Why Are Stablecoin Cards Gaining Traction?
- Surge in Demand: According to John Timoney, head of strategic partnerships at Rain, retail spending on stablecoin cards has surged approximately 105% to 106% over the past year, indicating strong user demand for stablecoin payment tools, particularly in Latin America, where they are expected to account for double-digit percentages in the future.
- Leveraging Existing Networks: Rain has become a Principal Member of Mastercard, utilizing existing global card networks to enable stablecoin balances to be spent across current merchant networks, thereby avoiding the need for retailers to adapt to new crypto payment systems, which enhances user experience and merchant acceptance.
- Improved Settlement Efficiency: Stablecoin settlement allows card programs to settle during weekends and holidays, cutting idle capital by over 40% in some cases, which enhances card economics, particularly in markets with less efficient banking systems.
- Barriers to Mainstream Adoption: Despite the growing use of stablecoin cards, they still account for less than 1% of global card spending according to Consensys' Ray Hernandez, with mainstream adoption relying on easier on-ramps and local payment infrastructure.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0224 | 0.0272 | 0.0307 | 0.0355 | 0.039 | 0.0439 | 0.0474 |
| Fibonacci | 0.0272 | 0.0304 | 0.0324 | 0.0355 | 0.0387 | 0.0407 | 0.0439 |
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