GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Bitcoin price reaches new all-time high as U.S. elections are underway.

Plus the latest crypto news stories in the last 24 hours.

Market Analysis and Updates 📈

Here are the crypto highlights of the day:

Crypto Price Update

Bitcoin (BTC): $74,563.31, up 8.7% over the last 24 hours.
Ethereum (ETH): $2,590.26, up 6.6% over the last 24 hours.
Solana (SOL): $185.15, up 15.3% vs the previous day.

Trending Coins Update

Peanut the Squirrel: $0.1098, up 203% vs the previous day. (More about this here.)
MOAI: $0.2570, up 47.1% over the last 24 hours.
MAGA: $3.73, up 18.2% vs the previous day.

For the daily price update, check out our post on Facebook.

Feature News: Bitcoin Peaks at $75,000 Amid US Election Fever

Photo for the Article - Bitcoin Hits New All-Time Amid US Elections | Key Points | Nov. 06, 2024

Bitcoin has surged to a record-breaking $75,060, surpassing its previous peak from March.

This comes amid mounting interest from institutional investors and heightened activity around the U.S. presidential election.

The numbers:

Bitcoin price jumped nearly 9% vs the last 24 hours.
Bitcoin’s value has doubled over the past 12 months.
The previous peak was $73,780 in March as per Coingecko

What’s happening: There’s no question: with former President Donald Trump leading Vice President Kamala Harris in electoral college votes (198-99), investor optimism surrounding a potential pro-crypto administration has intensified.

Big pictures:

“Trump trade” effect: Market analysts are noting a “Trump trade” rally in crypto and equities, with many attributing this to Trump’s pro-crypto stance.
Prediction markets: Polymarket, a crypto-powered prediction platform, reported over $2 billion in betting volume on the election outcome, with a 97% probability for a Trump victory at the time of this writing.

What’s Next: Analysts suggest the election outcome could further drive volatility in crypto markets especially if Trump maintains the lead.

(Sources: Decrypt and Financial Times)

Philippine Crypto News 🇵🇭

YGG Play Summit Anichess Online Qualifiers 2 Registration is now open.
YGG shared the one-week event schedule of the YGG Play Summit.
Coins.ph announced that it is now part of the Circle Alliance.

Noteworthy 🌟

Key updates and announcements from around the crypto and blockchain world:

Andreessen Horowitz (a16z) committed $23 million to Fairshake PACs for the 2026 midterms to promote pro-crypto legislation.
The State of Michigan Retirement System disclosed over $10 million in holdings of Grayscale’s spot Ethereum ETF.
OpenSea CEO Devin Finzer announced that a new platform, built “from the ground up,” will launch next month.

Educational Corner 🎓

A break from tap tap games, and back to trading; learn how to secure crypto earnings with bonds: A Guide for Investors.

Regulation Watch 📜

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

Victory Securities received SFC approval to become the first licensed broker in Hong Kong to launch cash-settled virtual asset structured products for professional investors by year-end.
Pakistan is proposing amendments to the SBP Act to legalize cryptocurrency.
Taiwan’s Financial Supervisory Commission (FSC) will implement stricter regulations for crypto exchanges starting January 2025.

Community Spotlight 🔦

Meet Gilbert Lazaro: He is a known content creator on trading and cryptocurrencies.

He is widely known as Tito Vlogs, the name of his Youtube channel.
Lazaro has over 15 years in trading, covering traditional stock markets and cryptocurrencies.
He is the Founder of 8Chain.
In 2022, he participated in the crypto debate “Bull or Bear.”
Recently, the first-ever BitBulaga IRL event happened and Lazaro is one of the speakers.

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

Citi and Fidelity unveiled a proof-of-concept for an on-chain money market fund at the Singapore FinTech Festival.
Curve Finance and TON are partnering to advance DeFi on the TON blockchain in 2025.
BitGPT launched its AI-driven Web3 platform at Binance Blockchain Week in Dubai.

Web3 Gaming Section 🎮

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

Tomarket has reinstated airdrop eligibility for many players initially banned for alleged cheating.
ZKcandy, a Layer-2 gaming platform, made a strategic investment in Kroma Network to support its expansion in the web3 gaming sector.
Crystalfall, a steampunk RPG from Crypto Rogue Games, will have its open beta on December 13th on Epic Game Store.