Robinhood Launches Public Mainnet for Blockchain Initiative
- Mainnet Launch: Robinhood Chain officially launched its public mainnet on Wednesday after approximately four months of testing, marking a concrete step in its blockchain strategy aimed at supporting the tokenization of real-world assets and enhancing its competitiveness in the crypto and DeFi sectors.
- Tokenized Stock Products: Robinhood announced that its tokenized stock products are now live in its wallet app across over 120 countries, with plans to launch crypto trading in the UK soon, demonstrating its commitment to global market expansion.
- Decentralized Lending Feature: The newly introduced Robinhood Earn allows users to lend USDG stablecoins from a self-custody wallet with an estimated annual yield of around 7%, which not only enhances asset management flexibility for users but may also attract more participants to its DeFi ecosystem.
- Competitive Landscape: Robinhood Chain enters a highly competitive Ethereum layer 2 market, especially after platforms like Base experienced reliability issues, making Robinhood's mainnet launch a crucial step to ensure stable operation under user load.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI). As of , DeFi (DEFI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DEFI 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, DEFI 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 $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0000936 | 0.000122 | 0.000151 | 0.000179 | 0.000209 | 0.000237 | 0.000266 |
| Fibonacci | 0.000122 | 0.000144 | 0.000157 | 0.000179 | 0.000201 | 0.000215 | 0.000237 |
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