SoSo Daily Jun 15

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on June 14, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.53 trillion US dollars, witnessing a decrease of 1.05% compared to yesterday; the total trading volume is 87.22 billion US dollars, marking a decline of 28.8% from the previous day.

According to sosovalue, the price of $BTC is 66,044 USD, a decrease of 1.09% from yesterday. The market cap of $BTC is 1.30 trillion USD, accounting for 51.5% of the total market cap; $BTC's 24-hour trading volume is 36.03 billion USD, making up 41.3% of the total trading volume.
The price of $ETH is 3,481.6 USD, up 0.351% from yesterday; the market cap of $ETH is 418.32 billion USD, representing 16.5% of the total market cap; $ETH's 24-hour trading volume is 16.80 billion USD, comprising 19.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68% of the total cryptocurrency market cap, and their combined trading volumes constitute 60.6% 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 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is PepeFork (PORK). As of 23:55 today, its market cap is 57.99M, with a coin price of 0.00000017550 USD, witnessing a 24-hour increase of 33.1%.
The second is Rocket Pool (RPL). As of 23:55 today, its coin price is 24.370 USD, with a 24-hour increase of 29.8%.
The third is Dimitra (DMTR). As of 23:55 today, its coin price is 0.14051 USD, showing a 24-hour increase of 28.9%.
In fourth place is ECOMI (OMI). As of 23:55 today, its coin price is 0.00053870 USD, with a 24-hour rise of 24.9%.
In fifth place is DOSE. As of 23:55 today, its coin price is 0.0037330 USD, increasing by 23% 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, 3 are up and 13 are down. Notably, DePIN, Meme, and AI sectors are worth mentioning.
DePIN sector has fallen -4.13% relative to the UTC 0 time, led by declines in wsi (-22%), flux (-9.32%), and clore (-7.53%).
Meme sector has decreased -4.87% relative to UTC 0, with corgiai (-100%), LOBO (-11.3%), and mew (-8.49%) leading the drop.
AI sector has fallen -5.61%, with paal (-13.2%), moov (-10.8%), and clore (-7.53%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Nigeria's Federal Inland Revenue Service (FIRS) has 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. The case highlights ongoing legal challenges faced by Binance in Nigeria.
Next news: Gemini, a cryptocurrency trading platform, has settled claims of fraud with the New York Attorney General's office for $50 million. The settlement addresses allegations of misleading investors about the risks associated with its Gemini Earn program. As part of the agreement, Gemini is prohibited from operating crypto lending programs in New York and must cooperate with ongoing litigation. Impacted investors will receive $50 million in digital assets directly in their accounts. The settlement follows a larger lawsuit involving Gemini, bankrupt lender Genesis, and Digital Currency Group. Gemini will also provide full recovery for defrauded investors and return crypto assets to Earn users within seven days.
Next news: Terraform Labs agrees to pay $4.47 billion in a settlement with the SEC, including disgorgement fines, civil penalties, and prejudgment interest, following the collapse of its algorithmic stablecoin, TerraUSD, in 2022. The settlement aims to address fraud and provide recovery for affected investors, with former CEO Do Kwon contributing to the bankruptcy estate. The agreement concludes legal proceedings between Terraform and the SEC.
Next news: Bernstein's latest report predicts significant future milestones for Bitcoin, forecasting a price of $200,000 by 2025 and $1 million by 2033. Additionally, the report marks the first time Bernstein has rated MicroStrategy, assigning a target price of $2,890 and an 'outperform' market rating. Bernstein also initiates coverage on MicroStrategy with a price target of $2,890 and predicts Bitcoin could reach $1 million within the next 10 years. The analysts at Bernstein project Bitcoin to hit $1 million by 2033, benefiting MicroStrategy significantly. CNBC reports that Bernstein foresees MicroStrategy becoming the world's largest Bitcoin company with substantial growth potential, suggesting an 80% room for stock price growth.
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: Holograph's native token, HLG, faced a severe breach as hackers minted 1 billion tokens, causing an 80% price drop. The team swiftly patched the vulnerability and froze the hacker's accounts. The exploit led to a market cap reduction from $22 million to $4.8 million, with the hacker converting tokens to USDT. Holograph is part of the Omnichain ecosystem and has garnered funding from notable venture capitals.
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: QCP Capital predicts a quiet summer for the crypto market with low volatility and highlights the impact of Bitcoin miners' capitulation post-halving. Ethereum is not expected to surge soon, but the approval of a spot $ETH ETF may occur by late summer, presenting an opportunity for accumulating ETH.
Next news: Bitcoin experienced fluctuations in price following comments from Federal Reserve Chair Jerome Powell and the FOMC meeting. Market sentiment shifted as Powell emphasized a restrictive monetary policy, impacting Bitcoin's value. Uncertainty looms in Q3 due to mixed Fed signals and market opinions, with contrasting views on rate cuts and inflation. Bitcoin faces challenges amid global central banks' rate cuts, affecting asset prices. The market anticipates limited Fed rate cuts, influencing Bitcoin's decline alongside equities.
Next news: The weekly update from WuBlockchain covers various significant events, including the U.S. Consumer Price Index (CPI) falling below expectations, the anticipation of the approval of a Spot Ethereum ETF S-1 this summer, Binance Global surpassing 200 million users, and other top 10 news highlights.

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.