Paxos Reportedly Downsizes Workforce by 20%: Details
- Paxos Layoffs: Paxos, a stablecoin issuing company, has laid off 20% of its workforce, reducing employee count by 65 individuals to focus on tokenization and stablecoins.
- Employee Benefits: The affected employees were offered three months of subsidized health insurance, severance pay, an extension to exercise vested options, bonuses, and other benefits.
- Financial Position: Despite the layoffs, Paxos claims to be in a strong financial position with over $500 million on its balance sheet.
- MoonPay Layoffs: MoonPay, a crypto payments infrastructure company, also let go of 10% of its workers due to overinvestments, aiming to improve cost structure and foundation.
- New Stablecoin Launch: Paxos' UAE arm launched a new yield-bearing stablecoin called Lift Dollar (USDL) designed to pay daily yields to eligible wallet addresses.
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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 6 technical signals, shows that 4 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 | -0.00282 | 0.00636 | 0.0144 | 0.0235 | 0.0315 | 0.0407 | 0.0487 |
| Fibonacci | 0.00636 | 0.0129 | 0.017 | 0.0235 | 0.0301 | 0.0341 | 0.0407 |
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