April ends as a period in which many important developments in global markets are followed. In particular, this week, four major central banks — the Bank of Japan, the US Federal Reserve, the European Central Bank and the Bank of England – will announce their interest rate decisions one after another. These developments are also closely monitored in the cryptocurrency market.
Macroeconomic Agenda and Latest Situation in Bitcoin
First quarter growth figures and March inflation data from the USA will be announced during the week. In addition, the balance sheets of giant companies such as Visa, Mastercard and Robinhood have the potential to affect the direction of the stock markets. Markus Levin is a co-founder of the blockchain-based location verification protocol XYO. In his statement to CoinDesk, Levin stated that bitcoin started the week with a strong momentum at the level of 78 thousand dollars. He stated that while no change in the policy interest rate is expected from the US Federal Reserve, a tighter stance may come to the fore if inflation continues to remain high, in which case bitcoin may be pulled back to the range of 72 thousand – 74 thousand dollars in the short term.
Levin explains that the balance sheets of technology giants can strengthen or weaken current trends due to their serious impact on stock markets; He also emphasized that the developments between the USA and Iran will affect the market sentiment through oil and dollar movements.
On the other hand, while a cautious movement continues in the markets, the fluctuation caused by interest rate decisions is expected to be decisive on the crypto side.
DAO Votes and Platform Updates
Critical management votes stand out this week on decentralized platforms. Frax DAO votes on new strategies to increase asset diversity in stablecoin pools. Ether.fi DAO, on the other hand, asks its members whether a contribution will be made from the treasury to strengthen its reserves after the previous KelpDAO bridge attack.
Compound DAO is considering an update proposal for some price feeds on the Ethereum network. The Decentraland DAO is continuing its voting process to determine a strategic roadmap extending to 2030. Nouns DAO, on the other hand, is discussing the feasibility of transforming into a non-profit structure. Arbitrum DAO is also discussing whether to transfer 6 thousand ETH and USDC worth approximately 150 thousand dollars from its main treasury to its management portfolio.
New Launches, Stock Exchange and Token Movements
In the crypto ecosystem, the last week of the month sees various stock market developments and token movements. Magic Eden wallet services will be completely shut down. On April 27, Chiliz will launch the FanTokens V2.0 update. On April 28, Binance will delist Dego Finance (DEGO) and DENT tokens. Pharos’ mainnet will go live on April 28, while MegaETH’s token production event is expected on April 30.
There are also important developments on the token unlocking side. Jupiter will release 1.54 percent of its circulating supply on April 28 and 1.08 percent on May 1. In terms of value, these unlocks were recorded at $9.67 million and $40.43 million, respectively.
On the other hand, as of May 1, Venice will reduce its annual token supply from 6 million to 5 million. In addition, in parallel with important macroeconomic data in the USA, the financial results of companies such as Visa, Mastercard and Robinhood, as well as Galaxy Digital, Riot Platforms and WisdomTree will be closely followed.
Developments that will occur in the coming days in terms of the crypto industry; It is watched carefully by investors in terms of both macroeconomic indicators and sectoral innovations.
