SoSo Daily Jun 16

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 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 0.976% compared to yesterday; the total trading volume is 52.64 billion US dollars, marking a decline of 39.6% from the previous day.

According to sosovalue, the price of $BTC is 66,228 USD, an increase of 0.279% 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 56.3% of the total trading volume.
The price of $ETH is 3,568.8 USD, up 2.5% from yesterday; the market cap of $ETH is 428.79 billion USD, representing 16.8% of the total market cap; $ETH's 24-hour trading volume is 14.26 billion USD, comprising 27.1% 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 83.4% 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 Arcblock. As of 23:55 today, its market cap is 338.23M, with a coin price of 3.4310 USD, witnessing a 24-hour increase of 35.2%.
The second is L7DEX. As of 23:55 today, its coin price is 1.2130 USD, with a 24-hour increase of 26.5%.
The third is FARCANA. As of 23:55 today, its coin price is 0.049860 USD, showing a 24-hour increase of 26.1%.
In fourth place is KlimaDAO. As of 23:55 today, its coin price is 3.1860 USD, with a 24-hour rise of 22.9%.
In fifth place is PARSIQ. As of 23:55 today, its coin price is 0.099500 USD, increasing by 22.2% 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, 13 are up and 3 are down. Notably, DeFi, Payment, and SocialFi sectors are worth mentioning.
DeFi sector has risen 2.93% relative to the UTC 0 time, led by gains in LSD (26.7%), KLIMA (23.2%), and RBX (18.5%).
Payment sector has increased 2.64% relative to UTC 0, with SFP (6.05%), XNO (4.73%), and XRP (3.41%) leading the rise.
SocialFi sector has fallen -2.94%, with CHZ (-3.9%), PTS (-3.52%), and TON (-3.35%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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 is seen as a move to boost the country's GDP significantly and may involve reforms to enable legal operations with digital assets.
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: Ethereum's price is displaying a bullish flag pattern, hinting at potential gains if the pattern holds. Despite a recent 7% price drop, positive signals like reduced exchange reserves and increased buying pressure suggest a likely rebound. The current price is testing support near the lower limit of the bullish flag, with a successful test possibly leading to a retest of the $4,000 mark. However, caution is advised due to conflicting signals from indicators like MACD and RSI.
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: The zkSync airdrop allocation has caused controversy, with an imminent LayerZero Airdrop and the liquidation of nearly 100 million CRV by Curve's founder making headlines this week.
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: Notcoin and TON have driven the rise in tap-to-earn crypto games' popularity, with Notcoin's market value surging by 20% in early New York trading. These games, primarily on Telegram and Solana, enable users to earn tokens through easy tasks, attracting millions of players. The trend is prominent in top Telegram channels, leveraging the simplicity and integration with familiar platforms to draw users to Web 3 technologies.
Next news: BNB has shown significant price movements, dropping 15% from its all-time high but later surging by 22.44% to reach a new high. Currently trading above support levels, indicators suggest a possible price reversal as it nears an oversold zone. Rising whale activity and social volume signal a bullish trend, but a potential price drop may happen if BNB closes below the resistance zone.

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.