BNY Mellon Launches Tokenized Deposit Service to Enhance Liquidity Using Blockchain
- Blockchain Deposit Service: BNY Mellon's new service allows clients to transfer funds via blockchain, placing real bank deposits on-chain, significantly enhancing liquidity and enabling margin calls without waiting for banking hours.
- Diverse Clientele: The initial clients include major institutions like Intercontinental Exchange and Citadel Securities, covering exchanges, asset managers, and a major stablecoin issuer, indicating the service's broad applicability in financial markets.
- Compliance and Trust: BNY Mellon emphasizes that its service operates within the banking system and can pay interest, distinguishing it from stablecoins, thereby enhancing client trust in the connection between traditional banking and digital ecosystems.
- Market Potential: With other large banks like JPMorgan and HSBC also advancing similar services, BNY Mellon's innovation could drive increased trading volumes across the industry, especially in the context of around-the-clock trading.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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 stock.
Support, Resistance & Moving Averages From a structural perspective, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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