Category: News, NFT News

Coins.ph Lists PHPC on Ronin | Over $148M Gaming Token Unlocks | Key Points | July 9, 2024

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. Our feature article today – check out the gaming tokens (worth over ₱8.6 billion worth) scheduled to be unlocked this month.

Here are 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): $56,777.28, up 4.2% over the last 24 hours.
  • Ethereum (ETH): $3,040.53, up 7.4% over the last 24 hours.
  • Solana (SOL): $138.59, up 7.4% vs the previous day.
  • Billy: $0.1781, up 46.8% vs the previous day.
  • Chudjak: $0.0203, up 52.8% over the last 24 hours.
  • Polkastarter: $0.3047, down 19.2% vs the previous day.

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


Feature News: Major Crypto Gaming Token Unlocks in July

These token unlocks could impact the value and trading volumes of the involved cryptocurrencies, affecting investors and the broader crypto market.

Decrypt is highlighting the following token unlocks. Also check the BitPinas monthly token unlock article here.

  • Xai Network: Unlocking 198.4 million XAI tokens ($60.76 million) on July 9.
  • Ronin Network: Releasing 404,290 RON tokens ($671,000) daily for 92 days starting July 27.
  • Gala Games: Unlocking 2.14 million GALA ($44,800) daily for a year.
  • Immutable: Unlocking 32.47 million IMX tokens ($38.32 million) on July 12.
  • Pixels: Unlocking 54.38 million PIXEL tokens ($10.19 million) on July 19.
  • ApeCoin: Unlocking 15.6 million APE tokens ($10.89 million) on July 17.
  • Parallel: Unlocking 750,000 PRIME tokens ($5.54 million) at the end of July.

How it works: Tokens are often locked post-launch and gradually released. A cliff unlock releases a bulk of tokens at once, while a linear unlock distributes them gradually.

What’s next: The market’s response to these unlocks and the subsequent trading activity might have a short-term impact on the crypto gaming sector.


Feature News: Coins.ph Lists PHPC on Ronin Blockchain

Coins.ph Lists PHPC on Ronin | Over 8M Gaming Token Unlocks | Key Points | July 9, 2024

A full version of this section can be read here.

Coins.ph has introduced its Philippine Peso (₱) stablecoin PHPC on the Ronin blockchain. PHPC is pegged 1:1 to the Philippine Peso and backed by cash equivalents in local bank accounts, ensuring stable value for users.

What’s the significance: The listing confirms CEO Wei Zhou’s announcement on a previous BitPinas webcast that the company is intending to list PHPC in international platforms.

  • More importantly, this marks the first time that the Philippine Peso (via its stablecoin counterpart) is listed in an international crypto platform.

Applications:

  • Guild managers operating internationally have the option to distribute PHPC to their team members, known as scholars, in the Philippines.
    • These players can then transfer their PHPC to a Coins.ph account, enabling them to withdraw cash or make payments for utilities, mobile credit, and other expenses.
  • Additionally, players may utilize PHPC to purchase goods and services, provided that merchants offer this payment alternative, similar to when, during the height of the Axie phenomenon, local merchants were accepting SLP.

What’s next: Coins.ph said it looks forward to seeing a PHPC and RON trading pair on Katana, a decentralized exchange on the Ronin blockchain.


Philippine Crypto News 🇵🇭

Photo for the Article - Coins.ph Lists PHPC on Ronin | Over $148M Gaming Token Unlocks | Key Points | July 9, 2024
  • YGG announced that Season 6 of its Guild Advancement Program (GAP) will begin on July 10th.
  • Coins.ph listed web3 entertainment company Creta’s token $CRETA.
  • Superteam PH announced its newest member, Prof Toff.

Educational Corner 🎓

Photo for the Article - Coins.ph Lists PHPC on Ronin | Over $148M Gaming Token Unlocks | Key Points | July 9, 2024

Check out this guide on the web3 game Guild of Guardians. It is now available on the App Store and Google Play Store. 

  • The game lets players assemble a team of Guardians to complete dungeons, earn rewards, and enhance their characters.

Regulation Watch 📜

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

  • France‘s general election resulted in a hung parliament, with the left-wing New Popular Front winning the most seats but falling short of a majority, making it difficult to pass new legislation, including crypto regulations.
  • The German government has transferred another 1,000 bitcoins to exchanges, drawing criticism for lacking a comprehensive bitcoin strategy, as the government holds 38,826 bitcoins worth $2.17 billion.
  • A Nigerian central bank official testified that Binance operated illegally without a license in the country, facilitating illicit transactions.
  • Taiwan Mobile, Taiwan’s second-largest telecommunications provider, secured a VASP license from the country’s Financial Supervisory Commission (FSC), allowing it to enter the cryptocurrency market.

Community Spotlight 🔦

Photo for the Article - Coins.ph Lists PHPC on Ronin | Over $148M Gaming Token Unlocks | Key Points | July 9, 2024
Crypto Art PH

Meet CryptoArt PH: A local community that supports Filipino artists in the web3 space by enabling creators to express their stories through blockchain-based art.

  • Their mission includes directing creators to both physical and metaverse platforms.
  • They aim to increase visibility and create sustainable career opportunities for artists.
  • The community collaborates with artists, hosts exhibitions, and bridges Filipino culture with web3 technology.
  • Since its inception, CryptoArt PH and its members have participated and conducted their own art exhibits. Recently, it organized a three-day exhibit titled “Decked Out: Art Reimagined.” 

Check out other articles about CryptoArt PH here.


More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

  • Valora launched Mobile Stack, a decentralized protocol aimed at simplifying and expanding Web3 decentralized application (DApp) development for mobile platforms.
  • Google is facing challenges in achieving its 2030 net-zero emissions goal, primarily due to increased greenhouse gas emissions driven by the energy demands of integrating artificial intelligence into its operations.
  • Celo launches Dango layer 2 testnet, its first step towards joining the Ethereum ecosystem.

Web3 Gaming Section 🎮

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

  • Rumors surfaced suggesting Grand Theft Auto 6 may incorporate cryptocurrency payments, specifically Bitcoin, Ethereum, and USDT, although no official confirmation has been made.
  • Nexon’s MapleStory Universe integrates blockchain to expand the IP beyond gaming, leveraging community creativity and participation with NFTs and developer tools.
  • double jump.tokyopartnered with Ubisoft to integrate web3 technology into Champions Tactics: Grimoria Chronicles, a new PVP Tactical RPG.

Event Announcements 📅

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

Photo for the Article - Coins.ph Lists PHPC on Ronin | Over $148M Gaming Token Unlocks | Key Points | July 9, 2024
  • PDAX at Dela Salle University’s National Finance Congress 2024: July 13, 2024
  • YGG Pilipinas Roadtrip Metro Manila: July 14, 2024
  • BitBulaga “Portfolio Construction in a Bull or Bear Market”: July 27, 2024

Noteworthy 🌟

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

  • A study in PLoS ONE found that U.S. cryptocurrency owners are typically younger, educated males with diverse political views, higher levels of ‘dark’ personality traits, and greater engagement in both normative and problematic political activities, often using alternative social media platforms.
  • TRM Labs reported that cryptocurrency thefts surged in the first half of 2024, doubling to $1.4 billion compared to $657 million in the same period last year.
  • The Singapore FinTech Festival (SFF) 2024, organized by MAS, Elevandi, and Constellar, will spotlight AI and Quantum Computing’s transformative role in financial services, focusing on regulatory alignment and innovation, alongside themes like sustainable finance, hackathons, and industry networking. 

Stay Connected:

We’d love to hear from you! Reply with your thoughts or questions.

This article is published on BitPinas: Coins.ph Lists Peso Stablecoin in an International Crypto Platform | Key Points | July 9, 2024


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