Vote to use BlackRock's BUIDL as backing asset for Frax stablecoin goes live
Frax Finance Community Vote: The Frax Finance community has initiated a vote to adopt BlackRock's USD Institutional Digital Liquidity Fund Ltd (BUIDL) as a reserve asset for the proposed stablecoin Frax USD (frxUSD), with all current votes and comments in favor of the proposal, which will remain open until January 1, 2025.
Benefits of BUIDL Adoption: The adoption of BUIDL could enhance yield opportunities, liquidity, transfer options, and reduce counter-party risk, while also bridging traditional finance and decentralized finance (DeFi) through tokenized real-world assets.
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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 | - | - | - | - | - | - | - |
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