Germany Continues Bitcoin Sell-Off | Key Points | July 11, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s recap: Germany. That’s it.
Here are 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): $57,414.14, down 0.6% over the last 24 hours.
- Ethereum (ETH): $3,089.90, up 1.3% over the last 24 hours.
- Solana (SOL): $140.72, up 0.3% vs the previous day.
Just in: Donald Trump will be a key speaker at this year’s Bitcoin2024, the largest Bitcoin conference:
Trending Coins Update
- Stader: $0.7086, up 69.7% vs the previous day.
- Spike: $0.0385, up 18.5% over the last 24 hours.
- Jeo Boden: $0.0403, down 31.4% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: Germany Continues Bitcoin Sell-off
Update on June 12. Germany has less than 10K bitcoins left:
The German government continues to sell its Bitcoin holdings.
- On July 9, it sold 3,100 BTC worth $178 million and withdrew 1,700 BTC worth $91.78 million from Bitstamp.
What’s the significance: Despite some lawmakers criticizing the sale, arguing that holding Bitcoin could lead to future long-term price appreciation, Germany appears intent on liquidating all its Bitcoin holdings.
The numbers:
- Government main address: 26,000 BTC (~$1.5 billion)
- Address for selling: 4,800 BTC (~$276.61 million)
- Recent sales: 2,500 BTC to B2C2 Group, 400 BTC to Kraken, 200 BTC to unknown wallet
This is the latest data before this article is published:
However: Despite these sell-offs, BTC has shown resilience, with its price rebounding from recent lows, indicating ongoing confidence among buyers.
What to watch: Germany’s selling is just one of the many factors that are contributing to the current price of Bitcoin. Be sure to also watch any pronouncements from the Federal Reserve, the U.S. elections, and the ETF, among others.
Philippine Crypto News 🇵🇭
- YGG Guild Advancement Program season 6 starts.
- YGG’s Manila Roadtrip event is also set to happen this July 14th.
- Community Call Baguio co-presented by crypto-focused entities Bitshares Lab, Superteam Philippines, Klaytn, Kaia, Crypto Warriors, and CoinEx.
- Attendees include professionals and students from the University of Cordillera, Saint Louis University, and Baguio College of Technology.
Educational Corner 🎓
We continue our publishing of tap-to-earn articles. Check out this new piece about Tomarket AI.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Crypto exchange BitMEX pleads guilty to violating the U.S. Bank Secrecy Act from 2015 to 2020.
- Crypto payment service Payeer is fined $10 million after allowing transfers to sanctioned banks.
- Nigeria is urging its securities regulator to tackle crypto regulation challenges.
Community Spotlight 🔦
Meet Patrick Lao: He is the Head of Prime and Metaverse at PDAX:
- Patrick was interviewed by BitPinas early this year to discuss the crypto narratives of 2024.
- In another interview, he discussed about Bitcoin ETFs impact in the market.
- Check out Patrick Lao on LinkedIn.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Liquid staking on Solana soars to all-time high.
- Curve Finance users are locking record amounts of CRV tokens in DEX.
- Check out Vitalik Buterin’s keynote at ETHCC here.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- How Telegram built a web3 gaming juggernaut by Coindesk.
- It’s also GameFi Week at Coindesk, so lots of web3 gaming articles there this week.
- Telegram game Notcoin wants to help startups build on TON.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- Visual Odyssey at Gravity Art Space Manila: July 12, 2024
- PDAX at Dela Salle University’s National Finance Congress 2024: July 13, 2024
- YGG Pilipinas Roadtrip Metro Manila: July 14, 2024
- GitHub Field Day: July 20, 2024
- BitBulaga “Portfolio Construction in a Bull or Bear Market”: July 27, 2024
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Donald Trump doubles down on pro-crypto pivot.
- How tokenized real world assets are outperforming crypto.
- Crypto funds see inflows for the first time in a month.
- Does the ETH ETF fees matter to investors?
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This article is published on BitPinas: Germany Continues Bitcoin Sell-Off | Key Points | July 11, 2024
