XDC Network Experiences 200% Surge in USDC Supply Following Acquisition of Trade Finance Platform
USDC Supply Surge: Circle's USDC stablecoin supply on the XDC Network increased by approximately 200% in October, coinciding with XDC's acquisition of Contour Network, a digital trade finance platform aimed at integrating stablecoins into trade processes.
Contour Network Acquisition: The acquisition of Contour Network, which was previously backed by major banks, aims to restructure the platform with new capital and focus on stablecoin integration for trade settlements, addressing inefficiencies in traditional trade finance.
Institutional Interest in Blockchain: The significant increase in USDC supply suggests institutional testing of stablecoin settlement infrastructure and reflects a broader trend of global banks exploring blockchain-based systems for trade finance and tokenized assets.
Challenges in Blockchain Adoption: Despite advancements, many bank-led blockchain initiatives face commercialization challenges due to the need for coordination among multiple institutions, competitive dynamics, and regulatory uncertainties impacting adoption.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN 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, TOKEN 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 $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000696 | 0.00175 | 0.00258 | 0.00363 | 0.00446 | 0.00552 | 0.00634 |
| Fibonacci | 0.00175 | 0.00247 | 0.00292 | 0.00363 | 0.00435 | 0.0048 | 0.00552 |
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