MoneyGram Launches MGUSD Stablecoin on Stellar Blockchain
- Stablecoin Launch: MoneyGram has introduced MGUSD, a U.S. dollar stablecoin on the Stellar blockchain, initially rolling out in the U.S. to serve over 60 million active customers, thereby enhancing its competitive position in the global payments network.
- Technical Collaboration: MGUSD is issued by Bridge, utilizing M0's smart contract infrastructure for token minting and burning, while Fireblocks provides custody services to ensure the security of user funds.
- Strategic Expansion: This launch represents the latest step in MoneyGram's stablecoin strategy, following last year's integration of Crossmint's wallet, further promoting stablecoin settlements and crypto cash withdrawal services to enhance user experience.
- Industry Impact: MoneyGram's MGUSD is seen as another milestone in its partnership with Stellar, showcasing the potential of blockchain in the payments sector, while reflecting a broader trend of traditional payment companies transitioning to proprietary stablecoin products.
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Technical Analysis for NIGHT
Technical Sentiment Analysis for (NIGHT). As of , (NIGHT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for NIGHT 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, NIGHT 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 $-.
(NIGHT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0214 | 0.0266 | 0.0312 | 0.0365 | 0.0411 | 0.0463 | 0.0509 |
| Fibonacci | 0.0266 | 0.0304 | 0.0327 | 0.0365 | 0.0402 | 0.0426 | 0.0463 |
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