Cryptocurrency Prices Fall Just Like Tech Stocks Do | Key Points | June 21, 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): $64,946, down 0.4% in the last 24 hours.
• Ethereum (ETH): $3,524, down 1.5% over the past 24 hours.
• Solana (SOL): $134.11, down 1.9% from the previous day.

Trending coins update

• Reach: $9.97, up 578% from the previous day.
• LimeWire: $0.4274, up 42% in the last 24 hours.
• LevelZero: $3.35, down 24% from the previous day.

For daily price updates, see our post on Facebook.

📺 BitPinas Webcast: Phishing, scams and exploits

Yesterday at the BitPinas webcast, we discussed Phishing scams and exploits targeting cryptocurrency users.

Our hostIcesteam Jimenez of IMPACT – Innovative Movement of the Philippine Association of Cryptocurrency Traders, shared tips on how to safeguard your crypto assets from malicious threats.

This is Webcast no. 4 in our series of beginner’s guides to cryptocurrencies.

News in Depth: Cryptocurrency Prices Plunge Just Like Tech Stocks Amid Microstrategy News

Cryptocurrency markets briefly rallied after MicroStrategy purchased 11,931 BTC, but later collapsed amid a sell-off in tech stocks.

Because matter: MicroStrategy’s large purchase of Bitcoin demonstrates continued confidence in cryptocurrencies from large corporations. However, the market decline highlights how cryptocurrencies are influenced by movements in technology stocks.

Key numbers:

• MicroStrategy Purchase: $786 Million at $65,883 Per BTC
• Total Bitcoin holding: 226,331 BTC worth $14.6 billion
• Memecoins (Dogecoin, Shiba Inu, Pepe) fell 1%-4%
• Trader Liquidations: 43,599 traders, total $111 million, largest single order, $8.09 million second the rebel.

What to watch: How altcoins perform as Bitcoin’s market share declines and how current trends in tech stocks will impact cryptocurrency markets. This situation shows how closely the cryptocurrency markets are linked to traditional finance, especially technology stocks.

News Spotlight: How a Pinoy Investor Lost ₱40 Million in Crypto Sweeper Bot Exploit on Telegram

A Philippine cryptocurrency investor lost over ₱46.4 million after hackers exploited a vulnerability in Telegram to access its wallets.

What’s the meaning? This incident highlights the significant risks associated with the security of digital assets and the need for robust protection measures in the crypto space.

By the numbers: Fernando lost five MetaMask wallets, two Ronin wallets, and two Phantom wallets, totaling $800,000 (₱46.4 million) in various tokens and NFTs.

How did it happen: Hackers exploited a vulnerability in Telegram, allowing them to access media files and extract sensitive information to compromise Fernando’s wallets.

What’s next: Investors are advised to adopt rigorous safety practicesincluding using hardware wallets and enabling two-factor authentication safeguard their assets.

Local cryptocurrency news 🇵🇭

• PDAX reveals more details on limit trading, published on BitPinas.

• Coins.ph starts to Learn and earn activities for members of its community from June 20 to 24, 2024 where they can earn $SOL.
• Members of Superteam Philippines and Coins.phassist Solana APAC Summit in Malaysia.
• The SEC welcomes the appointment of the lawyer Rogelio V. Quevedo commissioner.

Educational Corner 🎓

Watch Regulations 📜

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

• NAB Venturesthe strategic investments arm of National Australia Bank, invested in Zodia Custody to strengthen its crypto strategy, focusing on secure custody services for institutional investors rather than developing its own stablecoin.
• Indian Financial Intelligence Unit has tidy Binance will pay a fine of $2.25 million for violating the Prevention of Money Laundering Act by operating in India without complying with anti-money laundering regulations.

Spotlight on the community 🔦

Meet the Blockchain Council of the Philippines: It is a body dedicated to promoting the adoption and standards of blockchain technology in the country through collaboration between industry, government and academia stakeholders.

• It was held recently its annual general meeting of members where advisory board members and future commitments are announced.
• Watch other BCP articles Here.

More Web3 and AI news 💡

Discover the latest news in web3 innovation and artificial intelligence.

• Crypto hedge fund Pantera Capital plans invest over $200 million in AI-adjacent crypto projects.
• Bondexa web3 competitor to LinkedIn, has lifted up over $10 million; plans to improve its platform through gamification and crypto rewards for users.
• CertiK has identified and rectified a bug in Kraken’s deposit system, which facilitates the return of nearly $3 million in funds withdrawn to the exchange. There is, however, more to this story.
• Black the founders are creation of chatbots such as Latimer.AI and ChatBlackGPT to diversify AI perspectives, with the aim of countering Eurocentric biases.

Web3 Gaming Section 🎮

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

• Injective collaborated with DEGA to enter the web3 gaming market, with the aim of integrating DEGA’s platform with Injective’s blockchain for GameFi development and community-driven initiatives.
• Ready day collaborated with Open World Now (OWN) to integrate web3 gaming into their Valencia-based phygital festival, offering exclusive tournaments, the OWN Quest loyalty platform and educational panels on web3 adoption.

Event announcements 📅

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

Noteworthy 🌟

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

• Bernstein anticipates increased institutional adoption of Bitcoin and crypto stocks, with spot Bitcoin ETFs expected to be approved by major financial institutions in late 2024, and predicts that Bitcoin could reach $200,000 by 2025, $500,000 by 2029, and 1 million dollars by 2033.

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This article is published on BitPinas: Cryptocurrency Prices Fall Just Like Tech Stocks Do | Key Points | June 21, 2024

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