Zimbabwe’s Central Bank Has Launched a Gold-Backed Digital Currency

Join the Trading Community: Learn & Earn with BingX.

Today’s Cryptocurrency Headline 

Zimbabwe’s central bank has launched a gold-backed digital token to expand the range of value-preserving and investment tools in the economy and make it easier for the public to access the currency market. The Reserve Bank of Zimbabwe (RBZ) said the token will be exchanged in the same way as existing gold and sold through banks in local and foreign currency. The bank expects banks to create dedicated accounts for the gold-backed digital tokens, commonly known as electronic gold wallets or e-gold cards, allowing physical gold holders to convert their holdings.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Yesterday, BTC saw an initial rise followed by a decline, reaching a high of around $28,000 before falling back. The price subsequently dropped to around $27,300 before rebounding. Currently, Bitcoin is in a second wave of decline on the 4-hour chart, with short-term double-bottom and rebound formations. Short-term support is at $27,000, while resistance is at $27,800-28,100. On the daily chart, the downward trend continues, with no sign of a bottom.

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.