As of 11:59 PM on April 30, 2024, the total market cap of the crypto market is 2.25 trillion US dollars, experiencing a decrease of 2.58% in the last 24 hours. The total trading volume is 72.92 billion US dollars, showing an increase of 23.9% from the previous day.
According to sosovalue, the price of $BTC is 60,662 USD, a decrease of 5.02% from yesterday. The market cap of $BTC is 1.19T USD, accounting for 53.2% 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 3,014 USD, down 6.3% from yesterday; the market cap of $ETH is 367.88B USD, representing 16.4% 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 69.6% 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 23:55, the top five gainers are:
Top 1 gainer is FLEX Coin. As of 23:55 today, its market cap is 25.65M, with a coin price of 0.25994 USD, witnessing a 24-hour increase of 90.1%.
The second is DSLA Protocol. As of 23:55 today, its coin price is 0.00078740 USD, with a 24-hour increase of 25.7%.
The third is Helium. As of 23:55 today, its coin price is 4.1690 USD, showing a 24-hour increase of 20%.
In fourth place is WeSendit. As of 23:55 today, its coin price is 0.012440 USD, with a 24-hour rise of 15.4%.
In fifth place is CHEQD Network. As of 23:55 today, its coin price is 0.060870 USD, increasing by 12.7% 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, DeFi sector has fallen -6.99% relative to the UTC 0 time, led by declines in RAFT (-17.4%), gear (-16.9%), and rstk (-16.7%).
GameFi sector has fallen -7.13% relative to UTC 0, with combo (-20.5%), prime (-15.4%), and fyn (-14.8%) leading the decline.
Meme sector has fallen -8.01%, with dog (-63.5%), DEGEN (-19.9%), and ordi (-19.2%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Former Binance CEO Changpeng Zhao has been sentenced to four months in prison for money laundering violations in the U.S. This comes after years of investigations by U.S. authorities into the cryptocurrency exchange for various allegations, including unlicensed money transmission, money laundering conspiracy, and violations of anti-money laundering (AML) laws and sanctions. The investigations, led by agencies such as the DOJ, SEC, and CFTC, spanned from 2018 to 2024, targeting Binance’s compliance with U.S. regulations. Despite the DOJ’s recommendation for a longer sentence, the judge decided on four months, alongside imposing billions of dollars in fines. This case highlights the ongoing scrutiny of cryptocurrency exchanges by regulatory bodies, emphasizing the importance of compliance with AML laws and regulations. The legal challenges faced by Binance and its former CEO reflect broader concerns about the cryptocurrency industry’s adherence to legal standards.
Next news: 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.
Next news: Roger Ver, an early Bitcoin investor, has been charged with mail fraud, tax evasion, and filing false tax returns by the U.S. Department of Justice. He was arrested in Spain and the U.S. seeks his extradition for trial. Ver, who renounced his U.S. citizenship in 2014, is accused of causing a $48 million loss to the IRS. He originally lived in California and owned two companies dealing in computers and network equipment. Since 2011, Ver has been acquiring Bitcoin and promoting it, earning the nickname 'Bitcoin Jesus'. U.S. law required him to file tax returns on worldwide capital gains, including those from Bitcoin.
Next news: Bitcoin's value experiences fluctuations, falling below $63,000 and then recovering above it. The 24-hour changes range from a 3.1% drop to a 1.63% increase. The monthly decline of 13.45% may end the 7-day winning streak.
Next news: The Probation Administration Department recommended a 5-month prison sentence for CZ, stating that it is sufficient to deter the defendant and others. CZ's defense lawyer agrees with the sentencing of 5 months' probation but also prepared 6 other factors that could lead to consideration of reducing the probation. Following a judge's decision to reject the Ministry of Justice's initial proposal for a 36-month sentence, CZ was sentenced to 5 months in prison, marking a significant reduction from the originally suggested prison term.
Next news: BlackRock's BUIDL becomes the largest tokenized treasury fund, now at $375 million. According to BlockBeats, on April 30, BUIDL, the first digital asset fund launched by BlackRock in cooperation with Securitize, successfully topped the list in just six weeks, accounting for nearly 30% of the total digital treasury market of $1.3 billion. Last week, BUIDL fund added $70 million in inflows, surpassing similar products of Franklin Templeton.
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: Bitcoin faces its first monthly decline in 8 months, ending a 7-month upward trend. The price is currently hovering above $61,000, marking the largest monthly decline since June 2022. The market downturn has affected traders' risk appetite, but recovery is expected. Aurelie Barthere, Chief Research Analyst at Nansen, anticipates a focus on major tokens and highlights the growth of the crypto ecosystem.
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
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.