Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM on April 30, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing a decrease of 2.58% compared to the previous 24 hours; the total trading volume is 72.92 billion US dollars, marking an increase of 23.9% from the previous day.
According to sosovalue, the price of $BTC is 60,369 USD, a decrease of 4.23% from yesterday. The market cap of $BTC is 1.19T USD, accounting for 52.9% of the total market cap; $BTC's 24-hour trading volume is 16.18B USD, making up 22.2% of the total trading volume.
The price of $ETH is 2,985.3 USD, down 5.94% from yesterday; the market cap of $ETH is 364.37B USD, representing 16.2% of the total market cap; $ETH's 24-hour trading volume is 10.79B USD, comprising 14.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 37% 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, according to the latest data, the top five gainers are:
Top 1 gainer is FLEX Coin. As of 17:55 today, its market cap is 27.13M, with a coin price of 0.27502 USD, witnessing a 24-hour increase of 101%.
The second is DSLA Protocol. As of 17:55 today, its coin price is 0.00078740 USD, with a 24-hour increase of 25.7%.
The third is Helium. As of 17:55 today, its coin price is 4.1690 USD, showing a 24-hour increase of 20%.
In fourth place is Satoxcoin. As of 17:55 today, its coin price is 0.00041810 USD, with a 24-hour rise of 19.9%.
In fifth place is WeSendit. As of 17:55 today, its coin price is 0.012270 USD, increasing by 16.7% 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, AI sector has fallen 7.62% relative to the UTC 0 time, led by declines in moov (-13.7%), clore (-13.4%), and agi (-10.3%).
Meme sector has decreased 7.65% relative to UTC 0, with dog (-62.5%) leading the drop.
GameFi sector has fallen 7.88%, with combo (-19.6%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:On April 30, spot Bitcoin and Ethereum ETFs began trading in Hong Kong, leading to Huaxia Bitcoin (03042.HK), Harvest Bitcoin (03439.HK), and Boshi Bitcoin (03008.HK) all rising by more than 3% in early trading. Hong Kong's new Bitcoin and Ethereum ETFs are set to begin trading, with expectations to surpass the US's initial ETF scale. Three Bitcoin and Ethereum spot ETFs in Hong Kong have officially started trading now. Non-Hong Kong residents can also subscribe or purchase ETF products if they meet local regulatory requirements, such as passing customer due diligence. The first six Bitcoin and Ethereum spot ETFs launched in Hong Kong had a total transaction volume of over HK$49 million as of noon close on April 30. The transaction amounts for each ETF were as follows: Huaxia Bitcoin ETF (3042.HK) reached HK$22.98 million; Huaxia Ethereum ETF (3046.HK) reached HK$11.03 million; Harvest Bitcoin Spot ETF (3439.HK) reached HK$8.12 million; Boshi Hashkey Bitcoin ETF (3008.HK) had a transaction amount of approximately HK$3.6 million; Harvest Ethereum Spot ETF (3179.HK) reached HK$2.186 million; Boshi Hashkey Ethereum ETF (3009.HK) reached HK$1.537 million. Crypto investing entered a new phase Tuesday after Hong Kong debuted exchange-traded funds that invest directly in Bitcoin and Ether. The move comes after the US launched spot-Bitcoin ETFs in January, which have attracted $53 billion of assets so far in an historic rollout. On April 30, the first batch of six Bitcoin and Ethereum spot ETFs launched in Hong Kong, trading a total of about HK$87.58 million on their first day of listing. The ETFs included Huaxia Bitcoin ETF (3042.HK) with HK$37.16 million, Huaxia Ethereum ETF (3046.HK) with HK$12.66 million, Harvest Bitcoin Spot ETF (3439.HK) with HK$17.89 million, Boshi Hashkey Bitcoin ETF (3008.HK) with approximately HK$12.44 million, Harvest Ethereum Spot ETF (3179.HK) with HK$4.95 million, and Boshi Hashkey Ethereum ETF (3009.HK) with HK$2.48 million. Bitcoin and Ethereum spot ETFs began trading in Hong Kong, marking a significant event in the cryptocurrency market. However, the first-day trading volumes were significantly lower than those recorded in the United States in January 2024. The six new crypto ETFs in Hong Kong managed to hit $12 million in trading volume, a figure that pales in comparison to the $4.6 billion first-day trading volume of U.S. Bitcoin ETFs. The trading volumes of individual ETFs varied, with the China Asset Management (CAM) Bitcoin ETF performing the best among them, recording HK$4.6 million in trading volume. Despite the lower than expected trading volumes, the launch of these ETFs in Hong Kong was a milestone, following the approval to start trading on April 30. The initial offering period for CAM's Bitcoin and Ethereum spot ETFs attracted $140 million, indicating significant investor interest. Additionally, the Hong Kong Stock Exchange (HKEX) had previously seen success with its cryptocurrency futures ETFs, which attracted $529 million in net inflows in the first quarter of 2024. This story is still developing, and further information will be added as it becomes available.
Next news: Bitcoin's price fluctuates around $63,000 as the market anticipates the debut of Hong Kong's first spot crypto ETF. Despite the subdued excitement, an executive from one of the issuing companies expects the initial issuance in Hong Kong to surpass that of the U.S. launch in January. Hong Kong ETF issuer expressed confidence that the issuance scale of the HK cryptocurrency spot ETF on the first day of listing tomorrow will exceed the first day of the United States (US$125 million). Many investors in Singapore, the Middle East and other places are very interested in crypto subscription. Bitcoin's price struggles to maintain the $63K support as analysts warn of a complacent market despite the excitement over new Bitcoin ETFs launching in Hong Kong. The ETFs mark a significant moment for the cryptocurrency in Asia, potentially signaling a shift in the region's stance towards Bitcoin. However, the overall market conditions remain uncertain, with factors such as the upcoming Federal Reserve decision on interest rates and mixed signals from funding rates indicating a market unsure of its next direction. The situation is further complicated by macroeconomic developments and the potential for increased speculation in altcoins. Hong Kong's debut of six new spot Bitcoin and Ethereum exchange-traded funds (ETFs) saw a trading volume of HK$87.5 million ($11.2 million), significantly below the inaugural trading of 11 spot Bitcoin ETFs in the U.S., which achieved $4.6 billion. Meanwhile, Bitcoin's price dropped below $61,000, marking a 2.3% decline within the last 24 hours and an 8% decrease over the past week. The performance and interest in these ETFs, managed by China Asset Management, Harvest Global, Bosera, and HashKey, were relatively low. The Bosera HashKey Bitcoin ETF recorded HK$249,000 in first-day trading volume, while the Bosera HashKey Ether ETF saw HK$99,000. The China Asset Management Bitcoin and Ether ETFs each had a trading volume of HK$4.6 million. Despite the introduction of these ETFs, the overall sentiment in the crypto market remains negative, with Bitcoin failing to sustain an earlier upward trend and the rest of the crypto market also experiencing a downturn. Bitcoin slips under $62K as Hong Kong ETFs disappoint. Asia's first spot Bitcoin and Ether ETFs debuted in Hong Kong with dismal trading volumes. Bitcoin's price drops to $62,000 as ETFs in Hong Kong underperform expectations. The latest price movements in Bitcoin and the broader crypto market are analyzed in the context of April 30, 2024, in CoinDesk's daily newsletter, First Mover. Bitcoin's price trajectory is rapidly heading back to $60,000 after hitting two-week lows around the April 30 Wall Street open, following disappointing performances from new spot price exchange-traded funds (ETFs) in Hong Kong. The cryptocurrency experienced a significant drop, losing $61,000 support, and saw liquidations totaling $275 million over 24 hours. The launch of Hong Kong's Bitcoin ETFs, which managed $12.4 million on the first day, fell below expectations despite a positive outlook from analysts. Market participants are now eyeing the $60,000 level and below for potential support, with the 50-day exponential moving average (EMA) and the $52,000 level highlighted as key areas. The market's 'buy on the dip' sentiment persists, but further drops could test lower support levels.
Next news: Alliance Resources, a NASDAQ-listed coal mining company, has ventured into Bitcoin mining and mined 425 Bitcoins using excess electricity. The company began Bitcoin mining as a pilot project in the second half of 2020 and has accumulated $30 million worth of Bitcoin. This move has contributed to net earnings of $7.3 million after accounting for property, facility, and equipment costs. ARLP's shares rose 5% following the earnings announcement, surpassing revenue estimates for the period. The company does not purchase Bitcoin but focuses on mining operations using existing equipment and rents excess capacity in its data center to other Bitcoin miners. ARLP's move into crypto mining represents a strategic approach to leveraging resources and exploring new revenue streams amid evolving market dynamics.
Next news: EigenLayer, a restaking protocol, is set to launch its native token, Eigen, with a total supply of 1.67 billion tokens. The token distribution includes 45% allocated to the community through stakedrops, community initiatives, and ecosystem development. Investors and early contributors have lock-up periods of three years for their allocations. EigenLayer introduces staking as community airdrops, distributing 15% of the token supply over multiple seasons, with the first season issuing 5% of the token supply based on staking activity. The tokens will be non-transferable initially to foster community consensus regarding the token’s utility and governance. Additionally, the project is introducing a new crypto-economic security system known as inter-subjective forking. The distribution calculation for stakers is linear, based on the amount of ether staked and the duration of the stake, with other factors like native restaking receiving an additional reward boost. The token requests will begin on May 10.
Next news: Bitcoin's value experiences fluctuations, falling below $62,000 and $63,000, with a 24-hour drop of 3.1% and 0.71% respectively. The monthly line may end its 7-day winning streak with a 13.45% decline in April.
Next news: According to SoSoValue, Bitcoin spot ETFs experienced a total net outflow of $51.53M on April 29th. Grayscale's ETF GBTC had a net outflow of $24.66M, while Bitwise's ETF BITB had a daily net inflow of $6.84M. Valkyrie's ETF BRRR had a daily net inflow of $2.67M. The total net asset value of Bitcoin spot ETFs stands at $52.21B, with the historical cumulative net inflow reaching $11.94B. Source: https://sosovalue.xyz/assets/etf
Next news: MicroStrategy bought another 122 $BTC($7.8M) at $63,934 in April.
#MicroStrategy currently holds 214,400 $BTC($13.22B), and the average buying price is $35,180.
At current prices, the profit is ~$5.68B!
Next news: Samourai Wallet co-founder, Keonne Rodriguez, has pleaded not guilty and was released on a $1 million bond. The terms of his bail specifically prevent him from engaging in any cryptocurrency transactions, directly or indirectly, without prior approval from the court.
Next news: Tether becomes the majority stakeholder in BlackRock Neurotech by investing $200 million, positioning itself as a significant player in the advancement of Brain-Computer Interface (BCI) technology for treating neurological conditions. This investment makes Tether a top rival of Elon Musk’s Neuralink in the neurotechnology space. Tether's investment in BlackRock Neurotech aims to fund the launch and commercialization of medical solutions, boost research and development efforts, and create a bridge between the brain and artificial intelligence computing. BlackRock Neurotech, founded in 2008, specializes in BCI technology for aiding individuals with paralysis, lost function, and neurological disorders, enabling patients to control devices with their thoughts. Tether's CEO Paolo Ardoino expressed the company's commitment to nurturing emerging technologies with transformative capabilities, highlighting the potential of BCI to open new realms of communication, rehabilitation, and cognitive enhancement.
Next news: Hong Kong has launched its first batch of virtual asset spot ETFs, including Bitcoin and Ethereum, which were officially listed on the Hong Kong Stock Exchange on April 30. The ETFs were issued by China Asset Management, Harvest Global Investments, and Bosera Asset Management. These ETFs are currently available only to Hong Kong residents, as mainland Chinese investors are not allowed to participate. However, industry experts and CEOs are optimistic that regulatory adjustments will be made to attract mainland Chinese investors in the future. The launch of these ETFs is seen as a significant move in the cryptocurrency market and is expected to open up investment opportunities for RMB holders.
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.