As of 11:59 AM on April 18, 2024, the total market cap of the crypto market is 2.29 trillion US dollars, experiencing a decrease of 0.0903% compared to the previous day. The 24-hour trading volume is 103.13 billion US dollars, showing an increase of 18.5% from the previous day.
According to sosovalue, the price of $BTC is 62,606 USD, an increase of 0.0167% from yesterday. The market cap of $BTC is 1.23 trillion USD, accounting for 53.9% of the total market cap; $BTC's 24-hour trading volume is 42.16 billion USD, making up 40.9% of the total trading volume.
The price of $ETH is 3,047.2 USD, up 0.231% from yesterday; the market cap of $ETH is 365.88 billion USD, representing 16% of the total market cap; $ETH's 24-hour trading volume is 19.72 billion USD, comprising 19.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 60% 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 Metaverse.Network Pioneer (NEER). As of 11:55 today, its market cap is 3.76M, with a coin price of 0.0989 USD, witnessing a 24-hour increase of 32.6%.
The second is Vara Network (VARA). As of 11:55 today, its coin price is 0.11922 USD, with a 24-hour increase of 30.6%.
The third is Cashaa (CAS). As of 11:55 today, its coin price is 0.004435 USD, showing a 24-hour increase of 28.4%.
In fourth place is Orbcity (ORB). As of 11:55 today, its coin price is 0.05925 USD, with a 24-hour rise of 23.6%.
In fifth place is Agility (AGILITY). As of 11:55 today, its coin price is 0.004905 USD, increasing by 23.4% 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, Payment sector has risen 2.44% relative to the UTC 0 time, led by gains in xno (6.69%), twt (5.21%), and ach (5.1%).
CeFi sector has increased 2.07% relative to UTC 0, with qash (9.87%), ngc (9.26%), and wrx (8.17%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: 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 been experiencing net outflows in recent days, coinciding with a stall in Bitcoin's price uptrend. The Grayscale Bitcoin Trust ETF (GBTC) has seen the most significant outflows, while other leading funds like BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have had positive inflows. This shift in investor sentiment suggests increased caution and profit-taking amidst Bitcoin's price volatility and a slowdown in its positive momentum.
Next news: Binance has converted its billion-dollar Secure Asset Fund for Users (SAFU) into USDC, a stablecoin issued by US firm Circle Internet Financial. The fund, established in 2018, acts as a backstop for customers in extreme situations. The conversion involves transferring assets from $BTC, BNB, USDT, and TUSD to USDC, marking a significant move in the management of the emergency fund for users. This shift represents a strategic response to the evolving regulatory and market landscape, with potential impacts on the crypto market and the position of USDC against competitors like USDT.
Next news: Bitcoin's price movements from April 14 to April 18, 2021, based on OKX market data reported by BlockBeats.
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: MARKET NEWS: BINANCE IS READY TO PAY A FINE OF ABOUT $2 MILLION TO RETURN TO THE INDIAN MARKET
ACCORDING TO BLOCKBEATS, ON APRIL 18, ACCORDING TO MARKET NEWS, BINANCE IS READY TO PAY A FINE OF ABOUT $2 MILLION TO RETURN TO THE INDIAN MARKET. (JINSHI)
ACCORDING TO BLOCKBEATS, ON APRIL 18, ACCORDING TO MARKET NEWS, BINANCE IS READY TO PAY A FINE OF ABOUT $2 MILLION TO RETURN TO THE INDIAN MARKET. (JINSHI)
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: JPMorgan suggests that Bitcoin's recent outperformance might indicate that some of the expected gains from the upcoming reward halving have already been realized. Additionally, the firm points out that the recent weakness in Bitcoin mining stocks presents an attractive investment opportunity ahead of the halving event. JP Morgan analysts have suggested that Bitcoin's significant performance improvement ahead of the halving event might indicate that the expected post-halving rally has already occurred. They highlighted Bitcoin's 43% gain since the start of the year and a 130% increase over the last six months as evidence of this advanced rally. Additionally, they pointed out the current weakness in mining stocks as an attractive investment opportunity, particularly recommending Riot Platforms (RIOT) and Iris Energy (IREN) for bullish investors. The analysts expect increased volatility and trading volume in both Bitcoin and mining stocks as the halving event approaches. However, they clarified that their analysis should not be considered as investment advice. JPMorgan Chase (JPM) released a research report indicating that Bitcoin ($BTC) might face a price decline after the upcoming halving event, expected around April 19-20. The halving, which occurs every four years, reduces the rate at which new bitcoins are generated, potentially slowing the supply growth. JPMorgan's analysis, based on Bitcoin futures positions, suggests that the cryptocurrency is currently overbought, posing downside risks post-halving. Additionally, Bitcoin's current price of approximately $61,200 exceeds JPMorgan's volatility-adjusted comparative value for gold, set at $45,000, and its estimated production cost of $42,000 post-halving, indicating that production costs have historically been a lower limit for Bitcoin prices.
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.