Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on March 22, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.43 trillion US dollars, witnessing a decrease of 3.29% compared to yesterday; the total trading volume is 117.74 billion US dollars, marking a decline of 18.9% from the previous day.
According to sosovalue, the price of $BTC is 63,870 USD, a decrease of 4.04% from yesterday. The market cap of $BTC is 1.26T USD, accounting for 51.6% of the total market cap; $BTC's 24-hour trading volume is 70.84B USD, making up 60.2% of the total trading volume.
The price of $ETH is 3,349.8 USD, down 4.23% from yesterday; the market cap of $ETH is 402.22B USD, representing 16.5% of the total market cap; $ETH's 24-hour trading volume is 42.30B USD, comprising 35.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 61.3% 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 23:55, the top five gainers are:
Top 1 gainer is Enzyme (MLN). As of 23:55 today, its market cap is 41.61M, with a coin price of 28.620 USD, witnessing a 24-hour increase of 39.6%.
The second is NADA Protocol Token (NADA). As of 23:55 today, its coin price is 0.021090 USD, with a 24-hour increase of 38.6%.
The third is Swarm Markets (SMT). As of 23:55 today, its coin price is 0.0064650 USD, showing a 24-hour increase of 38.4%.
In fourth place is Rebel Bots (RBLS). As of 23:55 today, its coin price is 0.052480 USD, with a 24-hour rise of 37.8%.
In fifth place is DAO Maker (DAO). As of 23:55 today, its coin price is 2.2660 USD, increasing by 33.7% 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, $ETH sector has fallen 4.23% relative to the UTC 0 time, led by declines in $eth (-4.23%).
Meme sector has decreased 4.36% relative to UTC 0, with tama (-31.6%) leading the decline.
AI sector has decreased 5.53%, with paal (-14.9%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Montenegrin Court of Appeal has rejected Terraform Labs founder Do Kwon's request to overturn the ruling that approved his extradition to South Korea. This decision takes precedence over a similar demand by the US, and there is no timetable for when he will be extradited. The U.S. Department of Justice has not yet responded to a request for comment. The decision solidifies Kwon's extradition to South Korea, where he could face several criminal offenses. The court's decision was influenced by South Korea's prior extradition request over the United States and other legal criteria. Montenegro's top prosecutor is challenging the decision to extradite Kwon to South Korea, amid dueling demands from Seoul and the US. Prosecutors in Montenegro have suggested that the country's Supreme Court could overturn a previous decision regarding Kwon's extradition to South Korea. The Supreme Court of Montenegro is set to investigate the extradition case of Terra co-founder Do Kwon. Montenegro's Court of Appeal has upheld a ruling for the extradition of Do Kwon, Terraform Labs co-founder, to South Korea, marking a potential end to his extradition saga. Montenegro suspends decision to extradite Do Kwon to South Korea. Former Terraform Labs CEO Do Kwon's extradition to South Korea faces a potential halt as Montenegro's Supreme State Prosecutor's Office challenges the court's ruling. The Supreme Court of Montenegro has ordered that the extradition of Terraform Labs co-founder Do Kwon to his native South Korea be postponed until it can decide on a request from prosecutors.
Next news: Web3 privacy system Espresso has completed a $28 million Series B financing round led by a16z Crypto. The funds will be used for product development, investment in the rollup ecosystem, and team expansion. This follows a $32 million financing round in March 2022, led by Greylock Partners and Electric Capital, with participation from Sequoia Capital, Blockchain Capital, and Slow Ventures. Espresso Systems is developing Layer 1 blockchain infrastructure integrating Proof-of-Stake with ZK rollup mechanism for fast, low-fee transactions. Its CAPE smart contract application aims to provide customizable privacy for Ethereum asset transactions, supporting ERC-20 tokens and future NFT support.
Next news: The Bitcoin Spot ETF and related Bitcoin ETFs have experienced significant net outflows and inflows over the past few days, with Grayscale's GBTC seeing the most substantial outflows. BlackRock's iBit and Fidelity's FBTC have recorded inflows amidst the overall trend of outflows. The outflows are attributed to factors such as Bitcoin's price volatility, regulatory uncertainties, and investor sentiment. Grayscale's GBTC has faced consecutive days of net outflows, with a total historical net outflow of over $13 billion. Despite the outflows, there are indications of resilient demand for exposure to Bitcoin through ETFs, as seen in the inflows into BlackRock's iBit and Fidelity's FBTC. The recent outflows are also linked to factors such as higher fees, bankruptcies of crypto firms, and the ability to convert shares into $BTC directly. The overall trend reflects a dynamic market landscape influenced by various market factors and investor behavior.
Next news: An idle Telegram game called Super Sushi Samurai saw its liquidity provider wallets drained for $4.6 million due to a bug that let users double their own funds. The project's official account acknowledged the exploit related to minting tokens. A smart contract developer noted that the token contract had a bug allowing users to double their funds by transferring their entire wallet balance to themselves. The attacker then drained liquidity on decentralized exchanges, selling the newly minted tokens for 1,310 wrapped ether, worth $4.6 million. However, the funds might not be entirely lost as the exploiter claimed it was a whitehat rescue hack and provided contact details for reimbursement. The game operates on the Blast Network and generates rewards through a trading tax, an on-chain transaction fee rebate from Blast, and yield from ether in the LP pool.
Next news: A series of news articles discuss the recent downturn in Bitcoin's price and its potential impact on the market. The articles cover various perspectives, including explanations for the price drop, predictions for future price movements, critical support and resistance levels, and insights from analysts and traders. Additionally, the influence of market behavior, institutional interest, and upcoming events such as the Federal Reserve's FOMC meeting are highlighted. The news also addresses the potential for a trend reversal, the significance of key price levels, and the impact of the US dollar's strength on Bitcoin's value.
Next news: Bitcoin's recent price movements have seen it briefly fall below $72,000, $71,000, $70,000, $69,000, $68,000, $67,000, $66,000, and $65,000, with corresponding 24-hour declines. The market has experienced fluctuations, rebounds, and significant drops, leading to concerns and optimism among traders and market observers. The Federal Reserve's interest rate decision and the upcoming halving event have also influenced market sentiment. Bitcoin's price risks falling below $60,000 amid uncertainty and selling pressure, with potential support and resistance levels identified. The broader cryptocurrency market has also seen significant losses, with liquidations and marketwide corrections. Despite this, there are signs of recovery and resilience among certain altcoins.
Next news: Frax Finance founder Sam Kazemian unveiled the future roadmap for Frax at the Governance Forum, including plans to achieve a Fraxtal TVL of over $100 billion by the end of 2026. The roadmap involves launching 23 official L3s to initiate the Fraxtal Nation community, introducing new assets such as FRXNEAR, FRXTIA, and FRXMETIS, and proposing financial strategies like reopening the protocol fee switch and reducing the conversion rate from FPIS to VEFXS. The roadmap also includes reserved slots for official partners and additional support from Fraxtal core developers.
Next news: Web3 infrastructure company Succinct has completed a financing round of US$55 million, led by Paradigm. The investment round saw participation from Robot Ventures, Bankless Ventures, Geometry, ZK Validator, and several angel investors including Sreeram Kannan from EigenLayer, Sandeep Nailwal and Daniel Lubarov from Polygon, and Elad Gil. Succinct's Prover Network and SP1 technology aim to make universal ZK high-performance and easy to deploy without the need for complex infrastructure.
Next news: Crypto exchange OKX has announced it will end its services in India, requiring Indian customers to withdraw their funds by April 30. Due to the tightening regulatory environment surrounding cryptocurrencies in India, OKX, the second largest offshore exchange, has issued a notice to its Indian user base. OKX asks Indian users to close their accounts due to regulatory pressure. The exchange has instructed users to close their accounts and withdraw their funds by April 30, marking a significant development nearly three months after the Financial Intelligence Unit (FIU), a unit of India's Ministry of Finance, issued non-compliance notices to nine foreign crypto exchanges. OKX's order underscores the increasing pressure faced by offshore exchanges operating in India's cryptocurrency landscape. The FIU's notice of non-compliance to multiple foreign crypto exchanges serves as a clear indication of the Indian government's scrutiny on crypto-related activities and its commitment to regulatory frameworks. This move is in line with the exchange's commitment to compliance and regulatory adherence amid increased regulatory scrutiny globally. The deadline set by OKX for Indian users to close their accounts and redeem their funds by April 30 adds urgency to the situation. Users are advised to take immediate action to ensure smooth closure of their accounts and withdrawal of funds within the stipulated time.
Next news: Bernstein raises Bitcoin's year-end price target to $90,000 and increases mining stock targets. Analysts at research and brokerage firm Bernstein have raised their year-end price target for Bitcoin to $90,000 from $80,000, citing improved market dynamics. They predict Bitcoin could reach $150,000 as the 2024-2025 cycle high, with the upcoming halving event expected to have a milder impact on miners than in previous years. The halving, estimated to occur on April 20, will reduce the reward for miners from 6.25 $BTC to 3.125 $BTC per block. Despite a predicted hashrate reduction of around 7%, revised from 15%, Bernstein analysts believe this will benefit more efficient, lower-cost miners like CleanSpark and Riot Platforms, potentially making them category leaders. They also see potential in Marathon Digital due to its transition to a self-mining model and high liquidity position. Bernstein rates CleanSpark and Riot stock as outperform, with price targets of $30 and $22, respectively, and gives Marathon a market-perform rating with a $23 target. The recent $10,000 retreat in Bitcoin's price is seen as a temporary dip buying opportunity ahead of the halving.
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.