Peter Thiel-Backed Bullish Embraces $1.15 Billion in Stablecoin Funding for Public Offering: A 'New Normal' on the Horizon?
Historic IPO Announcement: Cryptocurrency exchange Bullish (BLSH) reported that it received $1.15 billion from its initial public offering in stablecoins, a first for the U.S. IPO market.
Stablecoin Usage: The majority of the proceeds were accepted in USDC and EURC stablecoins, with Coinbase acting as the custodian, and most stablecoins minted on the Solana network.
Market Reaction: Following its debut at $90.45 per share, Bullish's stock fell 12.49% since then, closing at $59.51 after a 6.09% drop during regular trading.
Investor Interest: Notable investors like Peter Thiel and Cathie Wood's Ark Invest have shown significant interest in Bullish, with Ark Invest acquiring over 356,000 shares valued at approximately $21.2 million.
Get Real-Time Alerts for Any Crypto Movement
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 | - | - | - | - | - | - | - |
About the author
