Stream Finance Faces Challenges: Withdrawals Suspended Following Significant Asset Decline
Stream Finance Halts Operations: Stream Finance has suspended all transaction services, including withdrawals and deposits, after suffering a significant loss of approximately $93 million in managed assets, prompting an investigation into the causes of the crisis.
Impact on xUSD Stablecoin: The turmoil has adversely affected the Staked Stream USD (xUSD) stablecoin, which has dropped to $0.53, raising concerns about liquidity and user confidence in the platform.
Legal and Technical Review: Stream Finance has engaged Perkins Coie LLP to conduct legal and technical evaluations, focusing on regulatory compliance and cybersecurity to address the ongoing issues and protect user investments.
Call for Enhanced Security Measures: The situation has sparked discussions on the need for improved risk management and security protocols in the DeFi sector, with Stream Finance indicating potential regulatory changes to safeguard user funds in the future.
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Technical Analysis for XUSD
Technical Sentiment Analysis for StraitsX USD (XUSD) As of , StraitsX USD (XUSD) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 6 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XUSD 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, XUSD 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 $-.
StraitsX USD (XUSD) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.735 | 0.867 | 0.934 | 1.067 | 1.134 | 1.267 | 1.333 |
| Fibonacci | 0.867 | 0.944 | 0.991 | 1.067 | 1.143 | 1.19 | 1.267 |
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