SoSo Daily Jun 15

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on June 15, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.54 trillion US dollars, witnessing a decrease of 0.485% compared to yesterday; the total trading volume is 84.19 billion US dollars, marking a decline of 14.7% from the previous day.

According to sosovalue, the price of $BTC is 66,232 USD, a decrease of 1.22% from yesterday. The market cap of $BTC is 1.31 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 29.65 billion USD, making up 35.2% of the total trading volume.
The price of $ETH is 3,527.2 USD, up 0.142% from yesterday; the market cap of $ETH is 423.8 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 14.26 billion USD, comprising 16.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 52.1% 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 05:55, according to sosovalue, the top five gainers are:
Top 1 gainer is ResearchCoin (RSC). As of today, its market cap is 24.05M, with a coin price of 0.25168 USD, witnessing a 24-hour increase of 150%.
The second is PepeFork (PORK). As of today, its coin price is 0.00000017780 USD, with a 24-hour increase of 37.3%.
The third is Dimitra (DMTR). As of today, its coin price is 0.14304 USD, showing a 24-hour increase of 23.8%.
In fourth place is Rocket Pool (RPL). As of today, its coin price is 23.890 USD, with a 24-hour rise of 23.7%.
In fifth place is MANEKI (MANEKI). As of today, its coin price is 0.012344 USD, increasing by 21% 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, Meme, DePIN, and AI sectors are worth mentioning.
Meme sector has fallen -4.7% relative to the UTC 0 time, led by declines in corgiai (-100%), SLERF (-11.3%), and LOBO (-9.16%).
DePIN sector has decreased -4.82% relative to UTC 0, with wsi (-21.1%), flux (-10.4%), and ar (-10.1%) leading the drop.
AI sector has fallen -5.5%, with paal (-9.44%), fet (-7.86%), and vxv (-6.74%) 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 are still defendants in a money laundering case, with Gambaryan currently in Kuje Prison awaiting the next hearing on June 19. Despite the dropped tax charges, the executives continue to face legal challenges. Binance expresses hope for the dismissal of all charges against Gambaryan, emphasizing transparency in resolving issues with the Nigerian government.
Next news: Gemini, a cryptocurrency exchange, has settled a $50 million fraud claim with the New York Attorney General over its Earn program. The settlement ensures full compensation for affected investors and prohibits Gemini from offering crypto lending programs in New York. The lawsuit accused Gemini of misleading investors about the risks associated with its investment program, Gemini Earn, which promised up to 7.4% APY. The settlement also involves cooperation in ongoing litigation against related parties, including Digital Currency Group.
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: El Salvador is considering the establishment of a Bitcoin bank to offer financing options in both US Dollars and Bitcoin, aiming to diversify investor choices. President Nayib Bukele's proposal for a Bank for Private Investment (BPI) is part of the country's economic plan, allowing the BPI to operate with fewer restrictions than traditional banks. The initiative, pending approval, is viewed as a strategy to boost the country's GDP significantly. El Salvador has also launched a Bitcoin treasury monitoring website and is contemplating reforms to enable the BPI to legally engage with digital assets.
Next news: Turkey introduces a 0.03% tax on crypto transactions as part of fiscal reforms to address budget deficits caused by recent earthquakes. The tax aims to generate significant revenue and enhance financial regulation. This move sparks discussions and potential political contention due to its significant impact on Turkey's financial transaction regulation.
Next news: Holograph's native token, HLG, faced a severe exploit where hackers minted 1 billion tokens, causing a significant drop in value and market cap. The team swiftly patched the vulnerability, froze malicious accounts, and initiated investigations with law enforcement. The hacker converted some tokens to USDT and then to $ETH, distributing funds to various addresses. The incident led to a market value reduction to around $7 million.
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: 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: MicroStrategy plans to use proceeds from a $500 million stock sale and convertible notes offering to purchase more Bitcoin, reinforcing its commitment to $BTC as a treasury reserve asset. The company aims to raise funds through these offerings for Bitcoin acquisitions and general corporate purposes, with the notes maturing in 2032. MicroStrategy's strategy aligns with its ongoing commitment to Bitcoin investment, positioning itself as a major institutional supporter of the cryptocurrency.

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.