SoSo Daily Apr 16

As of 5:59 PM on April 16, 2024, the total market cap of the crypto market is 2.29 trillion US dollars, showing a decrease of 1.52% compared to the previous day. The total trading volume is 112.81 billion US dollars, indicating a decline of 2.71% from the previous day.

According to sosovalue, the price of $BTC is 62,458 USD, a decrease of 2.27% from yesterday. The market cap of $BTC is 1.23 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 42.80 billion USD, making up 37.9% of the total trading volume.
The price of $ETH is 3,040.5 USD, down 2.41% from yesterday; the market cap of $ETH is 365.07 billion USD, representing 16% of the total market cap; $ETH's 24-hour trading volume is 23.41 billion USD, comprising 20.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 58.6% 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 HyperCash. As of 17:55 today, its market cap is 0E-8, with a coin price of 0.049540, witnessing a 24-hour increase of 37.6%.
The second is Santos FC Fan Token. As of 17:55 today, its coin price is 6.6070, with a 24-hour increase of 28%.
The third is Silly Dragon. As of 17:55 today, its coin price is 0.019500, showing a 24-hour increase of 26.3%.
In fourth place is Taraxa. As of 17:55 today, its coin price is 0.0099900, with a 24-hour rise of 22.1%.
In fifth place is HXRO. As of 17:55 today, its coin price is 0.090129, increasing by 20.3% 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, RWA sector has fallen -4.09% relative to the UTC 0 time, led by declines in cpool (-13.2%), nxra (-12.5%), and ondo (-10.5%).
AI sector has fallen -5.81% relative to UTC 0, with dsla (-14.3%), heart (-14.2%), and tao (-13.4%) leading the decline.
SocialFi sector has fallen -7.74%, with berry (-15.3%), xtm (-14.2%), and deso (-12.9%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:US spot Bitcoin ETFs experienced net outflows last week, marking a rare occurrence since their market debut three months ago. The 11-fund category saw $83 million in assets leave, contrasting with the $485 million in net inflows the previous week. This shift comes as Bitcoin's price uptrend stalls, with the cryptocurrency's value dropping approximately 5% to $65,650 by the end of the week. The Grayscale Bitcoin Trust ETF (GBTC) faced the most significant outflows, with $767 million departing. Despite positive inflows to other leading funds like BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC), they could not offset GBTC's outflows. The sector has welcomed $12.5 billion in positive flows since January, but recent outflows signal increased investor caution and profit-taking, amid a backdrop of Bitcoin's price volatility and a slowdown in its positive momentum.
Next news: Hong Kong is set to approve spot Bitcoin and Ethereum ETFs, potentially as early as next Monday. The approvals are pending from the SFC and Hong Kong Exchanges & Clearing Ltd. with finalizing listing details, aiming to launch the ETFs by the end of the month. The timetable is not fixed and may be subject to last-minute changes. The development of the ETFs has been completed by the fund issuers working with HashKey, and it has now entered the integration and functional testing stage. Livio Weng, CEO of HashKey Exchange, did not disclose the asset management company they are working with. The international arm of Chinese asset manager Harvest Fund Management Co. and Bosera Asset Management (International) Co. and Hashkey Capital are among the issuers expected to gain approval for both types of spot-to-crypto ETFs. The launch of spot Bitcoin ETFs in the US on January 11 has sparked a revival in crypto markets this year, with the 11 ETFs amassing nearly $59 billion in assets and pushing the $BTC price to a record high of $73,798 in mid-March.
Next news: The upcoming Bitcoin halving event, expected to occur around April 19, 2024, is anticipated to significantly transform the cryptocurrency landscape. This event will halve the block reward from 6.25 $BTC to 3.125 $BTC, aiming to create a more stringent supply landscape as part of Bitcoin's deflationary approach. Historically, halving events have led to substantial price surges in Bitcoin, with the upcoming halving expected to potentially set new all-time highs. The approval of spot Bitcoin ETFs and the influx of institutional capital into the market have also significantly impacted the demand for Bitcoin, potentially exacerbating the effects of the halving. Additionally, the emergence of a robust derivatives market and shifts in miner behavior suggest a changing dynamic in the Bitcoin ecosystem. 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: Bitcoin's price has been fluctuating between $62,000 and $66,000 in the past few days. On April 14, Bitcoin recovered above $64,000, but fell below $64,000 again on the same day. However, on April 15, Bitcoin rebounded above $65,000 with a 1.45% increase in 24 hours and surpassed $66,000 with a 2.91% increase. The price briefly dipped below $66,000 and $65,000 on April 15. On April 16, Bitcoin fell below $64,000, $63,000, and $62,000 at different times, experiencing drops of 0.24%, 3.35%, and 4.32% respectively. It also briefly rebounded above $63,000 on the same day but fell below $62,000 again with a 6.55% drop.
Next news: Puffer Finance, a liquid staking project on Ethereum, has raised $18 million in a Series A funding round led by Brevan Howard Digital and Electric Capital, with contributions from Coinbase Ventures, Kraken Ventures, Lemniscap, Franklin Templeton, Fidelity, Mechanism, Lightspeed Faction, ConsenSys, Animoca, GSR, and other angel investors. The project's total value locked (TVL) surpassed $1 billion within one month of its testnet launch. Puffer Finance aims to reduce the barriers for home validators by allowing Ethereum validators to stake with as little as 1 Ether, down from the standard 32 Ether. Users who stake Ether through Puffer receive Puffer liquid restaking tokens (NLRTs), which can be used in other DeFi protocols. The protocol has raised a total of $23.5 million in venture capital funding to date. Following the funding round, Puffer secured a strategic investment from Binance Labs, enhancing its position within the liquid restaking ecosystem. Liquid staking, a practice long utilized by other blockchains like Cosmos, has gained traction on Ethereum following the Merge upgrade. Eigenlayer, the protocol on which Puffer Finance is built, has seen significant growth, surpassing DeFi lending protocol Aave in TVL with $10.4 billion worth of crypto committed. Liquid staking protocols are the largest DeFi protocol category, with nearly $55 billion in locked value across about 160 protocols.
Next news: Binance.US has appointed Martin Grant, the former head of compliance at the Federal Reserve Bank of New York, as a member of its board of directors. Martin Grant, who has a 17-year tenure at the Federal Reserve Bank of New York where he served as Chief Compliance and Ethics Officer, currently holds the position of Head of Global Regulatory Affairs at JST Digital. Former NY Fed Compliance Chief, Martin Grant, has joined the board of directors at Binance US. Grant, who served as the New York Federal Reserve's Compliance and Ethics Officer until 2022, will oversee financial reporting processes and internal controls at Binance US. His addition is seen as a reflection of Binance US's commitment to maintaining high standards of compliance and integrity. This move comes amid regulatory challenges faced by Binance US and its parent company, Binance, including a lawsuit filed by the SEC alleging unregistered securities offerings and failure to register as an exchange. Additionally, a recent settlement with the Department of Justice requires Binance to allow DOJ teams to review its activities and be overseen by the Financial Crimes Enforcement Network. Binance's Chief Compliance Officer, Noah Perlman, views the settlement as an opportunity to uplift the company's compliance program.
Next news: According to Trust Wallet, a high-risk zero-day vulnerability in Apple's iMessage has been reported, allowing remote hacking of iPhones without user interaction. The vulnerability is being sold on the dark web, and Trust Wallet advises users to disable iMessage until Apple issues a security patch. The warning has faced skepticism from industry experts, but Trust Wallet emphasizes the severity of the threat. Apple has not yet commented on the exploit or released a mitigating update. The warning is part of a broader context of cyberattacks within the crypto space in 2024, highlighting the importance of heeding security advice to avoid becoming victims of cyber exploits.
Next news: Ethereum has experienced a significant price increase, surpassing the $3,200 milestone. After a major crash on April 12th, Ethereum's price has recovered by over 7% in the last 24 hours, indicating a potential bullish trend. On-chain metrics, such as a decrease in exchange reserve and increases in active addresses and transaction count, suggest reduced selling pressure and the possibility of continued price growth. Ethereum is currently trading at $3,211 and could reach future targets of $3.34K, $3.6K, or even $3.8K. However, on April 16th, Ethereum experienced a 4.03% drop, falling below $3,100.
Next news: Homium, a real estate equity mortgage and securitization platform, has completed a $10 million Series A financing round. The round was led by Sorenson Impact Group and the Avalanche ecosystem fund Blizzard. Homium aims to address housing affordability issues by releasing trapped home equity. It also offers investable assets to institutional investors through digital securities backed by homeowners' equity. The company has issued its first batch of home equity loans on Avalanche.
Next news: According to BlockBeats, on April 16, according to Blur data, the floor price of Bored Ape Yacht Club (BAYC) fell below 11 $ETH and is now reported at 10.899 $ETH, down 12.08% in 7 days, the lowest data since August 2021. The Bored Ape Yacht Club (BAYC) NFT collection's floor price has plummeted over 90% from its peak, now standing at 11.1 Ether ($ETH), marking its lowest point since August 2021. This significant drop is part of a broader industry-wide decline in the popularity of digital art NFTs. Despite this, some BAYC NFTs have continued to sell for significantly above the floor price, with one selling for 504.3 $ETH ($1.92 million) last month. The largest NFT collection by market cap, CryptoPunks, has also seen a decline but only by 64% from its peak. Industry experts suggest that for digital art NFTs to recover, they may need to integrate with other blockchain verticals, leveraging NFTs as a "superpower" for projects with clear visions and established communities.

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.