Kraken Strengthens Its Position in Tokenized Markets Through Strategic Acquisition
Kraken's Acquisition of Backed Finance: Kraken is acquiring Backed Finance to enhance its tokenization strategy, internalizing the technology behind tokenized equity products as it prepares for a 2026 IPO.
Backed's Role in Tokenization: Backed has established a widely adopted infrastructure for creating on-chain representations of traditional stocks and ETFs, facilitating significant trading activity across various platforms, including Kraken.
Strategic Control Over Tokenized Assets: By owning Backed, Kraken aims to gain tighter oversight of the lifecycle of tokenized equities, ensuring better integration into its trading and collateral frameworks.
Growth of Tokenized Assets Market: The acquisition aligns with the growing momentum in real-world asset tokenization, with industry leaders predicting substantial market expansion and increased demand for tokenized products in the coming years.
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Technical Analysis for RED
Technical Sentiment Analysis for RedStone (RED) As of , RedStone (RED) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for RED 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, RED 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 $-.
RedStone (RED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0481 | 0.1 | 0.15 | 0.202 | 0.252 | 0.304 | 0.354 |
| Fibonacci | 0.1 | 0.139 | 0.164 | 0.202 | 0.241 | 0.266 | 0.304 |
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