FinTech Metrics | 11.08.2021

BlockchainIST Center

Published in

BCISTCenter

4 min readNov 8, 2021

Social Media: LinkTree

In the last year, the increase in unicorns has increased, creating the steepest curve of all time.

Further Reading: Payments are eating the world

Latest Headlines

Bank of China reveals machine that converts foreign currency to Digital Yuan.
According to a new JP Morgan research, in 2020, of the US$240 trillion in global payment flows, approximately US$1.1 trillion came from embedded payments.
Mynt, the mobile payment and credit service, becomes first unicorn born in the Philippines, where the number of fintech companies increased to around 200 last year from just 30 in 2016, after US$300 million funding round by global investors.
Thailand’s oldest bank SCB acquires 51% stake in crypto exchange Bitkub.
According to JPMorgan’s latest report, a CBDC network could save global corporates over $100 billion a year in transaction costs when it comes to cross-border payments.

Technical Analysis

BITCOIN [BTC] — 66,484.47 USD

The price of Bitcoin, which gained about 2.98 percent in the morning hours, is at $ 65,222. Real-world usage is one of the main adaptation factors for Bitcoin as it is for every cryptocurrency. Over the next seven days, the Bitcoin protocol will undergo a fork, Taproot upgrade, which aims to improve the privacy, efficiency and smart contracts capacity of the network.

When we examine the BTC/USDT parity technically, we see that the price movement continues within the ascending channel that existed as of July 20. Finding support at $60,236 on Saturday, which coincides with the channel middle band and also the Fibo’78.60 tranche, the price of BTC is increasing. Breaking the $64,000 resistance level upwards, if BTC closes daily above this level, its short-term price target is the previous peak with $67,000. Our medium-term price target is at the level of 75,000 dollars, which corresponds to the upper band of the channel.

Resistance Levels: 66.686 / 68.178 / 70.806
Support Levels: 62.566 / 59.938 / 58.446

ETHEREUM [ETH] — 4,780.51 USD

The price of Ethereum, which gained about 2.33 percent in the morning hours, is at $ 4,726. According to an official press release by an American cryptocurrency exchange used by institutional investors, the institution will offer users and partners a service to buy, sell and hold Ethereum.

When we consider the ETH/USDT parity technically, the $ 4.666 level in ETH, which has been priced above its rising trend for about a month, has been broken to the new high level. We think that ETH, which started price exploration, will continue to rise towards the $6,000 level, which is the cup-handle formation target in the weekly period. Our short-term price target for ETH is $4,950.