DeFi
£12.1bn liquidated as BTC and ETH prices crash | Key points | 04 July 2024
DG. Welcome back to BitPinas Key Points: easily digestible information in concise formats for easy reading. Our feature article today – the cryptocurrency market shows again how unpredictable it can be.
Here’s the latest crypto news from the last 24 hours.
Market Analysis and Updates 📈
Cryptocurrency Price Update
Here are the highlights of the day in cryptocurrencies:
- Bitcoin (BTC): $60,309.47, down 3.0% in the last 24 hours.
- Ethereum (ETH): $3,303.91, down 3.5% in the past 24 hours.
- Solana (SOL):$142.27, up 4.1% from the previous day.
Coin Trends Update
- Megalian: $0.1044, up 27.2% from the previous day.
- Cryptex Finance:$3.95, up 15.6% in the last 24 hours.
- Point: $0.0357, down 12.5% from the previous day.
For daily price updates, check out our article on Facebook.
📺 Tonight: DeFi Webcast
Tonight on the BitPinas Webcast: For the next installment of our beginner’s guide series, where we will speak with Paolo Dioquino of 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.
Featured News: Cryptocurrency Market Sees $200 Million in Liquidations
More than 74,000 traders lost $208 million as Bitcoin and Ethereum prices plummeted.
What is the signification ? This shows how risky and unpredictable the cryptocurrency market can be, especially for those betting on price rises.
- The cryptocurrency market has been volatile due to U.S. monetary policy, global tensions and the upcoming U.S. presidential election, according to Decrypt.
In numbers :
- Bitcoin fell from $62,200 to $59,425, but rebounded to $60,200.
- Ethereum fell from $3,425 to $3,254, now trading at $3,300.
- Solana took a hit, falling 8% to $140.
However: Despite the drop, experts believe prices could rise again later this year. (Coindesk is report (Expectations that Bitcoin could hit $150,000 are still intact.)
What to watch: Keep an eye on Ethereum Spot ETFis expected to begin trading by mid-July, which could boost ETH prices.
- Investors should also watchr Bitcoin mining metrics as conditions suggest prices may be bottoming out, signaling a possible recovery.
Cryptocurrency News in the Philippines 🇵🇭
- BitPinas article on PDAX launches its Hold and Earn promotion.
- Clean announcement his partnership with Alex the parrot for its Ownchain incentive testing program.
- Paytaca released Paytaca Talks Episode #15 which covers the live discussion and presentation during the launch of Paytaca’s P2P exchange and marketplace.
- YGG Esports announcement he will have a live stream discussing ParallelTCG Season 5 on July 5th.
Educational corner 🎓
The airdrop season is not over yet: Look at this updated list airdrops to watch in 2024 — with now over 130 confirmed, ongoing, and potential crypto airdrops for the year.
Regulatory monitoring 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Coinbase and Ripple are leverage a recent court ruling in the SEC’s case against Binance, which rejected claims that secondary sales of BNB were securities, to argue for clearer regulatory guidance on crypto.
- Hong Kong Financial Secretary Christopher Hui noted that regulators will review cryptocurrency regulations in response to market developments.
- South Korean Cryptocurrency exchanges are address concerns on possible mass delistings by launching a comprehensive six-month review of 1,333 cryptocurrencies, mandated by new investor protection laws that went into effect on July 19.
- Monetary Authority of Singapore (MAS) raised the risk level for cryptocurrency exchange platforms from medium-low to medium-high under updated counter-terrorism financing (CFT) laws.
Community Spotlight 🔦
Meet Paolo Dioquino: He is a notable thought leader within the Philippine web3 community.
- He is part of Pendle Funding.
- Dioquino is also the co-founder of two communities, ETH63 and DeFi Philippines.
- In fact, he is the spokesperson for tonight’s episode Continuing the beginner series with a focus on “DeFi” and the latest developments in this field.
- Discover his web3 journey here.
More news on Web3 and AI 💡
Discover the latest innovations in web3 and AI.
- OpenLedgera blockchain company focused on permissionless, data-centric infrastructure for AI development, raised $8 million in seed funding round.
- Sensitivean open-source AI development platform co-founded by Polygon’s Sandeep Nailwal, raised $85 million in a seed funding 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 Games Section 🎮
The future of web3 is gaming, and here’s the latest news.
- HashKey Group spear a community airdrop via a Telegram game to distribute 10 million HSK tokens ahead of its planned Q3 listing.
- OKX spear “OKX GameSphere”, a platform dedicated to Web3 crypto game developers, offering a range of solutions including Wallet as a Service (WaaS), APIs and game promotion tools to accelerate game launches and improve player engagement.
- Pixels East exploring expand its franchise with additional games within its universe and a potential integration on Telegram to attract more players.
Event Announcements 📅
Do not miss:Upcoming events, webinars and meetups in the crypto space!
Events to come:
Outstanding 🌟
Major updates and announcements from the crypto and blockchain world:
- Telegram mini-app Developers can now exchange Stars, a virtual points system introduced in June, for Toncoin (TON) or discounted ads on Telegram.
- Kraken East considering is partnering with energy providers to use small modular nuclear reactors (SMRs) to power its data centers in North America and Europe.
- Worldcoin builder Tools for Humanity hiring four former executives from Google, X (formerly Twitter) and Apple to strengthen privacy, security and identity management.
Stay connected:
We’d love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: £12.1bn liquidated as BTC and ETH prices crash | Key points | 04 July 2024