News
Spot ETH ETF to Launch on This Date — Report | Key Takeaways | July 17, 2024
General manager. Welcome back to BitPinas Key Points: Easily digestible news in concise formats for easy reading. In today’s roundup: Ethereum.
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): $65,902.98, up 2.5% in the last 24 hours.
- Ethereum (ETH): $3,503.88 up 1.3% in the last 24 hours.
- Solana (SOL): $162.07, up 2.4% from the previous day.
Trending Coins Update
- Altair: $0.05379, up 296.3% from the previous day.
- Mochi: $0.00002, up 74.3% in the last 24 hours.
- hoppy: $0.00010, down 10.6% from the previous day.
For daily price updates, check out our post on Facebook.
📺 This Thursday: BitPinas Webcast with Coins and Sky Mavis!
Join us for the upcoming BitPinas webcast with Wei Zhou, CEO of Coins .ph, and Jeff Zirlin, Co-Founder of Sky Mavis, discussing the launch of PHPC (Peso Stablecoin) on the Ronin blockchain!
Announcement
Top Stories: SEC Clears Spot Ether ETFs for Trading on July 23 – Report
The SEC has given preliminary approval to at least three companies to launch spot Ether ETFs. Trading is expected to begin on July 23.
What’s the meaning: This is a big step for the cryptocurrency industry, making digital assets more accessible to traditional investors, Coin’s Telegraph AND News reported.
- This could also kick off ETH’s bull run, as expected.
Previously: Earlier this year, spot Bitcoin ETFs were successfully launched, attracting significant investment. Now, Ether, the second largest cryptocurrency, is following suit.
In numbers:
- Ether Price: Currently $3,503.88, up 7.1% today and 14.4% from last week.
- Bitcoin Market Value: Over $1 trillion.
- Ether Market Value: 359 billion dollars.
Companies must submit final documents to the SEC by the end of this week. If approved, trading would begin on July 23.
What to watch:
- The price of Ether may fluctuate depending on the date.
- Experts predict more modest investments in Ether ETFs than in Bitcoin ETFs.
What’s next: If approved, the ETFs would be listed on major stock exchanges, such as the Nasdaq and the New York Stock Exchange.
Philippine Cryptocurrency News 🇵🇭
- YGG senior executives make evident Importance of digital literacy during the YGG PH Roadtrip event.
- ICP Center PH announced that its co-founder Nelson Lumbres will speak at the World of Consumer Electronics Expo from August 7 to 10.
- Philippines Ranked 6th in the nominations for the Superteam Talent Olympics.
Educational Corner 🎓
While Telegram games are still on the rise, check out the new one from BitPinas dog guide.
- This is an emerging game in the TG Mini-Apps ecosystem that allows users to earn $DOGS tokens simply by having a Telegram account.
Regulation Watch 📜
Stay informed about the latest regulatory developments and what they mean for you:
- Hong KongFinancial Services and the Treasury Office Soon to publish the results of a consultation on stablecoin issuers, aimed at establishing a legislative framework that includes licensing requirements and regulatory measures for stablecoin issuers.
- Hong Kong Police arrested three individuals accused of defrauding a businessman of HK$3.11 million in Tether coins using bundles of counterfeit HK$1,000 notes.
- Former President Donald Trump has selected pro-crypto Ohio Senator J.D. Vance as his vice presidential nominee.
Community Spotlight 🔦
Meet Gabby Dizon: He co-founded Yield Guild Games (YGG), a web3 gaming guild focused on blockchain-based economies and slowly in transition in a web3 gaming protocol.
- He is a veteran of the video game industry with over 20 years of experience.
- Lately discussed the importance of digital literacy during the last stop of the YGG Roadtrip in Manila.
Read more articles about him Here.
More news on Web3 and AI 💡
Discover the latest in web3 and AI innovation.
- Bima Laboratoriesa developer of the Bitcoin-backed stablecoin USBD, lifted up $2.25 million in a seed funding round; the funds will support Bima’s plans to launch the USBD mainnet and governance token.
- Venture Company announced DAO TOKYO 2024, an event scheduled for August 21-22, 2024 at Kanda Myojin Shrine in Tokyo, aimed at promoting Japan’s leadership in web3 technology and DAOs.
- Solana Superteam and DroppGroup format a strategic partnership to promote the adoption of Web3 and digital technology in Saudi Arabia.
- Zeebua web3 payment platform, plans to launch ZBU protocol will revolutionize B2B payments with substantial rewards and innovations in decentralized finance.
Web3 Gaming Section 🎮
The future of web3 is gaming: here are the latest news.
- Delabs Gamesbased in South Korea, launched a new clicker game for Telegram called Giga Chad Bat.
- Meta-racea party racing game similar to Fall Guys, it was listed on the native Web3 game store HyperPlay ahead of the public beta launch on both the integrated MetaMask platform and the Epic Games Store.
- Eragon launched its V1 platform, which aims to revolutionize web3 mobile gaming with features such as a comprehensive SDK, game levels that integrate traditional and blockchain gaming, and AI-powered anti-cheating measures.
Event Announcements 📅
Do not get lost: Upcoming events, webinars and meetups in the cryptocurrency world!
Our meeting in Davao will be held on July 25, we see them!
Noteworthy 🌟
Key updates and announcements from the world of cryptocurrency and blockchain:
- Philip Gradwellformer chief economist at Chainalysis, was appointed as Tether’s Chief Economic Officer, where he will focus on quantifying Tether’s economics for regulators.
- Black rockthe activities under management overcome $10 trillion in the second quarter, up nearly 13% from the previous year to $10.6 trillion.
- Huione Paymenta Cambodian payments company linked to the country’s ruling family, inadvertently received over $150,000 in cryptocurrency from a wallet associated with North Korean hackers Lazarus between June last year and February this year.
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This article is published on BitPinas: Spot ETH ETF to launch on July 23 — Report | Key Takeaways | July 17, 2024