SoSo Daily Jun 2

As of 11:59 AM on June 2, 2024, the total market cap of the crypto market is 2.67 trillion US dollars, showing a 24-hour change of 0.241%; the total trading volume is 49.43 billion US dollars, with a 24-hour change of -30.1%.

According to sosovalue, the price of $BTC is 68,252 USD, an increase of 0.873% from yesterday. The market cap of $BTC is 1.34T USD, accounting for 50.4% of the total market cap; $BTC's 24-hour trading volume is 19.69B USD, making up 39.8% of the total trading volume.
The price of $ETH is 3,806 USD, up 0.467% from yesterday; the market cap of $ETH is 457.26B USD, representing 17.1% of the total market cap; $ETH's 24-hour trading volume is 12.07B USD, comprising 24.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 64.2% 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 Notcoin. As of 11:55 today, its market cap is 1.97B, with a coin price of 0.019162, witnessing a 24-hour increase of 47.3%.
The second is Lifeform. As of 11:55 today, its coin price is 0.22083, with a 24-hour increase of 42.5%.
The third is MUMU THE BULL. As of 11:55 today, its coin price is 0.000031680, showing a 24-hour increase of 38.8%.
In fourth place is ApolloX. As of 11:55 today, its coin price is 0.078540, with a 24-hour rise of 37.8%.
In fifth place is Tensor. As of 11:55 today, its coin price is 1.3672, increasing by 28% 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, NFT and RWA sectors are worth mentioning.
NFT sector has risen 3.29% relative to the UTC 0 time, led by gains in TNSR (30.5%), coval (8.98%), and nfp (7.36%).
RWA sector has increased 2.12% relative to UTC 0, with PRCL (29%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Nayib Bukele begins his second term as President of El Salvador, marking the official start of his second term. Bitcoin became the legal currency of El Salvador on September 7, 2021, and President Bukele announced that the country would continue to buy 1 Bitcoin into a cold wallet until the day when Bitcoin can no longer be purchased with legal tender.
Next news: ZK Trademark Dispute, Taiko Mainnet Launch, Friend Tech Considering Migration from Base
Next news: Coinbase accuses the U.S. Securities and Exchange Commission (SEC) of attempting to destroy the cryptocurrency industry by not providing clear regulations and launching lawsuits against companies that fail to comply. In a 36-page closing statement, Coinbase argued that the SEC's actions have put cryptocurrency companies in a dilemma, as they are required to comply with regulations that are not clearly defined. Coinbase is urging the appellate court to order the SEC to start writing rules for cryptocurrencies.
Next news: Tether co-founder Brock Pierce is considering returning to Hong Kong to launch new projects as the government seeks to attract the crypto industry back. Pierce, who co-founded the stablecoin Tether in Hong Kong ten years ago and has since sold his shares, did not disclose the nature of his new business or whether Hong Kong will serve as its new headquarters. His previous ventures in Hong Kong include Internet Gaming Entertainment, a company that sold virtual currencies traded in games, and ZAM, a video game community building company, which he sold to Tencent Holdings in 2012.
Next news: FTX has sold its remaining Anthropic shares, and its bankruptcy-related legal costs have exceeded $700 million. The legal and administrative costs related to bankruptcy have exceeded $700 million. FTX sold the remaining 15 million shares at a price of about $30 per share, with a total sales price of more than $450 million. The largest buyer was the global venture capital fund G Squared, which acquired about one-third of the remaining shares, or 4.5 million shares, for $135 million. Venture capital funds also accounted for the majority of the other 20 buyers of Anthropic shares. This made FTX's initial $500 million investment appreciate to about $1.3 billion, with a profit of about $800 million.
Next news: Uniswap developers postpone the vote on the 'fee switch' application, sparking community discussions. Concerns about low participation rates in protocol governance highlighted.
Next news: United States Senator Cynthia Lummis criticizes President Joe Biden for vetoing the repeal of controversial cryptocurrency accounting guidelines, claiming he missed an opportunity to 'correct' his position on crypto assets. Lummis argues that the administration's decision to veto a Congressional resolution that would have overruled the SEC's Staff Accounting Bulletin (SAB) No. 121 reflects a failure to embrace financial innovation and protect crypto assets. The guidelines require firms holding customers' crypto assets in custody to record them as liabilities, a stance Lummis and other pro-crypto senators, including Ted Cruz who recently announced starting Bitcoin mining, oppose. The move has sparked discussions on the political support for cryptocurrency and its potential impact on future elections.
Next news: Bitcoin's price experienced a slight decline last week, but recent data suggests a potential bullish trend ahead. Key indicators, including positive ETF inflow and a green Binary CDD, indicate lower long-term holder activity. Despite bearish metrics like higher net deposits and profit selling, the Fear and Greed Index signals market greed. Glassnode's data on $BTC's PI Cycle Top Indicator and potential touch on the 111-day moving average suggest a market bottom and a possible price rebound. However, a decline in the Money Flow Index and Chaikin Money Flow hints at a further price drop before a comeback.
Next news: Velocore has identified the mechanism behind a vulnerability attack and is currently establishing an on-chain negotiation process. The company announced that its operations on the Telos mainnet were not affected by this vulnerability. The team is collaborating with the foundation to address the issue, and as a precaution, certain functions have been temporarily frozen.
Next news: Velocore hackers converted stolen assets into 1,807 $ETH and transferred them to the Ethereum Mainnet, according to Ember's monitoring.

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.