SoSo Daily Jun 15

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on June 15, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.55 trillion US dollars, witnessing a decrease of 0.716% compared to yesterday; the total trading volume is 83.44 billion US dollars, marking a decline of 15.5% from the previous day.

According to sosovalue, the price of $BTC is 66,320 USD, a decrease of 1.07% 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 35.5% of the total trading volume.
The price of $ETH is 3,539.8 USD, up 0.682% from yesterday; the market cap of $ETH is 425.31 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 14.26 billion USD, comprising 17.1% 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 52.6% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is MUMU THE BULL. As of 11:55 today, its market cap is 56.15M, with a coin price of 0.0000241 USD, witnessing a 24-hour increase of 22.6%.
The second is Avive. As of 11:55 today, its coin price is 0.00751 USD, with a 24-hour increase of 20.5%.
The third is V.SYSTEMS. As of 11:55 today, its coin price is 0.001555 USD, showing a 24-hour increase of 19%.
In fourth place is Shentu. As of 11:55 today, its coin price is 0.9252 USD, with a 24-hour rise of 17.6%.
In fifth place is TARS Protocol. As of 11:55 today, its coin price is 0.22828 USD, increasing by 15.2% 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, 2 are up and 14 are down. Notably, GameFi, Meme, and AI sectors are worth mentioning.
GameFi sector has fallen -4.11% relative to the UTC 0 time, led by declines in hxro (-100%), GOG (-18.1%), and cgg (-13.3%).
Meme sector has decreased -4.57% relative to UTC 0, with corgiai (-100%), SLERF (-15.4%), and tsuka (-13%) leading the drop.
AI sector has fallen -4.92%, with paal (-15.7%), fet (-7.6%), and clore (-7.57%) 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. Investors will receive their assets back within seven days.
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: Bloomberg analyst Eric Balchunas announced the Ethereum spot ETF launch date has been moved up to July 2, following minimal feedback on the S-1 submission. The team expects to finalize details before the upcoming holiday.
Next news: Australia's main stock market is set to list the first Bitcoin ETF managed by VanEck, following approval from ASX Ltd. This marks a significant development in the cryptocurrency market in Australia, with the ETF scheduled to be listed on Thursday.
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.
Next news: Bitcoin is facing a downturn with drops in its value, influenced by various factors like bearish sentiments, regulatory pressures, miners' selling activities, and market trends. The cryptocurrency market is experiencing declines, with altcoins also affected by the overall market downturn.
Next news: According to a recent survey by the Bank for International Settlements (BIS), an increasing number of central banks are exploring the development of central bank digital currencies (CBDCs). The survey, which included 86 banks, revealed that 94% are investigating digital versions of their national currencies, up from 90% in a similar 2021 survey. Additionally, the banks indicated a preference for issuing wholesale CBDCs over retail CBDCs in the next six years, with the former being limited to financial institutions and the latter intended for public use.

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.