The latest price moves in crypto markets in context for April 28, 2023.
The European Central Bank wants its centralized-financial settlement systems to better interact with distributed ledger technology, as it seeks to keep pace with technological developments in financial markets. The ECB is pondering whether to issue a retail central bank digital currency for use by regular traders and citizens – but it also wants to be able to interact with innovations in wholesale financial markets, including those that use the technology that underpins cryptocurrencies.
Binance, the world’s largest crypto exchange by trading volume, is set to begin operations in Japan, according to a notice published on Friday. In November, Binance acquired the regulated Sakura Exchange BitCoin. Existing services on SEBC will be terminated on May 31, and Binance will start a new service called “Binance Japan” after June. SEBC now supports 11 trading pairs. Listing tokens on exchanges in Japan requires vetting by the Japan Virtual Currency Exchange Association.
Chart of the Day
The chart shows bitcoin’s single-day price movements and the trajectory of the 50-day simple moving average of the cryptocurrency’s price since December.
Bitcoin has bounced up from its 50-day SMA this week, defying expectations for a deeper decline and keeping the uptrend intact.
“The bulls have managed to push the price above the 50-day moving average, which is pointing up from $27,000 on Monday to $27,400,” Alex Kuptsikevich, senior market analyst at FxPro, said in an email.
“At the end of March, the market bought bitcoin near this level. In other words, we have strong indications that the first cryptocurrency maintains its uptrend,” Kuptsikevich added.