Stablecoin Market Reaches $310.117 Billion Milestone
Stablecoin Market Growth: The stablecoin market has reached a new record market cap of $310.117 billion, with Tether's USDT leading at $186.242 billion, followed by Circle's USDC at $78.315 billion. The sector has grown by 52.1% over the past year.
Performance of Stablecoins: While Tether's USDT and Circle's USDC saw increases in circulation, some stablecoins like BlackRock's BUIDL and yield-bearing stablecoins like Ethena's USDe experienced significant declines, indicating a mixed performance across the market.
Yield-Bearing Stablecoins Decline: The yield-bearing stablecoin sector has faced a downturn, with a 1.9% decline in market cap over the last 30 days, as redemptions outpaced new minting, leading to substantial drops in specific coins.
PayPal's PYUSD Adoption: PayPal has begun allowing U.S.-based YouTube content creators to receive payouts in PayPal USD (PYUSD), which has seen a 13.33% increase in market cap, highlighting the growing adoption of payment-focused stablecoins.
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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 7 technical signals, shows that 5 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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