SoSo Daily Jun 14

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on June 14, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.51 trillion US dollars, witnessing a decrease of 1.71% compared to yesterday; the total trading volume is 78.45 billion US dollars, marking a decline of 56.5% from the previous day.

According to sosovalue, the price of $BTC is 65,435 USD, a decrease of 2.16% from yesterday. The market cap of $BTC is 1.29 trillion USD, accounting for 51.5% of the total market cap; $BTC's 24-hour trading volume is 36.03 billion USD, making up 45.9% of the total trading volume.
The price of $ETH is 3,389.5 USD, down 2.26% from yesterday; the market cap of $ETH is 407.25 billion USD, representing 16.2% of the total market cap; $ETH's 24-hour trading volume is 16.80 billion USD, comprising 21.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 67.3% 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 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is PepeFork. As of 17:55 today, its market cap is 62.02M, with a coin price of 0.00000018770 USD, witnessing a 24-hour increase of 43.3%.
The second is ECOMI. As of 17:55 today, its coin price is 0.00055090 USD, with a 24-hour increase of 27%.
The third is L7DEX. As of 17:55 today, its coin price is 1.0450 USD, showing a 24-hour increase of 26.7%.
In fourth place is Rocket Pool. As of 17:55 today, its coin price is 23.550 USD, with a 24-hour rise of 26%.
In fifth place is Aurox. As of 17:55 today, its coin price is 5.6570 USD, increasing by 22.6% 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, 1 is up and 15 are down. Notably, DePIN, Meme, and AI sectors are worth mentioning.
DePIN sector has fallen -6.66% relative to the UTC 0 time, led by declines in wsi (-13.1%), flux (-12.3%), and nos (-9.98%).
Meme sector has decreased -7.82% relative to UTC 0, with corgiai (-100%), WEN (-17.1%), and mew (-14.2%) leading the drop.
AI sector has fallen -7.94%, with moov (-11.8%), nos (-9.98%), and paal (-9.36%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: 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: Terraform Labs agrees to pay $4.47 billion in a settlement with the SEC following a civil lawsuit related to the company's collapse in 2022. The settlement includes disgorgement fines, a civil penalty, and prejudgment interest, with former CEO Do Kwon contributing to the bankruptcy estate. This agreement aims to address fraud and provide recovery for affected investors.
Next news: Nigerian officials have dropped tax charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla, focusing solely on the company. Gambaryan and Anjarwalla still face money laundering charges, with Gambaryan currently in Kuje Prison awaiting the next hearing on June 19. Anjarwalla had previously escaped custody but was later arrested in Kenya. Binance expresses hope for the charges against Gambaryan to be dropped, emphasizing transparency in resolving issues with the Nigerian government.
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: 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: 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 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: Bitcoin ETFs in the U.S. have seen significant inflows, with record amounts of $BTC acquired amidst market surges and price fluctuations. In the first full trading week of June, U.S. Bitcoin ETFs acquired nearly as much Bitcoin as in the entire month of May, with inflows of $1.83 billion. The 11 funds bought 25,729 $BTC, surpassing the new $BTC mined during the same period. Despite price stability challenges and macroeconomic influences, the ETFs have amassed $15.69 billion in net inflows since January, with assets under management around $61 billion.
Next news: Bitcoin miner Bitfarms rejects Riot Platforms' takeover proposal and expands its U.S. mining operations by developing a new site in Pennsylvania, increasing power capacity to 648 MW by 2025. Bitfarms' stock surges by 14.7% amidst the corporate drama with Riot Platforms. Riot increases its stake in Bitfarms to 14%, aiming to nominate directors for the board. The expansion strengthens Bitfarms' industry position and revenue stream diversification.

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.