As of 11:59 PM on May 18, 2024, the total market cap of the crypto market is 2.25 trillion US dollars, experiencing a decrease of 2.58% over the past 24 hours. The total trading volume is 72.92 billion US dollars, showing an increase of 23.9% compared to the previous day.
According to sosovalue, the price of $BTC is 66,915 USD, a decrease of 0.162% from yesterday. The market cap of $BTC is 1.32T USD, accounting for 58.7% 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 3,122.9 USD, up 0.998% from yesterday; the market cap of $ETH is 375.13B USD, representing 16.7% 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 75.4% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Dark Frontiers. As of 23:55 today, its market cap is 8.00M, with a coin price of 0.040270 USD, witnessing a 24-hour increase of 45.1%.
The second is Lifeform. As of 23:55 today, its coin price is 0.11673 USD, with a 24-hour increase of 35.1%.
The third is inSure DeFi. As of 23:55 today, its coin price is 0.0055772 USD, showing a 24-hour increase of 28.5%.
In fourth place is Peng. As of 23:55 today, its coin price is 0.28374 USD, with a 24-hour rise of 27.1%.
In fifth place is Access Protocol. As of 23:55 today, its coin price is 0.0026670 USD, increasing by 23.7% 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, Meme sector has fallen -2.56% relative to the UTC 0 time, led by declines in popcat (-17.2%), mog (-16.9%), and tsuka (-9.08%).
SocialFi sector has decreased -2.79% relative to UTC 0, with kin (-5.1%), deso (-4.1%), and ton (-3.19%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Fantom Foundation has announced the launch of a new blockchain network, Sonic Network, which will serve as a next-generation Layer 1 blockchain connected to Ethereum via a native cross-chain bridge. Existing FTM token holders will have the opportunity to migrate their tokens to Sonic's native token at a 1:1 ratio. The Sonic Network aims to offer significantly improved performance over the current Opera Network, with the Fantom Operating Company continuing to support Opera validators. Additionally, the Fantom Foundation plans to allocate hundreds of millions of dollars from its treasury to support the Sonic ecosystem's development, including marketing, business development, and migration funding. A series of governance votes will be held to ensure community support for the transition plan. Sonic Network is described as Fantom 2.0, featuring a new client, validator, virtual machine (FVM), Carmen database, and an optimized Lachesis consensus mechanism, promising enhanced execution efficiency over the original Fantom.
Next news: US spot Bitcoin ETFs experienced a strong start in their first four months since launch on January 11, with net inflows reaching approximately $11.7 billion. Despite this initial success, demand has slowed, influenced by factors such as profit-taking by investors, the Federal Reserve's interest rate policies, and a halving of per-block rewards for mining Bitcoin. Notably, the Grayscale Bitcoin Trust ETF (GBTC) saw net outflows of $17.6 billion. Recent weeks have seen a drop in demand for Bitcoin, with its price decreasing by about 6% from a month ago. The inflow total for the category once exceeded $12.5 billion before experiencing outflows that reduced it significantly. Exchange-Traded Product (ETP) volumes, primarily from US spot Bitcoin ETFs, have also declined, indicating reduced participation in the crypto ecosystem. Despite the slowdown, products by BlackRock and Fidelity initially attracted significant investor assets, with net inflows of $15.5 billion and $8.1 billion, respectively. However, even these products have seen a decrease in demand recently. Financial advisers are expected to play a significant role in future inflows, with some already holding substantial positions in various Bitcoin funds.
Next news: Bankrupt crypto lender Genesis Global Capital won court approval for its plan to distribute billions of dollars in digital assets and cash to creditors, overcoming a legal challenge from its corporate parent Digital Currency Group. The approval by Judge Sean Lane for Genesis' Chapter 11 repayment plan includes a unique structure for returning Bitcoin and other tokens to creditors. This decision enables Genesis to return customer assets frozen on the platform since the firm paused withdrawals in November 2022 after the collapse of other major crypto firms.
Next news: Steven Cohen's Point72, a $34 billion hedge fund, held $77.5 million of the Fidelity Wise Origin Bitcoin Fund (FBTC) as of the close of the first quarter, according to a filing.
Next news: LayerZero CEO announces identification of over 338,000 witch addresses ahead of bounty event. Surrender phase concludes, moving into bounty reporting. 803,093 addresses identified as potential witches. Bounty hunt concludes on May 31st. Sybil self-reporting phase ends with 803,093 potential sybil addresses identified. Community bounty hunt to begin for sybil addresses.
Next news: LayerZero starts the second phase of sybil hunt, zkSync teases token issuance, and Eclipse founder resigns.
Next news: A whale sold 732,481 WIF and 716,344 POPCAT, losing over $400,000 in three days. BlockBeats reported that, according to Lookonchain monitoring, the sale occurred an hour ago, with the WIF sold for about $1.85 million and the POPCAT for about $281,000. The whale had originally purchased the WIF for about $2.18 million and the POPCAT for about $361,000. The loss amounted to $336,000 on WIF and $80,000 on POPCAT.
Next news: Former BNB Chain Growth Director Tomasz Wojewoda has joined Match Chain as Chief Strategy Officer, as reported by TheBlock on May 18.
Next news: In Q1 2024, the crypto funding landscape saw a significant surge, with startups receiving $2.4 billion across 518 deals, marking a 40.3% increase in investment capital and a 44.7% increase in transaction volume compared to the previous quarter. Infrastructure startups led the financing, with notable rounds for Ethereum staking platform EigenLayer and fully homomorphic encryption platform Zama. The largest deal was secured by Together AI, raising $106 million with a pre-investment valuation of $1.1 billion. Valuations and deal sizes across stages have also seen substantial increases year-over-year.
Next news: A suspected Wintermute address spent 2000 SOL to buy Maneki today. According to Lookonchain monitoring, the address starting with 4PV17T made the purchase with an average price of 0.0098 US dollars. This follows the address's last operation 8 days ago, where it spent 1300 SOL to buy another meme coin, Michi.
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.