Kraken Acquires Backed Finance to Strengthen Focus on Tokenized Stocks Before IPO
Kraken's Acquisition of Backed Finance: Kraken has acquired Backed Finance, a major player in the tokenized asset market, which will allow the exchange to consolidate control over tokenized equities and expand its offerings in this growing sector.
Growth of Tokenized Financial Products: The demand for tokenized financial products is surging, with projections indicating that tokenized real-world assets could reach $2 trillion by 2028, driven by increased interest from both retail and institutional investors.
Strategic Fit for Kraken: The acquisition aligns with Kraken's broader strategy to enhance its product offerings and regulatory reach, particularly as it prepares for a potential IPO in 2026, integrating tokenized equities into its trading and collateral systems.
Mainstream Potential for Tokenized Equities: As infrastructure and compliance improve, tokenized equities are gaining traction, with Kraken's acquisition positioning it to scale xStocks globally, potentially moving tokenized shares into mainstream financial applications.
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Technical Analysis for RED
Technical Sentiment Analysis for RedStone (RED) As of , RedStone (RED) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for RED 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, RED 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 $-.
RedStone (RED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0479 | 0.1 | 0.15 | 0.202 | 0.252 | 0.304 | 0.354 |
| Fibonacci | 0.1 | 0.139 | 0.163 | 0.202 | 0.241 | 0.265 | 0.304 |
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