CryptoFinance Metrics | 07.07.2021

BlockchainIST Center

Published in

BCISTCenter

4 min readJul 7, 2021

Social Media: LinkTree

There are 6.16 million ETH staked for ETH 2.0 contract by 37774 staker addresses. Currently, staking ROI is 7.29%.

Further Reading: How to become a validator and help secure the future of Ethereum?

Latest Headlines

According to new research published by Crypto Head, the US is the world’s most “crypto-ready” country, followed by Cyprus, Singapore, Hong Kong and the UK.
The CFO of VISA told that crypto transactions for its crypto-linked cards have exceeded $1 billion in the first two quarters of 2021.
International auction house Sotheby’s will accept payment in Bitcoin or Ether at the sale of a 101.38-carat diamond this Friday.
Ethereum gas price has dropped down to its lowest levels since March, 2020. While a few months ago average gas price regularly reached 150–200 GWEI, average gas price has decreased to the 15–30 GWEI range since the end of May.
Bank of Jamaica plans its central bank digital currency (CBDC) pilot for August.

Technical Analysis

BITCOIN [BTC] — 34,687.75 USD

The price of Bitcoin, which gained 2 percent in the morning hours, is $34,880. On July 6, with the effect of the FUD news from the Central Bank of China at $ 35,000 levels, Bitcoin started the day positively, which had decreased to $ 33,500. When we examine the chain data, we interpret the net $205 million Bitcoin outflow from the stock markets yesterday and the 6% increase in the number of new addresses in the last 24 hours as of the morning hours as positive.

When we consider the BTC/USDT parity technically, BTC, which broke the downward trend that has been going on since May 10, retested this descending trend yesterday, while the RSI found support at 43.54 levels. Priced at $34,880 as of the morning hours, BTC Fibo is priced just above the 23.60 retracement level ($34,828). If it can be sustained above these levels in the 4-hour period, the $35,600–35,800 band will work as the closest resistance levels. The $33,500 levels will be a strong support level if the price continues to trend downwards. In the short term, buying near support and selling near resistance will be a healthier strategy.

Resistance Levels: 35.387 / 35.976 / 36.893
Support Levels: 33.881 / 32.964 / 32.375

ETHEREUM [ETH] — 2,361.35 USD

The price of Ethereum, which gained 2.5 percent in the morning hours, is $ 2379. We see the effect of positive news on Ethereum, such as the statement by Goldman Sachs that Ethereum can surpass Bitcoin as a store of value, and the ETH 2.0 staking service announced by Sygnum Bank. Considering the London hard fork that will take place this month and the positive news flow, we maintain our medium-term positive view for Ethereum.

When we consider the ETH/USDT parity technically, we see that it is priced at $2379, just above its 50-day moving average ($2370) as of the morning hours. If Ethereum manages to hold above its 50-day moving average, we expect the price to move towards the $2438 levels. On possible retracements, the closest support level will be the $2329 levels, which coincides with the Fibo’23.60 retracement level. MACD and Parabolic SAR are maintaining their upside signal.