SoSo Daily Apr 13

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on April 13, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.46 trillion US dollars, witnessing a decrease of 6.64% compared to the previous day; the total trading volume is 139.85 billion US dollars, marking an increase of 78.7% from the previous day.

According to sosovalue, the price of $BTC is 67,364 USD, a decrease of 4.99% from yesterday. The market cap of $BTC is 1.33 trillion USD, accounting for 54% of the total market cap; $BTC's 24-hour trading volume is 30.12 billion USD, making up 21.5% of the total trading volume.
The price of $ETH is 3,268.2 USD, down 7.47% from yesterday; the market cap of $ETH is 392.42 billion USD, representing 16% of the total market cap; $ETH's 24-hour trading volume is 14.67 billion USD, comprising 10.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 70% of the total cryptocurrency market cap, and their combined trading volumes constitute 32% 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 11:55, according to the latest data, the top five gainers are:
Top 1 gainer is Ferro. As of 11:55 today, its market cap is 28.72M, with a coin price of 0.024496 USD, witnessing a 24-hour increase of 155%.
The second is Prism. As of 11:55 today, its coin price is 0.0034820 USD, with a 24-hour increase of 31.8%.
The third is MATH. As of 11:55 today, its coin price is 0.61012 USD, showing a 24-hour increase of 26.5%.
In fourth place is Strips Finance. As of 11:55 today, its coin price is 1.0948 USD, with a 24-hour rise of 24%.
In fifth place is Wagmi. As of 11:55 today, its coin price is 0.017182 USD, increasing by 21.7% 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, DePIN sector has fallen by 14.7% relative to the UTC 0 time, led by declines in lamb (-24.1%), glm (-21.1%), and AVIVE (-20.7%).
NFT sector has decreased by 15.3% relative to UTC 0, with looks (-26.6%), TNSR (-26.3%), and taboo (-24.4%) leading the decline.
GameFi sector has fallen by 15.8%, with bigtime (-29.5%), starl (-25.5%), and ACE (-25.3%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Hong Kong is expected to approve spot Bitcoin and Ethereum exchange-traded funds (ETFs) as early as next week. The approvals are pending from the Securities and Futures Commission (SFC) and Hong Kong Exchanges & Clearing Ltd. The ETFs are expected to launch by the end of the month, pending finalizing listing details. The approval process has reportedly been accelerated to meet the growing demand for crypto investment products. This move comes after the launch of spot Bitcoin ETFs in the US, which has sparked a revival in crypto markets.
Next news: A former security engineer, Shakeeb Ahmed, was sentenced to three years in prison for hacking two decentralized cryptocurrency exchanges and stealing over $12 million in cryptocurrency. This marks the first-ever conviction for hacking a smart contract. Ahmed used false pricing data to attack a cryptocurrency exchange, stealing about $9 million, and exploited a vulnerability in Nirvana Finance's smart contract to steal almost all of its $3.6 million in funds. He laundered the money through various techniques and was ordered to forfeit approximately $12.3 million and a large amount of cryptocurrency, as well as pay over $5 million in compensation to the two exchanges. Ahmed pleaded guilty to the charges, including wire fraud and money laundering, and expressed remorse in court, stating he had lost his way and turned to crypto during the pandemic.
Next news: The upcoming Bitcoin halving event, scheduled for April 20, 2024, is expected to have a significant impact on the cryptocurrency market. The halving will reduce the block reward from 6.25 $BTC to 3.125 $BTC, potentially leading to price increases. Bitcoin whales are accumulating $BTC ahead of the halving, indicating a bullish sentiment. However, some analysts believe that the halving may already be priced in due to the approval of spot Bitcoin ETFs and the influx of institutional capital into the market. Miners are preparing for the halving by focusing on low-cost operations and strategic expansions. The long-term outlook for Bitcoin remains positive, with its role as a digital gold and a hedge against inflation being reinforced by halving events and evolving market dynamics.
Next news: Berachain, a Layer1 public blockchain, has successfully completed a $100 million Series B financing round. The round was led by Brevan Howard Digital's Abu Dhabi branch and Framework Ventures. Other participants in the financing included Polychain Capital, Hack VC, and Tribe Capital. The investors supported Berachain through a Simple Agreement for Future Tokens (SAFT). Community-driven Layer1 Berachain's Series B financing scale has increased to $100 million, led by Brevan Howard Digital and Framework Ventures, with participation from Polychain Capital, Hack VC and Tribe Capital. The funds will be used for international expansion. Berachain, a blockchain platform initiated by pseudonymous founders with bear-themed nicknames, has successfully raised $100 million in its Series B funding round, marking a 45% increase from previously reported figures. The funding round was co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures, with participation from Polychain Capital, Hack VC, and Tribe Capital, among others. The investment was made through a SAFT (Simple Agreement for Future Tokens). Last month, Bloomberg reported that Berachain was raising more than $69 million at a valuation of at least $1 billion, though the firm has not provided an updated valuation.
Next news: Coinbase will file an interlocutory appeal in the SEC case. In its motion, Coinbase will appeal whether the U.S. SEC has the authority to treat digital asset transactions as investment contracts. If the case is allowed to appeal, the original trial proceedings will be suspended until the Second Circuit Court decides.
Next news: The price of Bitcoin has experienced a sudden decline, falling below $68,000 after previously being above $71,000, losing over 5% of its value. This drop is attributed to the tension between Israel and Iran, with geopolitical tensions escalating recently. The Bitcoin market saw a significant liquidation event, with $210 million liquidated in the last hour, primarily in long positions. The total crypto market cap lost over $200 billion in a few hours. Bitcoin's price failed to overcome the $71,000 level decisively, and the subsequent rejection pushed the asset south hard, dumping to around $65,000. Altcoins have suffered even more, with numerous double-digit losses from various cryptocurrencies. Ethereum has shed 8% of its value and has plummeted to $3,230. Overleveraged traders have felt massive price fluctuations as the liquidations have skyrocketed to almost $500 million in the past hour alone. Almost 300,000 traders have been wiped out in the past day. Bitcoin's price dropped from over $71,000 to $65,086, losing approximately 8% of its value. Altcoins also suffered, with Ethereum, BNB, Solana, XRP, Dogecoin, and Cardano recording losses in the last hour. Bitcoin's price falls to $65K as $400M crypto market liquidation rocks $BTC and altcoins. The cryptocurrency market experienced a significant downturn on April 12, with Bitcoin ($BTC) seeing a sudden 5% drop in price, leading to over $400 million in losses for traders with leveraged positions in Bitcoin and other cryptocurrencies. This sharp sell-off was triggered by a flash crash in late New York session trading hours, with Ether ($ETH) also experiencing an 8% fall. The liquidation affected more than 270,993 traders, with the most significant losses occurring on Binance and OKX exchanges. Bitcoin's significant drop triggered a cascade of liquidations in bullish crypto bets, leading to a rout in smaller digital assets like Solana, Cardano, and Polkadot. Data from CoinGlass shows about $780 million worth of bullish crypto wagers were liquidated in the past 24 hours, marking the largest drop in a month. In the last 24 hours, the cryptocurrency market has experienced significant downturns, leading to $783 million in long liquidations. The exact causes of these corrections remain uncertain, but traders have noted parallels with past market cycles.
Next news: BlackRock reported a record $10.5 trillion in assets under management (AUM) for Q1 2024, marking a significant increase from the previous year. The company's diluted earnings per share (EPS) also saw a rise, from $7.9 million in Q1 2023 to $9.81 million in Q1 2024, attributed to higher non-operating income and a lower effective tax rate. Net income increased from $1.2 billion last year to approximately $1.5 billion. The firm managed $76 billion of quarterly long-term net inflows, nearly 40% of the full-year 2023 levels. CEO Larry Fink highlighted BlackRock's momentum and growth potential in infrastructure, technology, retirement, and whole portfolio solutions. BlackRock, a major Bitcoin investor, operates the world's largest Bitcoin exchange-traded fund, the Spot iShares Bitcoin Trust (IBIT), which accumulated 266,580 $BTC worth $18.5 billion since starting trading in January 2024.
Next news: Bitcoin's price movements from April 7 to April 13, including brief surges, rebounds, and falls, with fluctuations above and below $70,000 and $71,000.
Next news: Grayscale's GBTC experienced significant outflows, while other Bitcoin ETFs recorded inflows. The total net outflows from Bitcoin spot ETFs were $223 million, with GBTC accounting for $303 million. Despite this, U.S. Bitcoin ETFs received nearly $1 billion in inflows over the past week. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity Investments' Wise Origin Bitcoin Fund (FBTC) maintained their inflow streak. Bitcoin's price fell below $70,000, marking a 4.3% drop from the previous day's high. Analysts expressed surprise at the ETF outflows, especially given Bitcoin's price action. Grayscale's GBTC recorded a net outflow of $17.5 million, setting a record low. Fidelity FBTC had a net inflow of $76.3 million, and the ETF as a whole had a net inflow of $90.4 million. US Bitcoin spot ETFs saw a net inflow of $124 million. On-chain data analyst Yu Jin expects a net inflow of about 1,295 $BTC into the ETF custody address after the U.S. stock market opens tonight. Bitcoin remains stable near $71,000 as outflows from the Grayscale Bitcoin Trust (GBTC) resume. Grayscale's GBTC had a net outflow of $166 million, while BlackRock iBit had a net inflow of $111 million.
Next news: Hong Kong's Bitcoin Spot ETF Set to Launch, SEC to Sue Uniswap, Tether Reports Annual Net Profit of $6.2 Billion and Top10 News

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.