SoSo Daily Jun 16

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM Hong Kong time on June 16, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.54 trillion US dollars, witnessing an increase of 0.285% compared to yesterday; the total trading volume is 48.87 billion US dollars, marking a decline of 42% from the previous day.

According to sosovalue, the price of $BTC is 66,258 USD, an increase of 0.0395% from yesterday. The market cap of $BTC is 1.31 trillion USD, accounting for 51.3% of the total market cap; $BTC's 24-hour trading volume is 27.97 billion USD, making up 57.2% of the total trading volume.
The price of $ETH is 3,567.5 USD, up 1.15% from yesterday; the market cap of $ETH is 428.64 billion USD, representing 16.8% of the total market cap; $ETH's 24-hour trading volume is 14.16 billion USD, comprising 29% 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 86.2% 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 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Strips Finance (STRP). As of today, its market cap is 28.26M, with a coin price of 0.93330 USD, witnessing a 24-hour increase of 42.7%.
The second is PARSIQ (PRQ). As of today, its coin price is 0.10400 USD, with a 24-hour increase of 32.3%.
The third is ThetaDrop (TDROP). As of today, its coin price is 0.0032540 USD, showing a 24-hour increase of 26.4%.
In fourth place is Arcblock (ABT). As of today, its coin price is 3.2710 USD, with a 24-hour rise of 25.2%.
In fifth place is Euler (EUL). As of today, its coin price is 4.9850 USD, increasing by 21.4% 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, 5 are up and 11 are down. Notably, the SocialFi sector is worth mentioning.
The SocialFi sector has fallen -2.6% relative to the UTC 0 time, led by declines in PTS (-8.17%), CHZ (-4.19%), and TON (-2.74%).

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: 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: Notcoin (NOT) and TON prices surged significantly, with NOT surpassing $0.20 and TON hitting a new high above $8.00. The rise is attributed to the popularity of Telegram-based 'x to earn' games, particularly the 'tap to earn' game on the TON blockchain, attracting millions of global participants. TON blockchain's increasing activity is evident from its daily active wallets surpassing Ethereum's, excluding Layer 2s and unique user counts.
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: 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: 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. Additionally, in November 2023, Zhao pleaded guilty to violating the Bank Secrecy Act, stepped down from his leadership role at Binance, and agreed to pay a $50 million fine. Binance also agreed to a $4.3 billion settlement, one of the largest in U.S. corporate history. Zhao began serving a four-month jail term in a low-security facility in California, making him the richest man to ever serve time in a federal prison.
Next news: ZK Nation disclosed the schedule for the ZK airdrop set for June 17 at 15:00 Beijing time. The announcement was shared on the platform's FAQ document to clarify airdrop concerns.
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: Traders dismiss Bitcoin whale watching as 'useless' for valuable analysis, considering it more suitable for social media purposes.
Next news: Explore how blockchain and smart contracts are reshaping procurement by improving transparency and efficiency in supply chain management.

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.