SoFi Launches Crypto Trading as the First National Bank in the U.S. Following Regulatory Changes
SoFi's Entry into Crypto: SoFi has become the first nationally chartered bank in the U.S. to offer cryptocurrency trading, launching its platform after receiving regulatory approval, allowing users to trade various cryptocurrencies like Bitcoin and Ether.
Development of Stablecoin and Blockchain Services: The bank is also developing SoFi USD, a fully backed stablecoin, and plans to integrate blockchain technology into its lending and payment systems to enhance transaction security and speed.
CEO's Perspective on Crypto: CEO Anthony Noto views the move into crypto as a significant innovation, comparing it to the early days of the internet, and noted that 60% of SoFi's members are interested in crypto investments.
Regulatory Changes Facilitate Return: SoFi had previously exited the crypto market due to regulatory challenges but re-entered after the Office of the Comptroller of the Currency relaxed its stance on banks' participation in digital assets.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 11 technical signals, shows that 5 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK 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, BANK 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 $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00256 | 0.0161 | 0.0264 | 0.0399 | 0.0502 | 0.0637 | 0.074 |
| Fibonacci | 0.0161 | 0.0252 | 0.0308 | 0.0399 | 0.049 | 0.0546 | 0.0637 |
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