure: JupUSD maintains reserves composed of 90% USDtb (backed by BlackRock's BUIDL) and 10% USDC, creating a multi-layered asset backing structure that provides institutional validation and signifies the maturation of decentralized finance.
- Market Impact: The launch of JupUSD is expected to attract increased institutional capital into Solana DeFi, potentially reshaping liquidity distribution and prompting other decentralized exchanges to develop similar native stablecoin solutions.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00245 | 0.00654 | 0.0147 | 0.0237 | 0.0319 | 0.0409 | 0.0491 |
| Fibonacci | 0.00654 | 0.0131 | 0.0172 | 0.0237 | 0.0303 | 0.0343 | 0.0409 |
About the author
