As of 5:59 PM on April 2, 2024, the total market cap of the crypto market is 2.50 trillion US dollars, experiencing a decrease of 5.07% over the past 24 hours. The total trading volume is 116.67 billion US dollars, showing an increase of 43.2% from the previous day.
According to sosovalue, the price of $BTC is 66,100 USD, a decrease of 4.75% from yesterday. The market cap of $BTC is 1.30 trillion USD, accounting for 52.1% of the total market cap; $BTC's 24-hour trading volume is 19.72 billion USD, making up 16.9% of the total trading volume.
The price of $ETH is 3,346.3 USD, down 5.47% from yesterday; the market cap of $ETH is 401.79 billion USD, representing 16.1% of the total market cap; $ETH's 24-hour trading volume is 10.41 billion USD, comprising 8.93% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 25.83% 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 SeaPad. As of 17:55 today, its market cap is 0E-8, with a coin price of 0.2084 USD, witnessing a 24-hour increase of 56.1%.
The second is Aavegotchi. As of 17:55 today, its coin price is 2.976 USD, with a 24-hour increase of 37.2%.
The third is Wagmi. As of 17:55 today, its coin price is 0.014474 USD, showing a 24-hour increase of 36.6%.
In fourth place is Crypton. As of 17:55 today, its coin price is 0.013415 USD, with a 24-hour rise of 25.5%.
In fifth place is Elastos. As of 17:55 today, its coin price is 4.2791 USD, increasing by 24.7% 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, Others sector has fallen 7.71% relative to the UTC 0 time, led by declines in maps (-24.8%), uno (-15.7%), and xen (-15.4%).
DePIN sector has decreased 7.78% relative to UTC 0, with flux (-12.8%), aleph (-12.2%), and tfuel (-12%) leading the decline.
Meme sector has fallen 8.68%, with tsuka (-29.9%), myro (-19%), and WEN (-18.3%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Bloomberg, Jirayut Srupsrisopa, CEO of Bitkub Capital Group Holdings, the owner of Thailand's largest cryptocurrency trading platform, announced plans for an IPO in 2025. The company aims to list on the Stock Exchange of Thailand and is currently hiring financial advisors for the process. Bitkub Capital Group Holdings, the owner of Thailand's biggest crypto exchange, is planning an Initial Public Offering for 2025, Chief Executive Officer Jirayut Srupsrisopa said in an interview on Monday. Jirayut said Bitkub plans to go public on the Stock Exchange of Thailand in an effort to boost the company's profile and raise money. Bitkub is in the process of hiring financial advisers for the listing, he added. Thailand's biggest crypto exchange, Bitkub, is gearing up for an IPO in 2025 by planning to hire 1,000 employees. Bitkub Capital Group Holdings, the owner of Bitkub, is hiring financial advisers to facilitate its planned IPO on the Stock Exchange of Thailand. Despite a workforce reduction of 6% in 2022 and 2023, the company aims to double its workforce by the IPO launch. Bitkub, which holds a 77% market share in Thailand and handles about $30 million in daily trading volumes, faces competition from other major Thai crypto exchanges and global players like Binance. Thailand has seen a significant rise in crypto users, with projections indicating a growth to 17.7 million by 2028. Amidst this growing adoption, Bitkub sold a 9.2% stake in its crypto exchange unit to Asphere Innovations in July 2023. Despite a failed acquisition attempt by SCB X in 2022 due to regulatory scrutiny, Bitkub Online, which accounts for 80% of Bitkub Capital's earnings, is expected to see a valuation increase. Bitkub, Thailand’s largest cryptocurrency exchange, plans to IPO in Thailand in 2025. Binance and Kasikornbank Pcl are making moves to grab market share from Bitkub in the past six months. The number of active crypto trading accounts in Thailand jumped to 238,000 in March. BBG
Next news: Binance Holdings Ltd. has named its first board of directors as it seeks to reshape itself following a guilty plea to US charges of anti-money laundering and sanctions violations last year. Gabriel Abed, former Ambassador of Barbados to the United Arab Emirates, has been appointed as chairman. The seven-member board includes CEO Richard Teng and three other company executives - Heina Chen, Jinkai He, and Lilai Wang, along with two external members, Arnaud Ventura and Xin Wang. The appointments were effective from March 7, as per the Abu Dhabi Global Market website.
Next news: According to reports by CoinShares and BlockBeats News, crypto asset investment products have seen significant inflows, with over $862 million in the last week. Global crypto funds also rebounded with nearly $900 million in net inflows, attributed to Bitcoin's price surge above $70,000. Additionally, monthly inflows for crypto funds have surpassed $5 billion, indicating increasing investor interest and confidence in the cryptocurrency market. Spot Bitcoin ETFs are gaining traction in the US, reflecting a growing acceptance of cryptocurrencies as a legitimate investment class.
Next news: Bitcoin experiences a series of price drops, falling below $70,000 and then below $69,000 amid market fluctuations. The drops range from 1.51% to 4.05% over 24 hours, according to OKX market data and Blockbeats News.
Next news: In the past 24 hours, the crypto market experienced significant liquidations totaling $212 million, $259 million, and $162 million across the network. The liquidations mainly affected long orders, with long positions accounting for the majority of the liquidated amount. Additionally, Bitcoin and $ETH prices saw sudden drops, leading to further liquidations totaling $157 million.
Next news: Tether announces the completion of the SOC 2 Type 1 audit, marking a significant security update for the stablecoin issuer. The audit, developed by the American Institute of Certified Public Accountants (AICPA), focuses on security, availability, processing integrity, and confidentiality. It ensures that Tether has strong IT controls in place to secure its systems, maintain accessibility, and protect privacy information.
Next news: Tether, the issuer of the world's largest stablecoin USDT, has increased its Bitcoin reserve to over 75,000 $BTC with a recent purchase of 8,889 $BTC from Bitfinex. This brings Tether's total Bitcoin holdings to around $5.2 billion. The purchase coincides with Bitcoin hitting a historic high in 2024. Tether's CEO, Paolo Ardoino, has confirmed the company's decision to invest in Bitcoin, citing its strength and potential as an investment asset. Tether's portfolio now includes stablecoins such as USDT, EURT, and XAUT. The company aims to pioneer the development of open-source, multimodal AI models to set new industry standards in the AI space. Tether remains the largest stablecoin issuer, with a total USDT supply standing at over 109 billion.
Next news: On March 30, a significant meeting was held at the Shanghai Shutu Blockchain Research Institute to launch and demonstrate the implementation plan of the "Super-Large-Scale Blockchain Basic Platform for the 'Belt and Road'" project. This project, led by the Shanghai Shutu Blockchain Research Institute and involving multiple prestigious institutions such as the China Academy of Information and Communications Technology, Shanghai Jiao Tong University, Fudan University, and Shanghai Maritime University, aims to develop an advanced blockchain platform. This platform is designed to support multi-country deployment and multi-subject collaborative supervision, facilitating cross-border cooperation in economic, trade, and cultural fields. The meeting was attended by expert leaders from various sectors, including the Industrial Development Promotion Center of the Ministry of Industry and Information Technology and the Shanghai Science and Technology Commission.
Next news: Ethereum briefly fell below $3,500, down 3.22% in 24 hours. According to BlockBeats news, on April 1, according to OKX market data, Ethereum fell below $3,500 for a short time and is now quoted at $3,508, a 24-hour drop of 3.22%. Ethereum's price recently dropped below $3.6K again, despite a brief recovery above this mark. The number of Ethereum addresses with non-zero balances continues to rise, indicating increased investor interest. However, the increase in Ethereum's supply on exchanges suggests higher selling pressure. Data from CryptoQuant shows a high net deposit on exchanges, indicating that investors are selling ETH. Despite this, the supply held by top addresses has increased, showing some confidence among whales. Ethereum's network-to-value ratio suggests the asset might be overvalued, hinting at a possible price correction. Technical analysis of Ethereum's daily chart shows a downward trend in its Relative Strength Index (RSI) and Chaikin Money Flow (CMF), with Bollinger Bands indicating a less volatile price movement ahead.
Next news: The crypto market is currently in a calm state, with Bitcoin maintaining its stability at a $70,000 price point as the community anticipates the upcoming Bitcoin halving event. This event, which reduces the reward for mining new blocks by half, is closely watched by investors and enthusiasts alike, as it has historically led to significant changes in Bitcoin's value. Bitcoin, the world's leading cryptocurrency, continues its sideways movement below the $70,000 level today, maintaining the volatility pattern observed over the past few days. In the morning hours, Bitcoin's price dropped by approximately 1% to $68,800, while Ethereum, the second-largest cryptocurrency by market cap, also experienced a 1.8% decrease to $3,500. Market analysts, including Justin D'Anethan of Keyrock and Lucy Hu of Metalpha, commented on the current market conditions, noting a lack of clear catalysts for price movements and a trading range between $69,000 and $71,000. As the Bitcoin halving event approaches, speculation about its potential impact on the market is increasing. D'Anethan highlighted the historical trend of a price drop immediately following halvings, followed by sustained rises, but cautioned about predicting market behavior during an ongoing bull run. He also mentioned the influence of Bitcoin spot exchange-traded funds (ETFs) on American exchanges as a factor affecting market dynamics.
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.