Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on February 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 1.94 trillion US dollars, witnessing a decrease of 0.631% compared to yesterday; the total trading volume is 65.67 billion US dollars, marking a decline of 25.3% from the previous day.
According to sosovalue, the price of $BTC is 51,693 USD, a decrease of 0.261% from yesterday. The market cap of $BTC is 1.01T USD, accounting for 52.4% of the total market cap; $BTC's 24-hour trading volume is 31.99B USD, making up 48.7% of the total trading volume.
The price of $ETH is 2,775.8 USD, down 1.19% from yesterday; the market cap of $ETH is 333.56B USD, representing 17.2% of the total market cap; $ETH's 24-hour trading volume is 25.58B USD, comprising 39% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 87.7% of the total trading volume.
After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 17:55, the top five gainers are:
Top 1 gainer is Santos FC Fan Token. As of 17:55 today, its market cap is 36.79M, with a coin price of 6.8810 USD, witnessing a 24-hour increase of 48.7%.
The second is Delysium. As of 17:55 today, its coin price is 0.10146 USD, with a 24-hour increase of 36.4%.
The third is Rejuve.AI. As of 17:55 today, its coin price is 0.028290 USD, showing a 24-hour increase of 31.8%.
In fourth place is Matrix AI Network. As of 17:55 today, its coin price is 0.027849 USD, with a 24-hour rise of 27.2%.
In fifth place is DIA. As of 17:55 today, its coin price is 0.58210 USD, increasing by 25.9% over the last 24 hours.
Moving on, let's take a look at the sector performance in the crypto market.
According to sosovalue, out of 15 sectors, 13 are up and 2 are down. Notably, Today, there are no sectors with a price change exceeding 2%.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Coinbase, the cryptocurrency exchange platform, reported strong fourth-quarter earnings, surpassing profit estimates and exceeding market expectations. The company's net income for the quarter was $273 million, marking its first profitable quarter since 2021. Coinbase's total revenue for the quarter reached $954 million, with transaction revenues increasing to $529 million. The positive financial performance was driven by a market rebound and increased trading volumes. The company's stock price surged following the earnings report, with shares rising by as much as 15%. Analysts have become more optimistic about Coinbase's future prospects, citing the positive impact of rising cryptocurrency prices on the exchange's revenue.
Next news: Asset manager Jupiter's crypto investment was scrapped by the compliance team, according to the Financial Times. The firm's Gold & Silver Fund made a $2.58 million investment in an XRP ETP, which was later cancelled.
Next news: The total open interest of Ethereum futures contracts across the entire network has exceeded $10 billion, according to CoinGlass data reported by BlockBeats on February 16th. The total open interest has risen to 3.5924 million $ETH, marking an increase of 1.26% in the past 24 hours. Binance holds the highest open interest in Ethereum contracts, with 1.1894 million $ETH (approximately $3.369 billion), showing a 2.89% increase in holdings in the past 24 hours. Bybit follows with the second-highest open interest, having 0.6622 million $ETH (approximately $1.875 billion), but experienced a 0.91% decrease in holdings in the past 24 hours.
Next news: Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection, has announced its acquisition of Proof, a significant player in the NFT space. This acquisition includes Proof Collective and popular collections such as Moonbirds, Oddities, Mythics, and the Grails exhibition series. The move is aimed at bolstering Yuga Labs' vision of becoming the 'front door of Web3,' as stated by CEO Daniel Alegre. By integrating Proof's assets, team, and intellectual property into its ecosystem, Yuga Labs seeks to enhance its offerings and solidify its position in the digital art and blockchain community. A notable part of this acquisition is the incorporation of the Moonbirds collection into Otherside, Yuga Labs' metaverse project, which is designed as a collaborative space for content creators, communities, and brands. Kevin Rose, CEO and founder of Proof, expressed enthusiasm for Moonbirds' new home, anticipating a fruitful future for the collection's collectors within the Otherside metaverse. This integration highlights Yuga Labs' commitment to fostering digital fine art and community engagement. Additionally, Yuga Labs has a history of strategic acquisitions and partnerships, including Roar Studios for the Otherside metaverse and the Web3 ecosystem WeNew, along with its flagship NFT collection, 10KTF. These moves, along with partnerships with brands like Louis Vuitton and Gucci, showcase Yuga Labs' aggressive expansion strategy and its dedication to building a cohesive, interoperable digital world.
Next news: The Aptos Foundation has partnered with Jambo to launch the JamboPhone, which is priced at $99. According to BlockBeats news on February 16th, the Aptos Foundation jointly launched JamboPhone with Web3 application Jambo, which is priced at $99 and is now available in over 40 countries/regions. The phone aims to promote Web3 access in emerging markets. JamboPhone comes pre-installed with the Aptos ecosystem wallet Petra and JamboApp, providing direct access to the Aptos ecosystem and other ecosystems.
Next news: The Uniswap Foundation announced that the launch of Uniswap v4 is tentatively scheduled for the Q3 of 2024 and is currently in the first phase, including core code completion, testing, gas optimization, security enhancements, and the finalization of peripherals. The second phase is to conduct comprehensive audits and community audit competitions, and deploy v4 to the test network.
Next news: CoinShares reported a record $1.1 billion inflow into digital asset investment products, with a focus on newly issued spot Bitcoin ETFs in the United States. Bitcoin accounted for 98% of the inflows, while Ethereum and Cardano also saw positive inflows. The total inflow since the start of the year is $2.7 billion, with assets under management reaching $59 billion. The surge in inflows coincides with a slowdown in withdrawals from the Grayscale Investments’ Bitcoin Trust ETF (GBTC).
Next news: The launch of spot Bitcoin ETFs has reignited enthusiasm for Bitcoin as analysts predict a potential breach of a new all-time high this year. With higher demand and an expected supply crunch due to the upcoming Bitcoin halving, investors may be driven by FOMO to cash in on potentially lucrative gains. Retail investors, particularly Bitcoin believers, have already shown interest in these ETFs, and more funds may flow in from this group in the coming days.
Next news: VanEck and ARK/21Shares have updated their application documents for a spot Ethereum ETF, according to BlockBeats news on February 17th. VanEck submitted a revised S-1A document, and ARK/21Shares submitted a new 19B-4 document along with a series of new analytical explanations for their spot Ethereum ETF, as reported by Bloomberg analysts Eric Balchunas and James Seyffart. VanEck has updated its S1-A filing for a spot Ethereum ETF with the SEC, as the race for such products intensifies. The SEC is currently reviewing several applications for spot Ethereum ETFs, including those from major firms like BlackRock and Grayscale Investments. The SEC's concerns about Ethereum's transition to a proof of stake mechanism and potential market manipulation have led to delays in approval. However, experts believe there is a 60% chance of approval by May, especially after SEC Commissioner Hester Peirce's optimistic comments. The spot Bitcoin ETF market, approved in January, has already seen significant growth, with AUM surpassing $10 billion.
Next news: Coinbase International, the global version of the cryptocurrency exchange Coinbase, announced it will list Polkadot (DOT), Internet Computer (ICP), and NEAR Protocol (NEAR) altcoins on its futures platform. The altcoins will be listed in the DOT-PERP, ICP-PERP, and NEAR-PERP markets on February 22, 2024, at 13:00 Turkey time (UTC+3). Additionally, Coinbase Global is set to report its earnings after the market closes in the US today, with analysts expecting fourth-quarter earnings per share of $0.02 and revenue of $826 million. However, Coinbase still faces regulatory challenges, including a lawsuit from the SEC for allegedly operating as an unregistered securities exchange. A judge heard arguments last month and will decide on the necessity of a hearing in the coming weeks.
Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.xyz, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.