Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on February 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 1.92 trillion US dollars, witnessing a decrease of 1.1% compared to yesterday; the total trading volume is 61.18 billion US dollars, marking a decline of 27.9% from the previous day.
According to sosovalue, the price of $BTC is 50,990 USD, a decrease of 1.73% from yesterday. The market cap of $BTC is 1.00T USD, accounting for 52.2% of the total market cap; $BTC's 24-hour trading volume is 31.99B USD, making up 52.3% of the total trading volume.
The price of $ETH is 2,754 USD, down 0.795% from yesterday; the market cap of $ETH is 330.93B USD, representing 17.3% of the total market cap; $ETH's 24-hour trading volume is 25.58B USD, comprising 41.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 94.1% 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 23:55, the top five gainers are:
Top 1 gainer is Livepeer. As of 23:55 today, its market cap is 590.70M, with a coin price of 19.130 USD, witnessing a 24-hour increase of 44.7%.
The second is Matrix AI Network. As of 23:55 today, its coin price is 0.030814 USD, with a 24-hour increase of 35.2%.
The third is Horizen. As of 23:55 today, its coin price is 11.320 USD, showing a 24-hour increase of 34.4%.
In fourth place is Altair. As of 23:55 today, its coin price is 0.018768 USD, with a 24-hour rise of 34.2%.
In fifth place is DIA. As of 23:55 today, its coin price is 0.60510 USD, increasing by 30.7% 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, AI sector has risen 2.05% relative to the UTC 0 time, led by gains in man (34.8%), agi (28.8%), and ali (20.5%).
GameFi sector has decreased -2.26% relative to UTC 0, with DREAMS (-9.43%), hello (-8.62%), and ovr (-8.33%) leading the decline.
Meme sector has decreased -3.07%, with bitcoin (-26.8%), silly (-8.17%), and $myro (-7.15%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Coinbase reported a profitable final quarter in 2023, with a profit of $273.4 million compared to a loss of $557 million the previous year. The company attributed its success in part to the USD Coin stablecoin, which contributed $171.6 million in revenue.
Next news: Solana has integrated with Filecoin to utilize its decentralized storage services. Filecoin announced on the X platform that it has completed integration with Solana. Solana will utilize Filecoin to enable infrastructure providers, explorers, indexers, and anyone who needs historical access to more easily access and use its block history. Filecoin will make Solana's block history more accessible to infrastructure providers, explorers, indexers, and any user who needs historical access, and to achieve data scalability by use Filecoin’s decentralized storage capabilities and enhanced security. Solana and Filecoin have announced a partnership aimed at enhancing decentralized storage solutions. This collaboration marks a significant milestone in the blockchain industry, signaling a shift towards more robust and decentralized storage options. By combining their strengths, Solana and Filecoin aim to revolutionize how data is stored and accessed within blockchain networks, enhancing security, accessibility, and reliability for users and developers. Solana plans to leverage Filecoin's decentralized storage capabilities to improve its blockchain infrastructure, aiming for data redundancy, scalability, and heightened security measures. The partnership also extends beyond their individual platforms, impacting the entire blockchain sector by driving innovation and adoption. This collaboration sets the stage for future advancements in decentralized technology, highlighting the importance of continued collaboration and integration among blockchain projects for fostering interoperability and seamless integration of technologies. Solana has announced its integration with Filecoin, marking a significant partnership that aims to enhance data accessibility, transaction speed, and network performance for Solana. This collaboration leverages Filecoin's decentralized data storage and processing capabilities to improve Solana's block history accessibility and usability for various Web3 infrastructure providers, including block explorers and indexers. The integration is expected to achieve new milestones in data redundancy, scalability, and security without compromising decentralization. Following the announcement, Filecoin's price surged over 10% to multi-week highs above $6.4. Solana Labs founder Anatoly Yakovenko praised Filecoin's decentralized archive layer, emphasizing its importance for tech developers and Web3 enthusiasts across different ecosystems. The partnership also involves Triton One, an RPC infrastructure provider, facilitating the integration between Solana and Filecoin.
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: 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: 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: 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: MicroStrategy's Bitcoin Profits Exceed $4 Billion, Criminal Judgment Against CZ Postponed, STRK Airdrop Set to Commence on February 20 and Top10 News
Next news: 83 new wallets, suspected to belong to the same institution, have withdrawn a total of 11,097,687 LINK tokens, equivalent to approximately $216.4 million USD, from Binance over the past two weeks. According to BlockBeats news on February 17th, Lookonchain monitoring reported that in the past two weeks, 83 new wallets (possibly belonging to the same organization) have withdrawn a total of 11,097,687 LINK tokens (equivalent to 216.4 million USD) from Binance.
Next news: A smart whale spent 8.58M $USDT to buy 166 $WBTC at $51,797 today. The whale bought 4,913 $ETH($13.7M) at an average price of $1,262 and 186 $WBTC($9.64M) at an average price of $17,346 between Dec 13 and Dec 20, 2023, the profit is ~$13.9M at the current price.
Next news: Coinbase donates $3.6 million to Bitcoin-supporting nonprofit Brink as it winds down GiveCrypto, an organization that gave out crypto to those in poverty. In December, the exchange said that it was ending the initiative due to its inability to create a lasting impact. At the time, Coinbase said it was splitting the remaining funds between Brink and a charity platform called GiveDirectly, but didn't specify amounts. Founded in 2020, Brink aims to boost the Bitcoin protocol through research and development, and by supporting the Bitcoin developer community. It offers a fellowship program to onboard new software engineers into Bitcoin development and a grants program for existing Bitcoin developers. Brink said the funds will be directly used to support its grantees, which are a number of developers focused on the Bitcoin codebase. “Brink is excited to receive one of the biggest Bitcoin open source developer donations from one of the biggest companies in the space, Coinbase. With these funds, we will continue our mission to support the Bitcoin developer ecosystem through funding, education, and mentoring," said Brink co-founder Mike Schmidt. In June 2023, Brink raised $5 million from Jack Dorsey’s Smart Small Funding Initiative to support independent Bitcoin developers through grants. In January 2024, investment firm VanEck pledged 5% of its spot Bitcoin ETF profits to Brink.
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.