News
₱12.1 Billion Liquidated as BTC, ETH Prices Drop | Key Takeaways | July 4, 2024
General manager. Welcome back to BitPinas Key Points: Easily digestible news in concise formats for easy reading. Our in-depth article today: The cryptocurrency market shows once again how unpredictable it can be.
Here is the latest cryptocurrency news from the last 24 hours.
Market Analysis & Updates 📈
Cryptocurrency price update
Here are the crypto highlights of the day:
- Bitcoin (BTC): $60,309.47, down 3.0% over the past 24 hours.
- Ethereum (ETH): $3,303.91, down 3.5% in the last 24 hours.
- Solana (SOL): $142.27, up 4.1% from the previous day.
Trending Coins Update
- Megalink: $0.1044, up 27.2% from the previous day.
- Cryptex Finance: $3.95, up 15.6% in the last 24 hours.
- Harpoon: $0.0357, down 12.5% from the previous day.
For daily price updates, check out our post on Facebook.
📺 Coming tonight: DeFi Webcast
Tonight on the BitPinas webcast: For the next installment of our beginner’s guide series, where we will talk with Paolo Dioquino from Pendle Finance, DeFi Philippines, and ETH63. In this session, Paolo will cover the basics of decentralized finance (DeFi) and share practical tips to help you navigate this innovative financial landscape.
Top Stories: Crypto Market Sees $200M Liquidations
Over 74,000 traders lost $208 million as Bitcoin and Ethereum prices fell.
What’s the meaning? This shows how risky and unpredictable the cryptocurrency market can be, especially for those betting on rising prices.
- Cryptocurrency market is unstable due to US monetary policy, global tensions and the upcoming US presidential election, says Decipher.
In numbers:
- Bitcoin dropped from $62,200 to $59,425, then rose again to $60,200.
- Ethereal It dropped from $3,425 to $3,254, and is now trading at $3,300.
- Solana took a hit, falling 8% to $140.
However: Despite the drop, experts think prices could rise again later this year. (Coindesk is report (Expectations for Bitcoin to hit $150,000 are still intact.)
What to watch: Keep an eye on Ethereum Spot ETFswhich is expected to go on sale in mid-July, which could push up ETH prices.
- Investors should also monitorr Bitcoin mining metrics as conditions suggest prices may have bottomed out, signaling a possible recovery.
Philippine Cryptocurrency News 🇵🇭
- BitPinas Article on PDAX launching the Hold and Earn promotion.
- Own announced its partnership with Alex the Parrot for its incentivized testing program Ownchain.
- Pay released Paytaca Talks Episode #15 covering the live discussion and presentation during the launch of Paytaca’s P2P Exchange and Marketplace.
- YGG E-Sports announced It will be hosting a live stream of ParallelTCG Season 5 on July 5.
Educational Corner 🎓
Airdrop season isn’t over yet: Check this out updated list of airdrops to watch in 2024, with over 130 confirmed, ongoing, and potential cryptocurrency airdrops for the year.
Regulation Watch 📜
Stay informed about the latest regulatory developments and what they mean for you:
- Coinbase and Ripple I am leveraging a recent court ruling in the SEC case against Binance, which rejected claims that secondary sales of BNB were securities, to support clearer regulatory guidelines on cryptocurrencies.
- Hong Kong’s Finance Secretary Christopher Hui indicated that regulators will review cryptocurrency regulations in response to market developments.
- South Korea cryptocurrency exchanges are address concerns on potential mass delistings, launching a comprehensive six-month review of 1,333 cryptocurrencies, as required by new investor protection laws that came into force on July 19.
- Monetary Authority of Singapore (MAS) lifted up the risk level for cryptocurrency exchange platforms from medium-low to medium-high under the updated laws on combating the financing of terrorism (CFT).
Community Spotlight 🔦
Meet Paolo Dioquino: He is a well-known opinion leader in the Philippine web3 community.
- He is part of Pendle Finance.
- Dioquino is also the co-founder of two communities, ETH63 and DeFi Philippines.
- In fact, he is the speaker for tonight’s episode We continue our beginner series by focusing on “DeFi” and the latest developments in the space.
- Discover his journey web3 Here.
More news on Web3 and AI 💡
Discover the latest in web3 and AI innovation.
- Open the ledgera blockchain company focused on permissionless, data-centric infrastructure for AI development, lifted up $8 million in seed funding round.
- Sentientan open source AI development platform co-founded by Sandeep Nailwal of Polygon, lifted up $85 million in a seed round.
- Vitalik Buterin invested in MegaETH, a new blockchain promising 100,000 transactions per second, which raised $20 million in a seed funding round led by Dragonfly Capital.
Web3 Gaming Section 🎮
The future of web3 is gaming: here are the latest news.
- HashKey Group launched an airdrop to the community via a Telegram game to distribute 10 million HSK tokens ahead of the planned Q3 listing.
- OKX launched “OKX GameSphere”, a dedicated platform for web3 crypto game developers, providing a range of solutions including Wallet as a Service (WaaS), APIs, and game promotion tools to accelerate game launches and improve player engagement.
- Pixel AND exploring expanding its franchise with additional games in its universe and a potential Telegram integration to attract more players.
Event Announcements 📅
Do not get lost: Upcoming events, webinars and meetups in the cryptocurrency world!
Upcoming events:
Noteworthy 🌟
Key updates and announcements from the world of cryptocurrency and blockchain:
- Telegram Mini App Developers can now exchange Stars, a virtual points system introduced in June, for Toncoin (TON) or discounted ads on Telegram.
- The Kraken AND considering partnering with power providers to use small modular nuclear reactors (SMRs) to power its data centers in North America and Europe.
- Worldcoin builder, Tools for Humanity, hired four former executives from Google, X (formerly Twitter) and Apple to strengthen privacy, security and identity management.
Stay connected:
We would love to hear from you! Please respond with your thoughts or questions.
This article is published on BitPinas: ₱12.1 Billion Liquidated as BTC, ETH Prices Drop | Key Takeaways | July 4, 2024