Bitcoin Price Drops to $65K, PH Ranks 4th in AI, ChatGPT Searches | Key Points | June 15, 2024 | BitPinas

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. Let’s check 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): $66,033, down 1.2% over the last 24 hours.
• Ethereum (ETH): $3,474, down 0.4% over the last 24 hours.
• Solana (SOL): $143, down 3.2% vs the previous day.

Trending Coins Update

• Habibi: $0.0349, up 43% vs the previous day.
• Undeads Games: $0.7123, up 37% over the last 24 hours.
• Maga Hat: $0.0002, down 11% vs the previous day.

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

Feature News: Bitcoin Plunges to $65K, Altcoins Suffer Losses

Bitcoin (BTC) dropped to $65,100, its lowest in four weeks, falling over 2% in an hour and down 7.5% over the past seven days.

The numbers: The broader crypto market saw significant losses:

• $180 million in leveraged derivatives trading positions were liquidated in the past 24 hours.
• This contributed to a total of $870 million in liquidations for the week.

Still, some analysts had anticipated a BTC breakout due to softer U.S. inflation data, but market conditions and selling pressures hindered any significant rallies.

What’s next: Investors are watching for further announcements from the Federal Reserve and potential political developments in Europe, which could influence market movements.

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Feature News: Philippines Ranks Fourth in Global AI Searches

The Philippines is the fourth “most obsessed” country with AI tools in the first half of 2024, according to a study by Linkee.

What’s the significance? This indicates a growing adoption of AI technology in the Philippines, which could soon transform job requirements and normalize the use of AI tools in daily tasks.

The data: The Linkee study, based on Google Trends, shows a global trend towards increased interest in AI tools, with the Philippines ranking high alongside Singapore, Canada, and the UAE.

By the numbers:

• Total AI tool searches: 271 million
• ChatGPT searches: 261 million
• Character AI searches: 8.7 million
• Google Bard searches: 688,000
• Midjourney searches: 441,000
• Adobe AI searches: 120,000

Between the lines: With 117 million Filipinos, the search data suggests that each individual has searched for AI tools about twice this year.

Zoom Out: In a separate study conducted by Microsoft and LinkedIn, 86% of Filipino knowledge workers use AI tools regularly. This means that they use AI tools to save about 30 minutes of their daily work.

Key Quote:

“The Philippines comes in fourth on the list of the countries most obsessed with AI. The country adapts the new technologies, particularly in “ChatGPT,” with searches that surpass its population more than twice.”Linkee

What’s next: As AI adoption grows, Filipinos can expect more job opportunities requiring AI skills and increased integration of AI tools in everyday activities.

Local Crypto News 🇵🇭

• Coins.ph initiates Meme Coin Trading Tournament.

• Coins.ph listed a new token, io.net ($IO). Coins now has 90+ cryptocurrencies.

• The BLOKC wraps up Blockchain Campus Conference.

• Bayanichain made it to the 2024 Blockchain Critical Trend Report.

• ISLA Camp and Miranda Mining group organize 13Desk Meetup.

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Educational Corner 🎓

With Telegram games on the rise, BitPinas compiled a List for you to check out. 

Check out the other 65 low-cost airdrops to consider joining.

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Regulation Watch 📜

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

• Australia’s Treasury will include stablecoin regulations in its upcoming digital assets legislation, with ASIC warning of increased enforcement against unlicensed entities.
• Swiss financial regulator FINMA has shut down crypto-linked FlowBank for significantly breaching minimum capital requirements, initiating bankruptcy proceedings
• U.S SEC Chair Gary Gensler has announced that spot Ethereum ETFs are expected to launch this summer, with necessary documents mostly approved, though final registration steps remain.
• U.S. Senator Dick Durbin questioned whether the Commodity Futures Trading Commission (CFTC) is equipped to regulate the fast-paced crypto market following the passage of the Financial Innovation and Technology for the 21st Century Act (FIT21).

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Community Spotlight 🔦

Meet John James C. Genove: Also known as The Resistance Trader, he is a long-time cryptocurrency trader and a frequent guest on the BitPinas Webcast.

• In May, he launched a handbook simplifying the complex world of blockchain called “The Blockchain Navigator’s Handbook.”
• Check out his recent explanation of how cryptocurrency traders can combine technical and fundamental analysis in their trading strategies.

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More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

• Nuffle Labs, an independent entity spun off by the NEAR Foundation, raised $13 million to develop NEAR’s modular product suite.
• UwU Lend announced a $5 million bounty in ETH for the identification and location of its exploiter.
• BNB Chain partnered with Binance Labs to launch the BNB Incubation Alliance (BIA), a program supporting early-stage Web3 projects with an accelerator, funding, and Launch-as-a-Service (LaaS).
• Immutable launched Devomon, a Web3 anime brand, exclusively on its platform utilizing Polygon’s zkEVM scaling solution with Ethereum. 
• The G7 summit in Italy concluded with a significant focus on China’s industrial practices and its indirect support for Russia, highlighted by discussions on AI led by Pope Francis in his first-ever appearance at the summit.

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Web3 Gaming Section 🎮

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

• Telegram games Tapswap and Yescoin are set to launch tokens on The Open Network (TON).
• Maincard.io launched its Web3 sports fantasy game on the TON blockchain.
• Ethereum-based card game Parallel has debuted on the Epic Games Store.

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Event Announcements 📅

Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!

• YGG Pilipinas Roadtrip (Bacolod): June 22, 2024
• XODE Blockchain Kickoff in Cebu: June 19, 2024
• Axie Infinity in Bicol: June 20, 2024.

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Noteworthy 🌟

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

• Crypto markets have seen $12 billion in net inflows this year, primarily driven by spot bitcoin ETFs, though much of this may have come from existing digital wallets on exchanges, according to JPMorgan.

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This article is published on BitPinas:Bitcoin Price Drops to $65K, PH Ranks 4th in AI, ChatGPT Searches | Key Points | June 15, 2024

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