Lagarde: Euro Stablecoins Not Necessary
- Stablecoin Market Status: Currently, dollar-backed stablecoins dominate the market, representing 98% with Tether and Circle as key players; Lagarde emphasized that Europe should prioritize developing central bank-backed payment infrastructure to avoid reliance on the dollar and ensure financial stability.
- Qivalis Consortium's Initiative: The Qivalis consortium, comprising 12 leading European banks like ING and BBVA, announced a new euro-based stablecoin aimed at countering dollarization risks, with CEO Sell warning that without sufficient euro liquidity, the dollar will remain the only viable option for digital transactions, threatening Europe's financial sovereignty.
- Lagarde's Warnings: Lagarde highlighted that stablecoins could inflict significant damage on the financial system during periods of instability, citing the temporary de-pegging of Circle's USDC during the Silicon Valley Bank collapse, indicating that widespread use of major stablecoins could trigger new risk cycles in the broader market.
- Digital Euro Outlook: Lagarde stated that Europe must accelerate the development of its digital infrastructure to maintain influence in a rapidly digitizing world, with plans to launch a digital euro by 2029 and finalize necessary legal frameworks by 2026.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK 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, BANK 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 $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0253 | 0.0292 | 0.0318 | 0.0357 | 0.0383 | 0.0422 | 0.0448 |
| Fibonacci | 0.0292 | 0.0317 | 0.0332 | 0.0357 | 0.0382 | 0.0397 | 0.0422 |
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