Could stablecoin volumes overtake Visa this quarter?
Stablecoins vs. Visa:
- Research suggests stablecoins may surpass Visa in total payment volume this quarter.
- Stablecoins are praised for convenience, speed, and cost-effectiveness in cross-border transactions.
- Major banks are exploring the use of stablecoins for payment processing.
- Visa's head of crypto disagrees with the potential of stablecoins overtaking Visa, citing concerns about on-chain transactions.
- Visa's dashboard indicates that a significant portion of stablecoin transactions involve bot activity and automated transactions.
Stablecoin Market Insights:
- The total volume of stablecoin transactions in April was around $2.2 trillion.
- Visa collaborated with Allium Labs to develop an adjusted metric for stablecoin transaction analysis.
- The stablecoin market capitalization is approximately $161 billion, with a daily trading volume of $37 billion.
- Other payment giants like PayPal and Stripe are entering the stablecoin space.
- Ripple announced plans to launch a USD-backed stablecoin to compete with existing market leaders.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 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 stock.
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 | -0.00285 | 0.00634 | 0.0143 | 0.0235 | 0.0315 | 0.0407 | 0.0487 |
| Fibonacci | 0.00634 | 0.0129 | 0.017 | 0.0235 | 0.0301 | 0.0341 | 0.0407 |
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