GM. Welcome back to BitPinas Key Points: crypto news in concise formats for easy reading. In today’s daily recap: The long-term Bitcoin hodlers are on the move.

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): $92,677.76, down 2.3% over the last 24 hours.
Ethereum (ETH): $3,340.28, down 3.2% over the last 24 hours.
Solana (SOL): $231.82, down 2.5% vs the previous day.

Trending Coins Update

TORN: $23.14, up 561.9% vs the previous day.
MemeFi: $0.0111, up 82.3% over the last 24 hours.
Meow: $0.0006, down 43.2% vs the previous day.

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

Long-term Bitcoin holders offload ₱4.2 trillion in BTC

The numbers:

Bitcoin hit a new all-time high, stopping just short of $100,000 (₱5.6 million).
728,000 BTC sold by long-term holders in the past 30 days, according to CryptoQuant.
Valued at approximately ₱4.2 trillion, this marks the largest sell-off since April.

Photo for the Article - Long-Term Bitcoin Holders Offload ₱4.2 Trillion | Key Points | Nov. 27, 2024

The October trend of whale accumulation, which saw nearly 250,000 BTC added, has now reversed, The Block has reported.

The steep sell-off by long-term holders could signal profit-taking at near-record highs or uncertainty about the sustainability of the rally.

The sell-off comes amidst a major crypto market rally, spurred by US President-elect Donald Trump’s pro-crypto stance during his campaign. The incoming U.S. administration is expected to make more favorable crypto regulations and eventual clarity towards crypto policies.

What’s happening: Bitcoin’s market dominance, a measure of its share of the total cryptocurrency market cap, has fallen to 51%, down from over 60%.

This suggests that investors are diversifying into other cryptocurrencies or reallocating funds.

What’s next: As per a previous report, the downturn in prices appear to be a market correction, a natural phenomenon linked to leverage overheating. Many analysts, such as the ones in this Coindesk report still predicts a potential breakout to $120,000–$130,000 if BTC surpasses the $100,000 resistance.

Philippine Crypto News 🇵🇭

PDAX reminded that its offer of free $BTC for a user’s first crypto trade is now on its last week.
Paytaca is set to deploy two new Bitcoin Cash vending machines in Tacloban City.
BitPinas article: PDAX powers PYUSD to Peso conversions in PayPal and Cebuana Lhuillier partnership for remittances.

Noteworthy 🌟

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

AI predicts that Minotaurus (MTAUR), a presale token with gaming utility and investor incentives, could surpass established cryptos like DOGE and TON.
Pump.fun, a Solana-based memecoin launchpad, removed its livestream feature following backlash over reports of creators performing disturbing stunts.
Tron founder Justin Sun announced a $30 million investment in World Liberty Financial (WLFI) tokens, the crypto project supported by President-elect Trump.

Educational Corner 🎓

It’s not just Solana or Sui, check out this list of memecoins on Bitcoin Runes.
- Memecoins are cryptocurrencies created based on humorous or lighthearted memes.

Regulation Watch 📜

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

Prometheum’s SEC-backed crypto model faces uncertainty under pro-crypto Trump, but co-CEO Aaron Kaplan aims to pivot to tokenized traditional assets.
Under Trump’s administration, the US is poised to challenge the EU’s MiCA with a pro-crypto regulatory approach.
The National Bank of Rwanda plans to regulate cryptocurrencies by early 2025.

Community Spotlight 🔦

Meet Atty. Robert De Guzman: (LinkedIn) He plays a crucial role in overseeing the legal and regulatory aspects of Coins.ph.

De Guzman is the General Counsel and Head of Legal and Compliance at Coins.ph.
He once appeared in a BitPinas webcast about the Clarification on the implementation of the Philippine Travel Rule (PHTR) for Virtual Asset Service Providers (VASPs).

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

Phantom wallet expanded its multi-chain capabilities by adding support for Coinbase’s Base blockchain.
Solana’s decentralized exchanges achieved a record-breaking $109 billion in monthly trading volume in November 2024.
Truth Terminal joins AI models Fi and S.A.N in “Loria,” a platform for storytelling and AI alignment.

Web3 Gaming Section 🎮

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

FIFA and Mythical Games are launching FIFA Rivals, a blockchain-based mobile soccer game blending arcade action and team management.
Immutable and YGG partnered to revolutionize web3 gaming, launching a $1M prize pool for players completing quests in games.
Sky Mavis laid off 21% of its staff to focus on hypergrowth, with plans to launch a new Axie Infinity game in Q1 2025.