VISA Survey Uncovers Stablecoin Reality, 90% Users Aren’t Real
- Visa's Metric on Stablecoin Transactions:
- A new metric co-developed by Visa Inc. reveals that over 90% of stablecoin transaction volumes are not from genuine users, indicating a slow adoption rate for these crypto tokens as payment methods.
- Bot-based Transactions Rising:
- Visa and Allium Labs created a dashboard to filter out bot-initiated transactions, showing that only $149 billion out of $2.2 trillion in April transactions were from authentic users.
- Challenges to Stablecoin Adoption:
- Despite claims of revolutionizing the payments industry, stablecoins face hurdles in gaining widespread acceptance, with issues like double-counting affecting their perceived value.
- Industry Players' Views:
- Fintech giants like PayPal and Stripe are exploring stablecoins, with optimism expressed for their potential, but short-term focus is on improving existing payment systems.
- Future Predictions:
- Analysts predict that the total value of all stablecoins in circulation could reach $2.8 trillion by 2028, posing potential challenges for traditional payment processors like Visa.
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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 | -0.00285 | 0.00634 | 0.0143 | 0.0235 | 0.0315 | 0.0407 | 0.0487 |
| Fibonacci | 0.00634 | 0.0129 | 0.017 | 0.0235 | 0.0301 | 0.0341 | 0.0407 |
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