As of 11:59 PM on March 3, 2024, the total market cap of the crypto market is 2.35 trillion US dollars, showing a 0.668% increase from the previous day; the total trading volume is 92.65 billion US dollars, indicating a decrease of 12.4% from the previous day.
According to sosovalue, the price of $BTC is 62,175 USD, an increase of 0.69% from yesterday. The market cap of $BTC is 1.22 trillion USD, accounting for 52.1% of the total market cap; $BTC's 24-hour trading volume is 36.70 billion USD, making up 39.6% of the total trading volume.
The price of $ETH is 3,423.2 USD, up 0.235% from yesterday; the market cap of $ETH is 411.26 billion USD, representing 17.5% of the total market cap; $ETH's 24-hour trading volume is 18.69 billion USD, comprising 20.2% 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 59.8% 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 on March 3, 2024, according to the latest data, the top five gainers are:
Top 1 gainer is NUM Token. As of 23:55 today, its market cap is 89.94M, with a coin price of 0.15304 USD, witnessing a 24-hour increase of 127%.
The second is Golem. As of 23:55 today, its coin price is 0.72240 USD, with a 24-hour increase of 80.4%.
The third is HOPR. As of 23:55 today, its coin price is 0.13015 USD, showing a 24-hour increase of 78%.
In fourth place is Raft. As of 23:55 today, its coin price is 0.0012380 USD, with a 24-hour rise of 73.6%.
In fifth place is Smooth Love Potion. As of 23:55 today, its coin price is 0.0078220 USD, increasing by 62.4% 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, DePIN sector has risen 8.77% relative to the UTC 0 time, led by gains in glm (80.5%), hopr (75.8%), and xyo (37.3%).
Meme sector has risen 8.55% relative to UTC 0, with WEN (58.3%), floki (40.3%), and wif (39.4%) leading the rise.
AI sector has risen 3.35%, with num (125%), glm (80.5%), and lai (33.7%) 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: Shiba Inu, a dog-themed cryptocurrency, has experienced significant price surges and increased whale transactions, reaching yearly highs. The cryptocurrency's Layer-2 network, Shibarium, has also achieved significant milestones. Additionally, there are indications of potential bull runs and market optimism surrounding Shiba Inu, despite signs of bull exhaustion and overheated market conditions.
Next news: 99% of Bitcoin addresses are currently in profit due to the cryptocurrency's surge to a three-year high of $63,215. This remarkable profitability rate, as reported by IntoTheBlock, indicates that 51.45 million Bitcoin holders are experiencing gains. The surge has also led to a decrease in selling pressure among holders, with many looking to hold onto their positions in anticipation of further price increases. Crypto analyst Ali_Charts highlighted a significant support wall between $54,300 and $56,200, suggesting a strong base for Bitcoin's price and potential for further rallies. Additionally, Bitcoin's transaction volume in profit to loss ratio and its market value to realized value (MVRV) ratio have reached their highest levels in years, indicating a bullish outlook for the cryptocurrency.
Next news: BlackRock's iShares Silver Trust (IBIT) has surpassed the largest silver ETF in terms of assets under management, and ranks third among commodity ETFs. According to HODL15Capital's statistics on March 3, BlockBeats reported that based on assets under management (AUM), BlackRock's iShares Silver Trust (IBIT) has surpassed the largest silver ETF SLV ($9.626 billion) with an AUM of $10.03 billion, ranking third among commodity ETFs. In addition, Fidelity FBTC, ARK 21Shares ARKB, and Bitwise BITB rank fifth, ninth, and eleventh, respectively.
Next news: The U.S. Securities and Exchange Commission (SEC) is unlikely to approve exchange-traded funds (ETFs) based on spot Ether ($ETH) in 2024, according to Jake Chervinsky, a top crypto lawyer. This skepticism stems from the political pressure and backlash the SEC faced after approving Bitcoin spot ETFs. Despite the U.S. court's decision in January 2023 to authorize the launch of Bitcoin ETFs, the political climate may prevent the approval of $ETH ETFs. Chervinsky suggests that companies like BlackRock, involved in ETF applications, would likely withdraw their $ETH ETF applications if requested by the SEC. The market's volatile nature, described as "animal spirits" taking control, further complicates the situation. However, Chervinsky remains optimistic that $ETH ETFs will eventually be approved, noting Ethereum's significant price increase following the Bitcoin ETF approval.
Next news: PEPE's short-term price dropped to 0.00000362 USD, with a decrease of over 16% in the last 24 hours. BlockBeats reported on March 3rd that according to OKX market information, PEPE briefly dropped to $0.00000362 and is currently trading at $0.00000387, with a 24-hour decline of over 16%.
Next news: RENZO TVL, an Ethereum-based re-staking protocol, has surpassed $700 million in total value locked (TVL). RENZO TVL exceeded $700 million and reached $717 million on March 3rd. RENZO announced a $3 million seed funding round led by Maven11 and investment from Binance Labs to support liquidity re-collateralization on the EigenLayer ecosystem.
Next news: Bitcoin has experienced a significant surge in value, surpassing various price milestones such as $52,000, $53,000, $54,000, $55,000, $56,000, $57,000, $58,000, $59,000, $60,000, $61,500, $63,000, and $64,000. This surge is attributed to factors such as institutional interest, ETF inflows, and the upcoming Bitcoin halving event. The market has seen increased optimism and bullish sentiment, with predictions of potential further gains and new all-time highs. However, there are also concerns about potential corrections and market volatility. Bitcoin's dominance has increased, and the total cryptocurrency market cap has surpassed $2 trillion, with significant gains in altcoins as well. The surge in Bitcoin's value has led to discussions about its potential to reach or even exceed $100,000, with various predictions and analyses shaping market expectations.
Next news: DOGE’s value surged by over 60% last week, but a price correction might be in the pipeline. Dogecoin’s [DOGE] price has climbed considerably over the past week. According to CoinMarketCap, the meme coin was up by more than 65% in the last seven days. At the time of writing, DOGE was trading at $0.1414 with a market capitalization of over $20 billion. The road ahead for Dogecoin: On the 2nd of March, analyst World of Charts predicted that DOGE’s price might move up by over 135%. If this analysis translates into reality, DOGE’s next target might be $0.265. To better understand whether this outcome is likely, AMBCrypto checked the meme coin’s metrics. Considering a utopian situation, we took a look at HyBlock Capital’s data. As per our analysis, DOGE faced strong resistance near the $0.143 mark. A breakout above that mark would trigger a further bull rally. Our analysis of Santiment’s data revealed that Dogecoin’s social volume and MVRV ratio rose considerably, showing increased chances of a continued price hike. Its Binance funding rate also remained green, meaning that derivatives investors were actively buying DOGE at press time. But despite the price hike, a few metrics looked bearish. Notably, DOGE’s weighted sentiment dropped, suggesting that negative sentiment around the coin had increased. Another bearish metric, the open interest, had dropped in the recent past as well. Dogecoin’s [DOGE] price touched the upper limit of the Bollinger Bands at press time, while its Relative Strength Index (RSI) was in the overbought zone. This suggested that selling pressure might rise in the days to come, which could result in an end to DOGE’s bull run.
Next news: Machi Big Brother(@machibigbrother) spent 201 $ETH ($689K) to buy 223,420 $YES at $3.08 5 hours ago.
And he also claimed 51,911 $YES($173K).
He currently holds 275,331 $YES($917K) and is the 3rd holder of $YES.
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.