Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on March 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.33 trillion US dollars, witnessing a 24-hour change of 0.275%; the total trading volume is 95.07 billion US dollars, marking a 24-hour change of -12.2% from the previous day.
According to sosovalue, the price of $BTC is 61,899 USD, a decrease of 0.994% from yesterday. The market cap of $BTC is 1.22T USD, accounting for 52.1% of the total market cap; $BTC's 24-hour trading volume is 36.70B USD, making up 38.6% of the total trading volume.
The price of $ETH is 3,408.2 USD, down 0.54% from yesterday; the market cap of $ETH is 409.46B USD, representing 17.5% of the total market cap; $ETH's 24-hour trading volume is 18.69B USD, comprising 19.7% 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 58.3% 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 05:55, the top five gainers are:
Top 1 gainer is Cratos. As of 05:55 today, its market cap is 30.19M, with a coin price of 0.00052422, witnessing a 24-hour increase of 91.1%.
The second is Tamadoge. As of 05:55 today, its coin price is 0.010815, with a 24-hour increase of 90.9%.
The third is Quickswap. As of 05:55 today, its coin price is 0.11352, showing a 24-hour increase of 78.7%.
In fourth place is XEN Crypto. As of 05:55 today, its coin price is 0.00000069300, with a 24-hour rise of 63.8%.
In fifth place is Oxygen. As of 05:55 today, its coin price is 0.0089820, increasing by 53.7% over the last 24 hours.
Moving on, let's take a look at the sector performance in crypto market.
Acccording to sosovalue, out of 15 sectors, 13 are up and 2 are down. Notably, Meme sector has risen 11.4% relative to the UTC 0 time, led by gains in tama (92.3%), corgiai (43.9%), and floki (35.7%).
Infra sector has increased 5.91% relative to UTC 0, with hot (41.5%), nest (33.5%), and maro (30.4%) leading the rise.
NFT sector has risen 5.57%, with boson (27.8%), vra (27.5%), and ern (18.1%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Taiko, an Ethereum Layer 2 network, has successfully completed a $15 million Series A financing round. The funding was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital, with additional participation from Wintermute Ventures, Flow Traders, Amber Group, OKX Ventures, and GSR. It remains unclear when Taiko will initiate its latest round of fundraising and whether it will opt for equity, tokens, or a hybrid structure for financing. Taiko's co-founder and COO, Terence Lam, has refrained from commenting on the timeline, structure, and valuation of the funding, but mentioned that the structures of all three funding rounds are consistent. Previously, Taiko disclosed two rounds of funding totaling $22 million in June 2023.
Next news: The crypto market is experiencing a significant upturn, with the meme coin sector showing a remarkable increase of over 20%. Leading the gains are popular meme coins such as DOGE, BEFE, and PEPE. This bullish trend is attributed to the growing acceptance of Web3 applications and institutional support, which has led to increased market-wide token valuations. DOGE remains the dominant player in the meme coin market, known for its stability and strong community support. BEFE, a newer entrant, is gaining attention for its unique approach and potential for high returns, while PEPE continues to hold a strong position despite the bear market. These developments indicate a vibrant and evolving meme coin sector within the broader cryptocurrency market.
Next news: According to various sources, the US Bitcoin Spot ETF and other Bitcoin spot ETFs have experienced significant net inflows and outflows. Grayscale's ETF GBTC has seen both inflows and outflows, with BlackRock's iBit and Fidelity's FBTC also experiencing net inflows. The net inflows and outflows have set historical records and indicate a shift in investor sentiment. Despite significant outflows from Grayscale's Bitcoin ETF, net inflows into the 10 US spot Bitcoin ETFs remained positive, dropping from a record $673 million to $92 million. The outflows from GBTC were offset by strong inflows into BlackRock's iShares Bitcoin Trust (IBIT), marking the second-highest total in a single day since GBTC converted to an ETF. The overall net inflows for all 10 US spot Bitcoin ETFs indicate a change in investor behavior towards cheaper funds. The significant outflows from GBTC may be related to Genesis and Gemini reaching a principle settlement with other creditors in a bankruptcy case.
Next news: A whale deposited $5.76 million worth of SHIB to Binance, potentially earning $2.5 million in profit. BlockBeats reported on March 2nd that according to Lookonchain monitoring, a whale deposited $5.76 million worth of SHIB into Binance through five addresses within the past 11 hours. It is reported that the whale withdrew this token from Binance between November 17th and December 27th last year, which was worth approximately $3.24 million at the time. Therefore, this time the whale may earn a profit of $2.5 million.
Next news: UK law enforcement will soon have more power to seize crypto assets due to a crime bill passed last year, which gave law enforcement agencies more power to seize and freeze crypto. The UK is set to enhance its security measures by granting law enforcement the authority to seize cryptocurrency assets linked to criminal activities, including terrorism, starting April 26. This move follows the recent approval of secondary legislation, complementing the Economic Crime and Corporate Transparency Act 2023. The Act, which will soon be in effect, introduces a civil compensation regime for crypto and crypto asset confiscation orders, allowing for the seizure of crypto-related items. These items are defined as those containing or providing access to information aiding in the seizure of crypto assets. Additionally, the former British Finance Minister has joined cryptocurrency exchange Coinbase as a global advisor.
Next news: Shiba Inu, a dog-themed cryptocurrency, has experienced a significant surge in whale transaction volume, marking a 422% increase, the largest in nearly a year. According to IntoTheBlock data, this increase translates to $374.98 million in monetary terms and 28 trillion SHIB in cryptocurrency terms, reaching a yearly high for large transaction volume. Notably, indicators such as large holder inflows and netflows have also seen substantial increases, suggesting robust buying activity among whales. Shiba Inu's price skyrocketed on Feb. 29, with a nearly 35% rise from lows of $0.00001145 to $0.00001475, marking a significant rally. Despite a slight drop, SHIB remains 39% higher on a weekly basis. Additionally, Tangem has successfully integrated Shiba Inu's Layer-2 Shibarium into its cold wallet, indicating positive developments for the cryptocurrency.
Next news: Grayscale said that if inflation remains high, U.S. Fed officials may delay interest rate cuts until later this year or 2025, it may be good for the dollar but bad for Bitcoin. The acceleration of U.S. inflation and the reduced possibility of the Fed cutting interest rates may be the main reasons that hinder the rise of cryptocurrency prices in the future.
Next news: A newly created address withdrew a value of $7.38 million ARKM from Binance in the past hour. BlockBeats news reported on March 2nd that, according to Lookonchain, in the past hour, a newly created address withdrew $7.38 million worth of ARKM from Binance.
Next news: Uniswap has initiated a vote on the "Activate Uniswap Protocol Governance" proposal with a 100% approval rate. The proposal aims to upgrade the protocol, enable permissionless and programmatic protocol fee collection, and distribute protocol fees proportionally to UNI token holders. The vote will end on March 7th, and the on-chain voting will be released on March 8th.
Next news: UNI briefly surpasses $12 and gains over 5% in an hour, according to market information from OKX.
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.