💹 Market overview April 13, 2021

Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:

BTC. The movement of the asset occurs already outside the figure of technical analysis – the "ascending triangle", indicated on the chart. On the four-hour timeframe, the price of the instrument went beyond the lower border of the "triangle" and found support on the average moving 20 MA 4H, from which it bounced to the level of the upper moving indicator "Bollinger Bands". The chart shows the compression of the price of the instrument to the level of $60,400, the asset is trading above the moving averages – the overall picture is still bullish. A likely scenario for the development of the situation will be the consolidation of bitcoin above the "triangle" with the subsequent upward momentum. If the price goes beyond the lower limit of the figure, the asset will decline to the support level at $59,400.

ETH. The asset is trading above the support level - $2145, the nearest resistance that keeps the ether from price expansion in the pair against the dollar - $2190.

The largest cryptocurrency exchange Binance has launched commission-free trading of tokenized shares. The first asset available to users of the exchange was shares of the company Tesla, but in the future this list is promised to expand. Binance Stock Tokens are digital tokens that are fully backed by underlying securities. The product was launched jointly with the investment company CM-Equity AG and the Swiss platform Digital Assets AG. The tokens are traded in pairs with the Binance USD stablecoin (BUSD) and give their holders the right to a part of the company's real securities. Unlike securities, tokens can be divided into parts, which gives exchange users the opportunity to trade fractional shares. Holders of tokenized shares have the right to pay dividends, but do not have the right to vote.

Binance was able to reach a capitalization of $91 billion without an IPO, the value of BNB at the moment reached $638, the exchange's token increased 17 times at the peak since the beginning of the year. It should be noted that the FTX exchange has long provided access to tokenized shares of large companies, however, in terms of creating and developing an ecosystem around its platform, it is inferior to Binance. Binance Smart Chain is gaining momentum, becoming a real competitor to the second largest cryptocurrency by capitalization. Using the # BUSD pair when trading tokenized stocks will increase the attractiveness of BSC. The new product for Binance will become a link between the world of traditional finance and cryptocurrencies. This will expand the public's access to the stock markets and strengthen the exchange's position.

The announcement of the upcoming launch of FastSwap DEX based on Binance Smart Chain caused FAST to grow by 35% (against the dollar).

The listing of Poolz Finance (POOLZ) on the MXC exchange led to a 30% rise in the price of POOLZ at the peak (against the dollar).

The US stock market began trading lower on Monday, moving away from record highs ahead of the start of the next season of quarterly reports. Participants in the deals ignored comments from Federal Reserve Chairman Jerome Powell, who said over the weekend that the US economy is at a "tipping point" before a sharp pick-up in economic activity, and more importantly from the Fed's point of view, employment. As a result, the stock market ended mixed on Monday, with gains in the consumer goods, industry and finance sectors and negative trends in the oil and gas, technology and healthcare sectors.At the close on the New York Stock Exchange, the Dow Jones fell by 0.16%, the S&P 500 index rose by 0.01%, the NASDAQ Composite index fell by 0.36%.

The total capitalization of digital assets over the past 24 hours has increased by 0.2%, the dominance of the main cryptocurrency over the past day has increased to 55.9%, at the time of writing, it has not actually changed and is 55.6%, which indicates the consolidation of bitcoin. The general trend of the cryptocurrency market is bullish, in the near future, an increase in market volatility is likely in the direction of its growth.

Posted Using LeoFinance ^Beta