Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on April 18, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing a decrease of 3.37% compared to yesterday; the total trading volume is 97.55 billion US dollars, marking an increase of 2.08% from the previous day.
According to sosovalue, the price of $BTC is 61,040 USD, a decrease of 4.52% from yesterday. The market cap of $BTC is 1.20 trillion USD, accounting for 53.4% of the total market cap; $BTC's 24-hour trading volume is 42.16 billion USD, making up 43.2% of the total trading volume.
The price of $ETH is 2,982.4 USD, down 3.44% from yesterday; the market cap of $ETH is 358.10 billion USD, representing 15.9% of the total market cap; $ETH's 24-hour trading volume is 19.72 billion USD, comprising 20.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 63.4% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Agility. As of 05:55 today, its market cap is 0E-8, with a coin price of 0.0049480 USD, witnessing a 24-hour increase of 32.6%.
The second is Orbcity. As of 05:55 today, its coin price is 0.051800 USD, with a 24-hour increase of 31.4%.
The third is Vara Network. As of 05:55 today, its coin price is 0.11242 USD, showing a 24-hour increase of 22.9%.
In fourth place is Aavegotchi. As of 05:55 today, its coin price is 2.1120 USD, with a 24-hour rise of 22.2%.
In fifth place is Metaverse.Network Pioneer. As of 05:55 today, its coin price is 0.093400 USD, increasing by 21.9% 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, 1 is up and 15 are down. Notably, AI sector has fallen by -4.93% relative to the UTC 0 time, led by declines in nos (-12.8%), tao (-9.2%), and dsla (-8.9%).
Meme sector has fallen by -5.16% relative to UTC 0, with DEGEN (-13%), wif (-10.9%), and mog (-9.72%) leading the decline.
SocialFi sector has fallen by -7.69%, with gal (-12.7%), ton (-8.65%), and cos (-7.92%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Worldcoin, founded by OpenAI CEO Sam Altman, launches World Chain, a new 'human-centric' blockchain network designed to prioritize human users, enhance efficiency, and foster real-world utility in Web3 applications. World Chain aims to address the issue of blockchain congestion caused by bots by prioritizing transactions for verified World ID holders, offering them a free gas allowance to reduce friction for newcomers. The network, which recently surpassed 10 million World IDs and 75 million transactions, is designed to scale alongside the Ethereum network as a Layer 2 solution. Worldcoin anticipates a full launch in the summer, following a series of changes including tightening privacy checks and making its Orb software open-source. The project has faced scrutiny from world governments over its privacy practices, leading to temporary bans in some countries.
Next news: US spot Bitcoin ETFs have experienced net outflows in recent days, coinciding with a stall in Bitcoin's price uptrend. The Grayscale Bitcoin Trust ETF (GBTC) has seen significant outflows, while other leading funds like BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have recorded inflows. Ethereum-based funds, on the other hand, have experienced outflows due to price declines and uncertainty surrounding a potential Ethereum ETF. Overall, the market volatility and geopolitical events have led to increased investor caution and profit-taking.
Next news: A whale increased its holdings by 3,278 $ETH at an average price of $3,050, and now holds more than 86,000 ETH. According to BlockBeats, on April 17, according to @EmberCN monitoring, 40 minutes ago, the whale who had been withdrawing $ETH and stablecoins from Binance recently spent 10 million USDT on the chain to buy 3,278 $ETH, with an average price of $3,050. The whale has been withdrawing $ETH and stablecoins from Binance since April 1, and has withdrawn 69,388 $ETH and 265.8 million stablecoins from Binance so far; On April 14, 70 million USDC was used to buy 23,790 $ETH on the chain (but 10,000 of them were sold more than ten hours later for a profit of $1.15 million); The whale currently holds 86,457 $ETH (about $262 million), with an average price of $3,170; and 217 million stablecoins.
Next news: Bitcoin is facing pressure and volatility in the cryptocurrency market, impacting altcoins as well. The market has experienced significant fluctuations due to geopolitical tensions, market selloffs, and potential corrections. Bitcoin's struggle to sustain a relief rally and the impact of Bitcoin halving on miners are key factors affecting market sentiment. Ethereum and other altcoins have also faced resistance and support levels, contributing to a mixed market sentiment. The market has seen recovery and downturns, with Bitcoin dropping below $60,000 and then rebounding. The total crypto market cap has fluctuated significantly, impacting both Bitcoin and altcoins.
Next news: Binance announced on April 18 that it would convert the entire User Asset Protection Fund (SAFU) to USDC, a move aimed at enhancing the fund's reliability and ensuring its stability at $1 billion. The SAFU fund, established in 2018 as an emergency insurance fund to protect Binance users in extreme situations, is a key component that distinguishes Binance from other trading platforms. Despite fluctuations, the fund's level is generally maintained at $1 billion. The SAFU funds are now visible at a specific USDC address.
Next news: Kraken launches self-custodial wallet “Kraken Wallet”
According to BlockBeats, on April 17, the crypto trading platform Kraken launched the self-hosted wallet "Kraken Wallet", which will initially support eight blockchains, including Bitcoin, Ethereum, Solana, Optimism, Base, Arbitrum, Polygon, and Dogecoin.
Kraken said that the wallet is an open source wallet and developers can access and contribute to the code. Kraken will also issue rewards to developers who discover vulnerabilities through the open source funding program.
Next news: Crypto prime broker Hidden Road Partners is raising Series B equity funding at a $1 billion valuation. According to BlockBeats, on April 17, Bloomberg reported, citing sources, that Hidden Road Partners, a prime broker specializing in cryptocurrencies and foreign exchange, is raising a Series B equity financing, which will bring its valuation to around $1 billion, and the scale of this round of financing is expected to reach about $120 million. Hidden Road Partners was founded in 2018 by Marc Asch, who worked at hedge fund billionaire Steven Cohen's company SAC Capital and Point72 Asset Management. Hidden Road completed a $50 million financing in 2022. Hidden Road provides prime brokerage services for a variety of markets, including foreign exchange, precious metals, and digital assets.
Next news: According to a research report by Bernstein, investors are advised to buy stocks of crypto mining companies like Riot Platforms (RIOT) and CleanSpark (CLSK) before the Bitcoin halving event. The report highlights the 'miner fear factor' at its peak due to concerns over profitability post-halving, as rewards are cut by 50%. Analysts Gautam Chhugani and Mahika Sapra suggest that historically, Bitcoin prices surge after halving events, indicating a potential bullish trajectory for Bitcoin and related stocks once the market adjusts.
Next news: ByteDance's enterprise technology arm, BytePlus, is partnering with Mysten Labs to integrate advanced AI algorithms and data warehousing technology into the Sui blockchain ecosystem. This strategic partnership aims to leverage BytePlus's expertise in AI and data warehousing to enhance the Sui ecosystem, with a focus on Web3 gaming and SocialFi projects. The collaboration will involve integrating ByteHouse, BytePlus's cloud-native data warehouse, with Sui's full-node data to potentially boost Sui's analytics capabilities, enabling infinite scalability and real-time data processing. This partnership is part of ByteDance's broader move into Web3, marking its continued exploration of blockchain and AI technologies. Previously, ByteDance has engaged in various Web3-related initiatives, including a joint venture with a state-owned Chinese media group in 2019 and seeking a virtual banking license in Singapore in 2020. Sui, developed by Mysten Labs, is a newer layer-1 network that has seen rapid development and partnerships, including with a university in the UAE for a blockchain academy and the Greek stock exchange for a new fundraising mechanism.
Next news: US Senators Kirsten Gillibrand and Cynthia Lummis proposed a stablecoin bill on April 17, according to The Block. The bill mandates stablecoin issuers to maintain a one-to-one cash or cash equivalent reserve, bans unbacked algorithmic stablecoins, and prohibits the use of stablecoins for illegal activities such as money laundering. It also aims to establish a federal and state regulatory system for stablecoin issuers, allowing both federal and state entities to charter and enforce stablecoins.
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.