Bitcoin Dominance Hits 3-Year High | Key Points | Oct. 04, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: What happened when Bitcoin dominance increase?
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): $61,583.76, up 2.2% over the last 24 hours.
- Ethereum (ETH): $2,387.19, up 2.1% over the last 24 hours.
- Solana (SOL): $140.56, up 2.8% vs the previous day.
Trending Coins Update
- Observer: $0.0040, up 196.3% vs the previous day.
- Cortensor: $0.0043, up 133.6% over the last 24 hours.
- Sui: $1.75, down 5.5% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle
Bitcoin’s market dominance neared a three-year high, reaching over 58%, as altcoins struggled. The cryptocurrency held above $60,000 but faced resistance at $61,500 before settling around $60,700.
- Meanwhile, Ethereum’s ETH fell to one of its lowest levels against Bitcoin since mid-September, Coindesk reported.
Altcoins:
- Aptos’ APT token surged 7%, after Franklin Templeton’s expansion of its tokenized money market fund to the Aptos blockchain.
- SUI pulled back after an over 100% price rally last month.
What’s affecting the market: The U.S. dollar strengthened to its highest level since mid-August, driven by strong economic data and geopolitical tensions, particularly in the Middle East.
What happens after Bitcoin dominance peak: Historically, altcoins sometimes experience a “catch-up” phase where they rally as capital flows back into them.
What to watch next: Traders are closely watching for further developments, with the upcoming U.S. jobs report and potential Federal Reserve liquidity measures.
Philippine Crypto News 🇵🇭
- BitPinas article: PSE to soon allow foreign stock trading
- YGG reminded community members to be wary of scams and how to avoid hacks.
- Coins.ph teased that it will soon list the token $TURBO.
- CryptoArt PH organized the Paghilom Art Exhibit which will be featured during the Luzon Art Fair.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Three senior executives and a key developer left OpenSea in the past three months amid SEC scrutiny, declining NFT trading volumes, and increased competition.
- Thousands of Indians have been lured by fake job offers to Southeast Asia, where they are trapped in cyber slavery and coerced into crypto fraud and other online scams.
- The DLT Science Foundation (DSF) launched the MiCA Crypto Alliance to help digital asset companies streamline compliance with the EU’s MiCA regulation.
Educational Corner 🎓
- Crypto 101: An analyst on a Chinese social networking site claims that “platform tokens,” the native tokens of cryptocurrency exchanges, are likely to “skyrocket” due to their design for paying app fees.
- What is the Coinex CET token?
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- The SEC is appealing a court ruling in the Ripple case, arguing it conflicts with Supreme Court precedent.
- SEC Enforcement Director Gurbir Grewal will depart on October 11, 2024, with his deputy Sanjay Wadhwa stepping in as acting director.
- Taiwan’s FSC will require virtual asset service providers to complete AML registration by September 2025 or face jail time and fines.
Community Spotlight 🔦
Meet Joel Bautista: He is Information Technology Officer III bullish about blockchain technology.
- Bautista is the project leader for Pisay-DigiCert; check out his interview about the project here.
- He is also the Chief of the Knowledge Innovation Division at the Philippine Science High School (PSHS).
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Sotheby’s is hosting a three-day auction for seven Autoglyph NFTs by Daniel Maegaard.
- Amnis Finance raised $2 million in a seed round led by OKX Ventures and Borderless Capital, aiming to drive innovation and expand DeFi solutions within the ecosystem.
- DeFi’s TVL rose 10% to $133 billion in September, primarily fueled by decentralized exchanges and liquid staking.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Fight League will launch its first Fighter NFTs for minting on October 10th, offering 10,000 unique characters essential for gameplay in the upcoming web3 title, Fight League: Survivor.
- Lamborghini partnered with Motorverse to launch the web3 racing game Fast ForWorld on November 7.
- Shardbound will launch into open beta on Steam and the Epic Games Store on October 9, featuring NFT trading and a mix of deck-building, turn-based combat, and role-playing elements.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- Paghilom Exhibit at Luzon Art Fair: October 3-6, 2024
- Co-Hack: Connect, Code, Create – Bicol: October 5-6, 2024
- Blockchain Campus Conference 2024: October 10, 2024
- Future Forward: Tech Career Fest: October 10, 2024
- Future Proof Tech Summit 2024: October 10-11, 2024
- The Bobong Event: October 11, 2024
- Cardano Constitutional Workshop: October 12, 2024
- Future Frontiers: AI Ideathon by DashoContent: October 12, 2024
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This article is published on BitPinas: Bitcoin Dominance Hits 3-Year High | Key Points | Oct. 04, 2024
