Bitcoin Whales Made $1.2 Billion in 2 Weeks | Key Points | June 20, 2024

GM. Welcome back to Key Points of BitPina: Easily digestible news in concise formats for easy reading.

Let’s check out the latest cryptocurrency news in the last 24 hours.

Market analysis and updates 📈

Cryptocurrency price update

Here are the cryptocurrency highlights from the day:

• Bitcoin (BTC): $65,232, up 0.4% in the last 24 hours.
• Ethereum (ETH): $3,574, up 1.3% over the past 24 hours.
• Solana (SOL): $136.35, down 1.4% from the previous day.

Trending coins update

• TOKPIE: $0.7795, up 224% from the previous day.
• LandWolf: $0.0001, up 53% in the last 24 hours.
• BEFE: $0.0002, up 26% from the previous day.

For daily price updates, see our post on Facebook.

In-depth news: Bitcoin whales have grossed $1.2 billion

Investors with large numbers of bitcoins, known as whales, have sold $1.2 billion worth of bitcoins in the past two weeks.

What’s the meaning?: This big sell-off could worsen the current decline in Bitcoin prices, affecting everyone who invests in cryptocurrencies.

Bitcoin price has already dropped 6.6% in the last week and Bitcoin ETFs have seen withdrawals of $300 million, Decrypt reported.

How does it work: Many of these Bitcoin sales were through brokers, so the impact on the market may not have been felt yet.

What’s next: If more Bitcoin whales and ETFs continue to sell, this could lead to larger declines in Bitcoin prices. Keep an eye on Bitcoin prices, especially if they drop below the average price paid by recent buyers.

In-Depth News: US SEC Drops Investigation of Ethereum — ConsenSys

The US SEC did it concluded conducted an investigation into Ethereum 2.0 without filing any charges, says ConsenSys, a major Ethereum developer.

What’s the meaning: This means that selling ETH is not considered a securities transaction, providing reassurance to Ethereum developers and users.

The big picture: This is a major win for the cryptocurrency industry. The SEC had already approved Ethereum ETFs, suggesting that ETH should be treated as a commodity.

However: ConsenSys is still challenging the SEC in court to clarify whether MetaMask swaps and staking violate securities laws. This legal battle began after the SEC issued a warning about MetaMask.

What’s next: The ongoing lawsuit aims to ensure clear regulations for the cryptocurrency industry, which ConsenSys believes are necessary for the innovation and growth of blockchain technology.

Local cryptocurrency news 🇵🇭

• Coins.ph listed the OrangeDX (O4DX) token.
• General Assembly of the Blockchain Council of the Philippines.

Educational Corner 🎓

Watch Regulations 📜

Stay informed about the latest regulatory updates and what they mean for you:

• Brazilthe tax authority, Receita Federal, plans to tighten regulations on foreign cryptocurrency exchanges operating in the country to ensure compliance with tax and legal requirements.
• South Korea‘S next law on Virtual Asset User Protection, effective July 19, requires exchanges to evaluate the trustworthiness of more than 600 currently listed crypto assets, with regular reviews every three months following initial assessments every six months.
• Canadian Director of Coinbasehighlighted in a conference that although regulators are cooperative, Canadian lawmakers lack engagement with the cryptocurrency industry.

Spotlight on the community 🔦

Meet Icesteam Jimenez: He is a Community Manager at ZKEX.com and co-founder of the Innovative Movement of the Philippine Association of Cryptocurrency Traders (IMPACT).

• Watch news on IMPACT Here.
• Todayhe will also be a guest at BitPina Webcast 53 to discuss tips on how to safeguard your crypto assets from malicious threats.

More Web3 and AI news 💡

Discover the latest news in web3 innovation and artificial intelligence.

• LayerZero Token Eligibility – check here.
• VC deposit $750 million in the AI-powered cryptocurrency race: Here’s who’s winning.
• Linkedin’s rival is Bondex lifted up over $10 million.
• Marathon Layer-2 Chain called Anduro connects “Portal to Bitcoin” for atomic exchanges.
• Arbitrum’s market capitalization has grown But ARB token at historic low.
• TIME is from Fox Corporation First external publishing partner on its Polygon-based Verify protocol.

Web3 Gaming Section 🎮

The future of web3 is gaming, and here are the latest news.

• Pixels launches Chapter 2.
• Sky Mavis reveal Level 2 solution.
• Pirate nation launches Bet $PIRATE.
• Sonic protects $12 million to expand Solana’s gaming ecosystem.
• TZ APAC launches gamified rewards program.

Event announcements 📅

Not to be missed: Upcoming events, webinars and meetups in the crypto space!

Happening today:

Soon:

Noteworthy 🌟

Key updates and announcements from around the world of cryptocurrency and blockchain:

• Ripple CEO Brad Garlinghouse revealed in an interview that Ripple is working with around 10 governments around the world on central bank digital currencies (CBDCs).
• Kraken reveals was exploited for almost $3 million in a bug that has now been fixed.
• Martin Shkreli He says he is behind the DJT coin linked to Donald Trump.

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This article is published on BitPinas: Bitcoin Whales Made $1.2 Billion in 2 Weeks | Key Points | June 20, 2024

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