ShareSonic Labs Launches USSD Stablecoin Backed by U.S. Treasury Assets
- Stablecoin Launch: ShareSonic Labs announced the launch of USSD on March 9, a stablecoin backed 1:1 by high-quality U.S. Treasury assets, providing a new source of stable liquidity for the Sonic blockchain ecosystem and enhancing trading, lending, and payment capabilities in decentralized finance applications.
- Asset Backing Structure: The reserves for USSD include tokenized Treasury products linked to major financial institutions such as BlackRock, Superstate, and WisdomTree, ensuring transparency and stability while adhering to the clear redemption mechanics used by Frax (FRAX).
- Fee-Free Minting: Users can mint USSD through non-custodial smart contracts on the Sonic network, with supported dollar assets deposited at a one-to-one ratio and no fees for the minting process, thereby lowering entry costs for liquidity providers and DeFi participants.
- Cross-Chain Support: USSD launches with cross-chain minting support from over ten blockchain networks, allowing users to deposit assets on other chains and receive USSD directly on Sonic, facilitating smoother liquidity movement between ecosystems and reducing barriers caused by fragmented markets.
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Technical Analysis for S
Technical Sentiment Analysis for Sonic (prev. FTM) (S). As of , Sonic (prev. FTM) (S) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 1 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for S 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, S 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 $-.
Sonic (prev. FTM) (S) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0298 | 0.0356 | 0.0403 | 0.046 | 0.0507 | 0.0564 | 0.0611 |
| Fibonacci | 0.0356 | 0.0396 | 0.042 | 0.046 | 0.05 | 0.0524 | 0.0564 |
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