Is Crypto Recovering? | Telegram Launches Mini App Store | Key Points | Aug. 6, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s news recap: Crypto recovery and Telegram mini app store launch.
Here are the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $56,108.38, up 3.6% over the last 24 hours.
- Ethereum (ETH): $2,547.45 up 10.4% over the last 24 hours.
- Solana (SOL): $139.39, up 6.7% vs the previous day.
Trending Coins Update
- Gifto: $0.0499, up 67.3% vs the previous day.
- Storj: $0.4123, up 46.5% over the last 24 hours.
- Toncoin: $5.45, down 4.0% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: Is Crypto Recovering?
Bitcoin rebounded to $56,000 after a steep 30% decline over the past week, reminiscent of the March 2020 crash.
What’s the significance: The sharp decline and subsequent rebound highlight the volatility of the cryptocurrency market, affecting investor sentiment and market stability.
By the numbers:
- Bitcoin price: Dropped from $70,000 to just above $49,000, now at $56,000.
- CoinDesk 20 Index: Down 13% over the past 24 hours.
- Ether (ETH): Down 13% over the past 24 hours, but up 17% in the previous hour.
- Nasdaq: Recovered to 3.6% lower, from an earlier 6% drop.
Between the lines: Analysts suggest this downturn is a typical market correction rather than a long-term trend reversal. Some see it as a buying opportunity amid panic selling.
What to watch: Potential further declines if economic conditions worsen, with BTC possibly dipping to $42,000.
Feature News: Telegram Launches In-App Browser and Mini App Store
Telegram has introduced an in-app browser and a mini-app store, supporting decentralized webpages and enhancing user experience.
What’s the significance? This update makes web3 technology accessible to nearly one billion users, integrating decentralized websites into everyday browsing.
- It also aligns with the growing trend of integrating web3 into mainstream platforms.
The numbers:
- Telegram has 900 million users.
- TON is a top 10 cryptocurrency by market capitalization.
How this will work: Users can switch between websites and messaging within the app, and send Stars as payments in mini-apps.
The updates:
- Telegram browser
- Mini App Store
- Sharing from Mini Apps to Stories
- Flash when recording Video Messages
- Weather Widget in Stories
- Story Covers
- Browser and Mini App Tabs on Mac OS
What’s next: Community expects airdrops from top games in the Telegram ecosystem, like Catizen and Hamster Kombat.
Philippine Crypto News 🇵🇭
- Coins.ph welcomes actress Yassi Pressman as brand ambassador.
- BitPinas attended the press conference and will be publishing an article within the day.
- Crypto thought leader Luis Buenaventura shares insights about the government collaboration with Venom blockchain.
Educational Corner 🎓
With the market crashing, I want to highlight a common strategy used by people – Peso Cost Averaging, a strategy where traders buy specific crypto at a fixed amount at regular intervals. This article is written in collaboration with PDAX.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- New PH SEC advisories: TRADEEXPERT and Modesto Cardano Market Cap Tr3ding Services.
- Australian police are probing 2,000 exploited crypto wallets.
- A new bill in the U.S. wants to give more power to the Secret Service to pursue crypto crime.
Community Spotlight 🔦
Meet Nelson Lumbres, the lead of ICP in the Philippines.
- ICP has an ongoing iThink Hackathon.
- Check out projects that won in the previous version of the contest.
- Finally, here’s how to apply for ICP grants.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Vitalik Buterin: Ethereum is ready to support tens of millions of on-chain users.
- Solana DeFi trading volume tops Ethereum.
- Prediction markets are booming.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- BitPinas article: Pixels Guild Crop Wars concluded.
- Shardbound launches new event.
- ICYMI: Why Hamster Kombat and Catizen delayed airdrop.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- Hedera Davao Meetup: August 10, 2024
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Aave rakes in $6M revenue as crypto market plunges.
- Morgan Stanley will offer Bitcoin ETFs to wealthy clients.
- Telegram launches browser and mini app store.
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This article is published on BitPinas: Is Crypto Recovering? | Telegram Launches Mini App Store | Key Points | Aug. 6, 2024
