According to Foresight News, data from Bitcoin.gob shows that El Salvador has expanded its Bitcoin reserves by purchasing an additional five BTC. This latest acquisition increases the nation's total Bitcoin holdings to approximately 6,100.18 BTC. At current market rates, the value of these reserves is estimated to be around $507,614,541.
**Pakistan is Stepping into the Future of Crypto 🇵🇰**
With over 22 million active crypto traders, Pakistan is emerging as a significant force in the global digital asset landscape.
To bring clarity and regulation to this rapidly growing sector, Pakistan is forming a **National Cryptocurrency Committee**. This move comes after high-level consultations with a digital asset advisor from former U.S. President Donald Trump’s administration.
The committee—made up of government officials, financial regulators, and industry leaders—will focus on crafting policies, ensuring compliance, and aligning with international standards, as announced by Pakistan’s Ministry of Finance.
In addition, the government is preparing to introduce **crypto taxation**, a major milestone in formalizing the digital economy. The crypto landscape in Pakistan is transforming fast—stay updated and stay ahead of the curve!
**Bitcoin Finds Stability After a Week of Wild Swings! 🚀**
What a week it has been in the crypto world! Bitcoin experienced a whirlwind of activity, initially surging toward the $100,000 mark following the Bybit hack, only to pull back shortly after. However, BTC showed resilience, bouncing back with a $7,000 recovery from its $78,000 low and is now stabilizing around $85,000.
The altcoin market is also on the move! Ethereum gained 5%, pushing past $2,200, while BNB rose 4%, approaching the $600 level. Ripple held strong above the $2 mark, surging 8% to reach $2.17. Other major players like SOL, DOGE, and ADA are also seeing positive momentum, painting the market green! 🎉
What’s your outlook on the current market trends? Share your thoughts in the comments below! 💬$BTC
The whale recently sold 96,155 $SOL, netting $4.5 million. While this might seem like a solid move, it’s worth noting that these tokens were purchased at an average price of $100 a year ago and could have been sold for $250 not too long ago. Even whales are starting to feel the pressure, panic-selling near the lows.
Are we headed even lower? I don’t think so. As previously mentioned, we’re approaching a major support zone for BTC around the $87k mark. That said, a drop to $71k isn’t out of the question, especially with Trump’s actions seemingly aimed at destabilizing the markets. However, there’s still hope. Whales and institutions are largely continuing to accumulate, despite occasional large players cashing out.
For instance, today alone, they scooped up 8,000 BTC, 40,600 ETH, and made numerous smaller altcoin purchases. What’s next? What are your thoughts? $BTC $ETH
As of October 6, 2024, the Pi Network has a total supply of 68 million tokens, with a maximum supply capped at 100 billion tokens.
**Token Distribution:** - **80% Locked (for a 3-year vesting period):** This mechanism is designed to ensure price stability by gradually releasing tokens into circulation over time. - **20% Circulating Supply (13.6M tokens):** - **65% (8.84M tokens):** Allocated as mining rewards for users, incentivizing participation and engagement within the network. - **10%:** Dedicated to ecosystem development, fostering innovation and expansion of the Pi Network. - **5%:** Reserved for liquidity provision on exchanges, ensuring smooth trading and market accessibility.
This well-structured tokenomics model aims to balance long-term stability, user rewards, and sustainable growth of the Pi Network ecosystem.