Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.

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GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Bitcoin liquidations continue.

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): $88,998, up 10% over the last 24 hours.
Ethereum (ETH): $3,314, up 3.3% over the last 24 hours.
Solana (SOL): $220.10, up 4.5% vs the previous day.

Trending Coins Update

Happy Cat: $0.0282, up 335% vs the previous day.
Peanut the Squirrel: $0.4337, up 248% over the last 24 hours.
Swell: $0.3618, up 22% vs the previous day.

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

ON THE GROUND: DEVCON in Thailand

Photo for the Article - May Nagshoshort Pa Rin? Bitcoin Surges to $89K | Key Points | Nov. 12, 2024

Devcon Southeast Asia, the Ethereum developer conference is starting today in Bangkok, Thailand. Please visit our social media channels (Twitter, Facebook) for updates.

Feature News: May Nagshoshort Pa Rin? Bitcoin Surges to $89K

Over $659 Million in Crypto Liquidations as Bitcoin Soars to $89,000.

What happened: Bitcoin’s surge to $89,000 in just a week has triggered massive liquidations across the market, with over $659 million wiped out in the past 24 hours.

The sudden price rally has caught traders off-guard, especially those holding short positions.

By the Numbers

Total liquidations: $659 million over 174,000 traders liquidated in the past 24 hours.
Biggest losses: The largest single liquidation occurred on Binance’s BTCUSDT pair, totaling $15.7 million.

Top Tokens Affected:

Bitcoin: $251.03 million liquidated
Ethereum: $87.77 million liquidated
DOGE: $58.90 million liquidated

Longs vs Shorts:

In the last hour alone, $24.07 million in liquidations were recorded, with shorts hit hardest at $15.29 million.
Over 12 hours, shorts faced $304.33 million in liquidations, while longs lost $169.87 million.

What’s next: Liquidations continue to climb despite a clear view that the trend of the market recently is to go up.

Still: Analysts warn that continued high volatility could signal further liquidations in the coming days.

Philippine Crypto News 🇵🇭

Paytaca shared that it has onboarded 12 partner merchants in various places including Taiwan and Australia.
Community Reacts: Maya faces backlash after demanding users return crypto profits following a system error that dropped USDC to ₱1.
Bitpinas article: Coins.ph collaborated with Fasset to launch “Pinoy Send,” enabling Filipinos in the UAE to instantly send up to ₱50,000 home.

Noteworthy 🌟

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

A cold wallet linked to Mt. Gox moved over $2 billion worth of bitcoin to a new address, potentially signaling upcoming creditor repayments.
a16z crypto expects a friendlier regulatory environment under Trump, allowing founders to confidently use tokens and explore blockchain products.
Bitcoin surged past $80,000, driven by Trump’s pro-crypto stance and a supportive Congress.

Educational Corner 🎓

As crypto further surges in this year’s final quarter, check out these crypto, blockchain, and AI events to attend in November 2024, both in the Philippines and internationally.

Regulation Watch 📜

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

SEC Commissioner Mark Uyeda supports President-elect Trump’s plan to end the aggressive crypto crackdown.
Standard Chartered predicts that a Republican sweep could drive crypto market growth to $10 trillion by 2026.
Charles Hoskinson is opening a DC policy office to push for crypto-friendly regulations.

Community Spotlight 🔦

Meet Mark Kevin Nunez (LinkedIn): He plays a key role in fostering partnerships and driving the adoption of cryptocurrency within the GCash ecosystem.

He is the Head of Partnerships and Product for Crypto and Web3 in GCash’s cryp[to platform GCrypto.
He has been active in promoting the platform and speaking with the community.
In 2023, he played an active role in introducing GCrypto.

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

Stacks founder Muneeb Ali targets early December for the launch of sBTC, a decentralized two-way bitcoin peg for DeFi.
The Ethereum Name Service (ENS) is launching its own layer-2 blockchain, “Namechain,” set to go live by the end of 2025.
ZDEX Coin is gaining attention in the DeFi market, positioning itself to rival established platforms like Uniswap.

Web3 Gaming Section 🎮

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

The updated Wild Forest whitepaper introduces new features like Expeditions, an updated Unit Mint system, and expanded $WF token utility.
Delphinus Lab and Blade Games partnered for a joint airdrop, offering 25,000 Delphinus Lab points and 225,000 xBlade to the community.
Immutable (IMX) launched Pre-Approved Transactions, enabling seamless in-game blockchain approvals for a smoother Web3 gaming experience.