Skip to main content

Biggest Movers: XMR Climbs to 6-Month High, TRX up 17% Following News of USDD Stablecoin

TRX was up by over 17% on Thursday, as founder H.E. Justin Sun announced that a new stablecoin, USDD, was going to be launched on the TRON blockchain. XMR was another big mover today, climbing to its highest point since November.

TRON (TRX)

TRX surged today, as founder H.E. Justin Sun of TRON confirmed that a new stablecoin will be launched on the blockchain.

In a tweet, Sun stated that, “TRON DAO joined hands with major blockchain players to launch USDD (Decentralized USD), the most decentralized stablecoin in human history.”

Do Kwon of Terra also welcomed the announcement, with TRX/USD rising to an intraday high of $0.07405 on the news.

As of writing, TRX is up 16.54% in today’s session, climbing to its highest point since April 2 as a result.

Today’s high sees prices near the long-term ceiling of $0.07500, which hasn’t been broken since March 31, where the move matured to being a false break.

Overall, the ceiling has held firm for most of the year thus far, however with the momentum of the moving averages now ascending, we could soon see an eventual move past this point.

One potential obstacle will be that of the 14-day RSI, which is now tracking at an eighteen-day high of 66.82, which is marginally below resistance of 68.

Monero (XMR)

XMR was up by as much as 8% in today’s session, as prices rallied to a multi-month high, following a second day of gains.

After trading at a low of $253.56 on Wednesday, XMR/USD surged to a peak of $277.14 earlier on today.

Today’s move saw XMR hit its highest point since November 14, when prices were falling from earlier highs close to $300.

As seen on the chart, XMR has now rallied past its key resistance level of $273 as a result of today’s run, however there could be another ceiling in the way.

This would be that of the 14-day RSI, which is currently residing at the 68.9 level, which is deeply overbought, and marginally below a ceiling of 69.8.

Due to the historic strength of the current price ceiling, it is likely that bears have already entered the market, with more waiting in the wings should this resistance hold.

Could we see XMR at $300 before the end of April? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/Fwgs4rh
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more