GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading.
Let’s check the latest crypto news stories in the last 24 hours.
Market Analysis and Updates 📈
Crypto Price Update
Here are the crypto highlights of the day:
- Bitcoin (BTC): $65,232, up 0.,4% over the last 24 hours.
- Ethereum (ETH): $3,574, up 1.3% over the last 24 hours.
- Solana (SOL): $136.35, down 1.4% vs the previous day.
Trending Coins Update
- TOKPIE: $0.7795, up 224% vs the previous day.
- LandWolf: $0.0001, up 53% over the last 24 hours.
- BEFE: $0.0002, up 26% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: Bitcoin Whales Cashed Out $1.2 Billion
Investors with a large number of bitcoins, known as whales, have sold $1.2 billion worth of bitcoin in the past two weeks.
What’s the significance: This large sell-off could make the current drop in Bitcoin prices worse, affecting everyone who invests in cryptocurrencies.
Bitcoin’s price has already fallen by 6.6% in the last week, and Bitcoin ETFs have seen $300 million in withdrawals, Decrypt reported.
How it works: Many of these Bitcoin sales happened through brokers, so the impact on the market may not have been felt yet.
What’s next: If more whales and Bitcoin ETFs continue to sell, it could lead to bigger drops in Bitcoin prices. Keep an eye on Bitcoin prices, especially if they fall below the average price paid by recent buyers.
Feature News: US SEC Drops Investigation Into Ethereum — ConsenSys
The U.S. SEC has ended its investigation into Ethereum 2.0 without pressing any charges, says ConsenSys, a leading Ethereum developer.
What’s the significance: This means that selling ETH is not considered a securities transaction, providing reassurance to developers and users of Ethereum.
The big picture: This is a major victory for the crypto industry. The SEC had already approved Ethereum ETFs, suggesting they view ETH as a commodity.
However: ConsenSys is still challenging the SEC in court to clarify if MetaMask Swaps and Staking violate securities laws. This legal fight began after the SEC issued a warning about MetaMask.
What’s next: The ongoing lawsuit aims to secure clear regulations for the crypto industry, which ConsenSys believes are necessary for innovation and growth in blockchain technology.
Local Crypto News 🇵🇭
- Coins.ph listed the token OrangeDX (O4DX).
- Blockchain Council of the Philippines general meeting.
Educational Corner 🎓
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Brazil‘s tax authority, Receita Federal, plans to tighten regulations on foreign cryptocurrency exchanges operating in the country to ensure compliance with taxation and legal requirements.
- South Korea‘s upcoming law on virtual asset user protection, effective July 19th, mandates exchanges to assess the reliability of more than 600 crypto assets they currently list, with regular reviews every three months following initial evaluations every six months.
- Canada’s Coinbase directorhighlighted at a conference that while regulators are collaborative, Canadian lawmakers lack engagement with the crypto industry.
Community Spotlight 🔦
Meet Icesteam Jimenez: He is a Community Manager at ZKEX.com and the co-founder of Innovative Movement of the Philippine Association of Crypto Traders (IMPACT).
- Check out news about IMPACT here.
- Today, he will also guest at the BitPinas Webcast 53 to discuss tips on how to safeguard your crypto assets from malicious threats.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- LayerZero token eligibility – check here.
- VCs pour $750m into AI crypto race — here’s who’s winning.
- Linkedin rival Bondex raised over $10 million.
- Marathon’s Layer-2 chain called Anduro plugs in ‘Portal to Bitcoin’ for Atomic Swaps.
- Arbitrum market cap has grown but ARB token at all-time low.
- TIME is Fox Corporation’s 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.
Read More: Bitcoin Whales Cashed Out $1.2 Billion in 2 Weeks | Key Points | June 20, 2024