Ledger Explores New York IPO in Response to Increased Wallet Demand
IPO Consideration: Ledger is exploring a potential IPO in New York or private fundraising due to increased demand for hardware wallets driven by rising crypto theft incidents.
Market Shift: The surge in self-custody solutions reflects a significant shift in the cryptocurrency custody landscape, with Ledger reporting record revenues and heightened scrutiny on exchanges.
Valuation and Backing: Ledger's valuation stands at $1.5 billion, supported by institutional investors like 10T Holdings, which has raised $577 million to date.
User Concerns: While Ledger's growth indicates a market shift towards self-custody, some users express skepticism about the company's multisig fee model, raising concerns about centralization.
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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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