Latest Crypto News and Market Updates
Crypto markets experienced a rollercoaster ride in the past 24 hours, with Bitcoin (BTC) dropping to $64,946 and Ethereum (ETH) falling to $3,524. Solana (SOL) also saw a decline to $134.11. However, some coins like Enreach and Limewire saw significant gains.
In a surprising turn of events, MicroStrategy’s purchase of 11,931 BTC for $786 million initially sparked a rally in the crypto market. However, a subsequent selloff in tech stocks led to a drop in crypto prices. This highlights the interconnectedness between the crypto market and traditional finance.
On a more concerning note, a Filipino investor lost over ₱46.4 million in a crypto sweeper bot exploit on Telegram. This incident underscores the importance of robust security measures in the crypto space.
In local news, PDAX revealed more details about limit trading, while Coins.ph launched a Learn & Earn activity for its community members. The SEC also welcomed the appointment of Atty. Rogelio V. Quevedo as commissioner.
Regulatory updates include NAB Ventures’ investment in Zodia Custody and India’s Financial Intelligence Unit imposing a fine on Binance for violating anti-money laundering regulations.
In the community spotlight, the Blockchain Council of the Philippines is dedicated to advancing blockchain technology adoption in the country.
Overall, the crypto market remains volatile, with investors advised to stay informed and adopt stringent security practices to safeguard their assets.