Frax and IQ Introduce KRWQ, a Korean Won-Pegged Stablecoin on Base
Partnership Announcement: Crypto protocol Frax and AI agent platform IQ have launched KRWQ, the first fully-backed Korean won stablecoin on the Coinbase-linked Base blockchain, alongside a trading pair with USDC on the Aerodrome exchange.
Regulatory Compliance: KRWQ is designed to be fully compliant with South Korean regulations and anticipates forthcoming stablecoin legislation, although it is not marketed to South Korean residents and is intended for global DeFi markets.
Market Gap: The launch of KRWQ addresses the lack of credible won-denominated stablecoins in the market, as USD-backed stablecoins currently dominate.
Industry Pushback: The Bank of Korea's initiative for banks to lead stablecoin rollouts has faced criticism from the crypto sector, emphasizing the need for clear regulations to minimize risks and encourage innovation.
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Technical Analysis for IQ
Technical Sentiment Analysis for IQ (IQ) As of , IQ (IQ) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for IQ 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, IQ 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 $-.
IQ (IQ) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000712 | 0.000901 | 0.0011 | 0.00129 | 0.0015 | 0.00168 | 0.00189 |
| Fibonacci | 0.000901 | 0.00105 | 0.00114 | 0.00129 | 0.00144 | 0.00154 | 0.00168 |
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