Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on June 14, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.57 trillion US dollars, witnessing a decrease of 0.696% compared to yesterday; the total trading volume is 98.73 billion US dollars, marking a decline of 25.6% from the previous day.
According to sosovalue, the price of $BTC is 67,019 USD, a decrease of 1.06% from yesterday. The market cap of $BTC is 1.32 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 36.03 billion USD, making up 36.5% of the total trading volume.
The price of $ETH is 3,514.7 USD, up 0.5% from yesterday; the market cap of $ETH is 422.30 billion USD, representing 16.4% of the total market cap; $ETH's 24-hour trading volume is 16.80 billion USD, comprising 17% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 53.5% 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 Rocket Pool. As of 11:55 today, its market cap is 578.40M, with a coin price of 28.290 USD, witnessing a 24-hour increase of 49.3%.
The second is PepeFork. As of 11:55 today, its coin price is 0.00000017280 USD, with a 24-hour increase of 29.9%.
The third is L7DEX. As of 11:55 today, its coin price is 1.1070 USD, showing a 24-hour increase of 26.7%.
In fourth place is Swarm. As of 11:55 today, its coin price is 0.60300 USD, with a 24-hour rise of 22.2%.
In fifth place is Notcoin. As of 11:55 today, its coin price is 0.020978 USD, increasing by 19.8% 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 16 sectors, 4 are up and 12 are down. Notably, SocialFi, AI, and DePIN sectors are worth mentioning.
SocialFi sector has risen 6.02% relative to the UTC 0 time, led by gains in TON (7.33%), COS (2.1%), and RFR (1.41%).
AI sector has decreased -2.51% relative to UTC 0, with VXV (-6.74%), ALI (-6.3%), and MOOV (-5.66%) leading the drop.
DePIN sector has fallen -3.23%, with AR (-11.1%), AVIVE (-10.3%), and TFUEL (-7.66%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:SEC Chairman Gary Gensler anticipates the final approval of spot Ethereum ETFs by the end of this summer. The approval process for the S-1 filings is expected to be completed, allowing these ETFs to begin trading. The SEC had previously approved 19b-4 applications for these ETFs in May. Additionally, the status of Ethereum as a commodity was discussed during a Senate Appropriations Committee meeting.
Next news: MicroStrategy plans to raise $500 million through a convertible note offering to purchase more Bitcoin and for general corporate purposes. The notes will mature in 2032 and offer flexibility in conversion to cash or MicroStrategy's class A common stock. This move aligns with the company's commitment to Bitcoin investment and its strategy as a major institutional supporter of Bitcoin.
Next news: Paradigm, a prominent venture capital firm in the cryptocurrency sector, has raised $850 million for its third fund, focusing on early-stage crypto projects. The fundraising event was reported by BlockBeats on June 14. Paradigm, alongside a16z, continues to lead in the venture capital space despite previous considerations of shifting focus to AI. The firm has been a key investor in projects like Uniswap and Optimism, contributing to the growth of the crypto industry.
Next news: Terraform Labs agrees to pay $4.47 billion in a settlement with the SEC following a civil lawsuit related to the collapse of its algorithmic stablecoin, TerraUSD, in 2022. The settlement includes disgorgement fines, prejudgment interest, and a civil penalty, with former CEO Do Kwon contributing to the Terraform bankruptcy estate. This agreement aims to address fraud and provide recovery for affected investors, pending court approval to conclude legal proceedings.
Next news: Swiss financial regulator FINMA has forced the crypto-friendly FlowBank into bankruptcy due to serious breaches in capital requirements. The bank, with $760 million in assets and over 22,000 clients, failed to maintain the minimum capital needed for operations, leading to its license revocation. Customers with up to 100,000 Swiss francs will be protected, with efforts underway to recoup funds.
Next news: The White House is expected to nominate Christy Goldsmith Romero, a US CFTC Commissioner, as the next Chairman of the Federal Deposit Insurance Corporation (FDIC), along with nominating Kristin Johnson for a senior position in the Treasury Department.
Next news: Curve founder Michael Egorov addresses a liquidation risk issue, repaying 93% of $10 million in bad debts, primarily affecting the CRV market. Egorov plans to settle the remaining debts to prevent further user impact. The CRV token price recovers after Egorov resolves the liquidation risk and stabilizes the market, liquidating all his loans. He proposes burning 10% of outstanding CRV tokens and offers incentives for active voters. The CRV token plunges 23% due to heavy borrowing by Egorov, leading to liquidation risks and panic among holders, with a record high of tokens moved to exchanges.
Next news: Holograph's native token, HLG, faced a severe breach as hackers illicitly minted 1 billion tokens, causing an 80% plummet in value. The incident prompted swift action from the Holograph team, who patched the vulnerability and collaborated with exchanges to freeze the hacker's accounts. The hacker began converting the stolen tokens to Tether (USDT) shortly after the exploit. Law enforcement has been engaged, and investigations are ongoing to address the breach.
Next news: The European Banking Authority (EBA) has finalized the technical standards for prudential matters under the Crypto Asset Market (MiCA) regulatory law. These standards encompass stress testing plans, liquidity for reserve assets, and recovery plans for issuers. Additionally, the EBA has introduced guidelines for token issuers as part of the MiCA implementation, covering various aspects of asset-referenced tokens (ARTs) and e-money tokens (EMTs) in Europe. The guidelines include requirements for maintaining financial resources, setting limits on liquid instruments, and compliance deadlines for digital asset service providers by July 1, 2026.
Next news: Terraform Labs, led by CEO Chris Amani, plans to dissolve the company following a settlement with the SEC. The company will sell its projects within the Terra ecosystem and transfer control to the community. This decision marks a significant shift in strategy as Terraform Labs ceases operations.
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.