SoSo Daily Jun 2

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on June 2, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.67 trillion US dollars, witnessing an increase of 0.131% compared to yesterday; the total trading volume is 55.50 billion US dollars, marking a rise of 9.66% from the previous day.

According to sosovalue, the price of $BTC is 67,891 USD, an increase of 0.147% from yesterday. The market cap of $BTC is 1.34T USD, accounting for 50% of the total market cap; $BTC's 24-hour trading volume is 19.69B USD, making up 35.5% of the total trading volume.
The price of $ETH is 3,773 USD, down 0.893% from yesterday; the market cap of $ETH is 453.30B USD, representing 17% of the total market cap; $ETH's 24-hour trading volume is 12.07B USD, comprising 21.7% 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, the top five gainers are:
Top 1 gainer is Notcoin. As of 17:55 today, its market cap is 2.76B, with a coin price of 0.026890, witnessing a 24-hour increase of 88.9%.
The second is Lifeform. As of 17:55 today, its coin price is 0.22083, with a 24-hour increase of 42.5%.
The third is ZeroLend. As of 17:55 today, its coin price is 0.00071930, showing a 24-hour increase of 41.8%.
In fourth place is ApolloX. As of 17:55 today, its coin price is 0.075830, with a 24-hour rise of 33.2%.
In fifth place is LOBO•THE•WOLF•PUP. As of 17:55 today, its coin price is 0.0022027, increasing by 30.9% 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, 5 are up and 11 are down. Notably, SocialFi sector has risen 3.38% relative to the UTC 0 time, led by gains in berry (21.1%), deso (11.7%), and moon (9.66%).
Meme sector has decreased -5.49% relative to UTC 0, with corgiai (-100%), mog (-18.4%), and wojak (-14.3%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: Bitcoin Magazine revealed that Trump became the first US president to accept campaign donations paid using the Bitcoin Lightning Network.
Next news: AMBCrypto's latest survey reveals that 36.8% of investors now include meme coins in their portfolios, with 53.7% preferring them over Bitcoin. Despite Bitcoin's 53.32% YTD rise, meme coins, especially those on Solana's blockchain, have seen significant gains, with Dogwifhat and Bonk recording 1,768% and 123% increases respectively. The survey also highlights a growing interest in AI-themed tokens, DeFi, and GameFi sectors among investors. Despite the volatility, Bitcoin remains a significant part of investors' portfolios, with 65.5% holding the cryptocurrency. AMBCrypto's report suggests Bitcoin could see an 80% increase by December 2024, potentially reaching $121,953. The report also notes the rising number of Pepe coin holders and the potential impact of meme coins on liquidity for altcoins with real-world utility. Additionally, the emergence of SocialFi platforms is gaining attention, indicating a possible continued interest in meme coins over other market sectors.
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.
Next news: On June 2, DEX protocol Velocore confirmed an attack on its system, resulting in significant liquidity loss. The CPMM pool was compromised, but the stable pool remains unaffected, allowing for fund withdrawals. Velocore is collaborating with its security team and foundation, and has requested CEXs to freeze the stolen assets. This incident follows a previous attack on Velocore on the zkSync and Linea chains, which resulted in a loss of about $10 million.
Next news: CEX spot trading volume in May reached 1.24 trillion US dollars, a decrease of 22.5% from the previous month. Binance dominates market share with a spot trading volume of 546.94 billion US dollars and a market share of 44.1%.
Next news: NOT briefly broke through $0.016, setting a new record high. According to OKX market information on June 2, NOT is now quoted at $0.01563, continuing to hit record highs with a 24-hour increase of 30.11%.

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.