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Sberbank Executes First Digital Asset Transaction on Its Blockchain Platform

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Today’s Cryptocurrency Headline

Russia’s largest state-owned commercial bank, Sberbank, said on Saturday it had executed the first digital financial asset transaction on its own platform, with its subsidiary SberFactoring executing a 1-billion rouble ($16 million) issue with three-month maturity. Sberbank said in a statement that its platform uses blockchain technology and smart contracts to issue digital assets. The platform will soon be available to all the bank’s corporate clients. In March this year, Sberbank obtained a digital asset issuance and exchange license issued by the Central Bank of Russia.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to Glassnode, Bitcoin miner balances hit a seven-month low of 1,819,038.702 BTC, which means that the miners have been selling the mined BTC recently. Bitcoin is down -3.75% over the last 24 hours and fell to an intraday low of $20,635.00. The largest cryptocurrency closed below the 20-day exponential moving average (EMA) ($21,160) on Sunday, suggesting the bulls may have lost the upside momentum. The bears are trying to sustain the price below the 20-day EMA ($21,160). If this happens, the BTC/USDT pair could find support for around $20,000. Conversely, if the price breaks above the 20-day EMA ($21,160), the BTC/USDT pair could rally toward the 50-day EMA ($24,274).

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