SoSo Daily Jun 15

Let's turn our attention to today's overall Crypto market situation.
As of 6 PM Hong Kong time on June 15, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.55 trillion US dollars, witnessing an increase of 2.44% compared to yesterday; the total trading volume is 63.40 billion US dollars, marking a decline of 19.2% from the previous day.

According to sosovalue, the price of $BTC is 66,254 USD, an increase of 1.28% from yesterday. The market cap of $BTC is 1.31 trillion USD, accounting for 51.2% of the total market cap; $BTC's 24-hour trading volume is 29.65 billion USD, making up 46.8% of the total trading volume.
The price of $ETH is 3,572.2 USD, up 5.39% from yesterday; the market cap of $ETH is 429.20 billion USD, representing 16.8% of the total market cap; $ETH's 24-hour trading volume is 14.26 billion USD, comprising 22.5% 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 69.3% 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 FARCANA. As of 17:55 today, its market cap is 40.48M, with a coin price of 0.058000 USD, witnessing a 24-hour increase of 79.9%.
The second is Arcblock. As of 17:55 today, its coin price is 3.2800 USD, with a 24-hour increase of 32.2%.
The third is BakerySwap. As of 17:55 today, its coin price is 0.45140 USD, showing a 24-hour increase of 28%.
In fourth place is KlimaDAO. As of 17:55 today, its coin price is 3.1090 USD, with a 24-hour rise of 25.3%.
In fifth place is cat in a dogs world. As of 17:55 today, its coin price is 0.0042560 USD, increasing by 23.6% 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, 15 are up and 1 is down. Notably, $ETH, DeFi, and Layer2 sectors are worth mentioning.
$ETH sector has risen 5.39% relative to the UTC 0 time, led by gains in $ETH (5.39%).
DeFi sector has increased 4.87% relative to UTC 0, with BAKE (26.5%), KLIMA (25.2%), and CRV (18%) leading the rise.
Layer2 sector has risen 4.06%, with OP (7.48%), OMG (7.36%), and SAVM (6.53%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: Bitcoin ETFs in the U.S. have seen significant inflows, with record amounts of $BTC acquired despite price fluctuations and macroeconomic influences. The ETFs accumulated around $15.7 billion in assets since their launch in January, with substantial buying activity last week. Notably, the ETFs acquired almost as much Bitcoin in a week as they did in the entire month of May, showcasing strong investor interest and confidence in the cryptocurrency market.
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: 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: Bloomberg ETF analyst Eric Balchunas anticipates the commencement of spot Ether ETF trading in the U.S. by July 2, with positive feedback from the SEC. The potential launch date aligns with SEC Chair Gary Gensler's broader timeframe for spot Ether ETF trading within the next three months. While some traders are optimistic about Ether's price movement post-ETF approval, others express caution due to the complexity of valuing Ethereum's use cases. The market dynamics between Bitcoin and Ethereum remain uncertain, with Ethereum showing modest gains compared to declines in Bitcoin and other cryptocurrencies.
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: 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: 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.
Next news: Forbes reports that Binance founder CZ, despite legal issues and fines, remains the richest person in the cryptocurrency field with a net worth of $61 billion. He holds 90% of Binance's shares and 64% of the circulating BNB tokens. His wealth is largely attributed to his significant holdings in Binance and BNB, even as he faced a $50 million personal fine and his company paid $4.9 billion to the US government. Zhao's significant stake in Binance and his crypto holdings have elevated his net worth to an estimated $61 billion, making him the 24th richest person globally. Additionally, Zhao recently entered a plea deal with U.S. prosecutors, pleading guilty to violating the Bank Secrecy Act and agreeing to step down as CEO. He was sentenced to four months in prison, a sentence much lighter than the three years recommended by prosecutors. Despite legal issues, including a guilty plea for money laundering and sanctions violations, Zhao's wealth primarily stems from his 90% stake in Binance and his substantial holdings in BNB tokens. Forbes estimates he holds 94 million BNB tokens, representing 64% of the total circulation. Binance's dominance in the crypto exchange market has grown, with BNB's value increasing by 100% in 2024, outperforming other major cryptocurrencies.
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.

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.