SoSo Daily Jun 3

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on June 2, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.67 trillion US dollars, witnessing a decrease of 0.287% compared to the previous 24 hours; the total trading volume is 62.06 billion US dollars, marking an increase of 37.5% from the previous day.

According to sosovalue, the price of $BTC is 67,766 USD, a decrease of 0.18% from yesterday. The market cap of $BTC is 1.34 trillion USD, accounting for 50% of the total market cap; $BTC's 24-hour trading volume is 19.69 billion USD, making up 31.7% of the total trading volume.
The price of $ETH is 3,781.3 USD, down 0.904% from yesterday; the market cap of $ETH is 454.30 billion USD, representing 17% of the total market cap; $ETH's 24-hour trading volume is 12.07 billion USD, comprising 19.4% 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, according to the latest data, the top five gainers are:
Top 1 gainer is Notcoin. As of 23:55 today, its market cap is 2.41B, with a coin price of 0.023454, witnessing a 24-hour increase of 48%.
The second is Lifeform. As of 23:55 today, its coin price is 0.22083, with a 24-hour increase of 42.5%.
The third is ApolloX. As of 23:55 today, its coin price is 0.077510, showing a 24-hour increase of 37.1%.
In fourth place is ZeroLend. As of 23:55 today, its coin price is 0.00071120, with a 24-hour rise of 35.8%.
In fifth place is Efforce. As of 23:55 today, its coin price is 0.0067770, increasing by 28.5% 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, SocialFi sector has risen 6.42% relative to the UTC 0 time, led by gains in berry (9.19%), ton (8.75%), and whale (2.4%).
Others sector has decreased -2.46% relative to UTC 0, with nu (-100%) and RSC (-100%) leading the decline.
Meme sector has decreased -3.37%, with corgiai (-100%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A hacking event targeting Velocore, a decentralized cryptocurrency exchange operating on zkSync and Linea, resulted in the theft of $10 million in user assets. The hackers managed to steal all users' liquidity provider tokens (LPs) during the security breach. The Linea blockchain temporarily halted block production, which lasted for about an hour, between blocks 5081800 and 5081801, but the reason for this outage remains unknown. Some of the stolen Ethereum ($ETH) was transferred across chains to the Ethereum mainnet. Despite the incident, Velocore claims to have passed three rounds of inspections by reputable companies such as Zokyo, Hacken, and Scalebit. Bladeswap, another decentralized exchange and a fork of Velocore, released a statement acknowledging the hack and clarified that the issue was related to Velocore's fixed product market maker (CPMM) pool contract calculation, but assured its users that their funds were safe.
Next news: On June 2, Bitcoin Magazine revealed that Trump became the first US president to accept campaign donations paid using the Bitcoin Lightning Network.
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: Velocore suffers attack resulting in significant liquidity loss; works to freeze stolen assets. Velocore announces $6.8 million $ETH loss due to security breach and plans compensation
Next news: Hong Kong requires license applicants to sign a pledge excluding mainland users, Upbit’s recent surge in listings may be linked to South Korea’s new July regulations. Top10 News（0527-0602）
Next news: Linea released an update on the Velocore vulnerability incident, confirming that the network is secure and the issue is limited to third-party DApps. The attack on Velocore led to the suspension of the sorter to prevent further fund outflow. Linea highlighted its commitment to achieving a decentralized, censorship-resistant network in the future.
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: 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 has been sluggish recently, starting June on a bearish note. Despite this, there's speculation of a massive rally, with predictions of $BTC reaching $188,000. Analyst Mags highlighted a development where $BTC's price turned a previous resistance into support, suggesting a potential uptrend. Historical data shows a 178% surge after a similar pattern. However, current metrics indicate high selling pressure and a bearish MACD crossover, with the RSI moving sideways. This suggests that while a rally is possible, immediate prospects remain cautious.
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.

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.