Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on June 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.54 trillion US dollars, witnessing a decrease of 0.91% compared to yesterday; the total trading volume is 82.42 billion US dollars, marking an increase of 80% from the previous day.
According to sosovalue, the price of $BTC is 66,538 USD, a decrease of 0.0337% from yesterday. The market cap of $BTC is 1.31 trillion USD, accounting for 51.6% of the total market cap; $BTC's 24-hour trading volume is 13.47 billion USD, making up 16.3% of the total trading volume.
The price of $ETH is 3,551.5 USD, down 1.06% from yesterday; the market cap of $ETH is 426.73 billion USD, representing 16.8% of the total market cap; $ETH's 24-hour trading volume is 12.06 billion USD, comprising 14.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 30.9% 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 Convex Finance. As of 17:55 today, its market cap is 318.94M, with a coin price of 3.8900 USD, witnessing a 24-hour increase of 55.5%.
The second is PepeFork. As of 17:55 today, its coin price is 0.00000021950 USD, with a 24-hour increase of 21.5%.
The third is V.SYSTEMS. As of 17:55 today, its coin price is 0.0015550 USD, showing a 24-hour increase of 19%.
In fourth place is Unifi Protocol DAO. As of 17:55 today, its coin price is 4.2810 USD, with a 24-hour rise of 18.5%.
In fifth place is Mirror Protocol. As of 17:55 today, its coin price is 0.031000 USD, increasing by 14.8% 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, 1 is up and 15 are down. Notably, Meme, Others, and AI sectors are worth mentioning.
Meme sector has fallen -5.96% relative to the UTC 0 time, led by declines in corgiai (-100%), people (-18.3%), and DEGEN (-18%).
Others sector has decreased -6.2% relative to UTC 0, with nu (-100%), RSC (-100%), and wiken (-21.6%) leading the drop.
AI sector has fallen -6.38%, with paal (-17.1%), iq (-14.4%), and glm (-10.5%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:David Hirsch, the chief of the crypto assets in the United States Securities and Exchange Commission’s (SEC) enforcement division, has officially announced his departure from the agency after nearly nine years of service. Hirsch expressed pride in the work accomplished by the agency’s Crypto Assets and Cyber Unit and credited his success to the collaborative efforts of his colleagues and the support of mentors across various regulatory and law enforcement agencies. He plans to take a break and travel with his family before announcing his next endeavor.
Next news: Last week, digital asset investment products experienced a significant net outflow of $600 million, the largest since March 22, 2024, following a more hawkish Federal Reserve FOMC meeting. Bitcoin faced a net outflow of $621 million, while products shorting Bitcoin saw inflows of $1.8 million. Altcoins like Ethereum, LIDO, and XRP attracted modest inflows. The overall trading volume of digital assets was $11 billion, below this year's weekly average of $22 billion but higher than last year's $2 billion.
Next news: Bitcoin's market sentiment is showing signs of a potential rally despite the recent price decline. Key metrics like the Taker Buy Sell Ratio and Exchange Netflow indicate increased buying pressure and positive netflows to exchanges, supporting a bullish outlook. The current price is around $66,360 with a support range at $65,000, while the Relative Strength Index (RSI) signals a bear trend.
Next news: US-listed Bitcoin mining companies achieved a record market value of $22.8 billion, as reported by JPMorgan on June 15. Core Scientific, TeraWulf, and IREN saw stock increases of 117%, 80%, and 70% respectively, while Argo Blockchain faced a 7% decline. Marathon Digital stands as the top U.S. Bitcoin mining company with a $5.3 billion market value, trailed by CleanSpark and Riot Platforms.
Next news: On June 17, the ZK chain opened at $0.42 and dropped to $0.34. Subsequently, the price fell to $0.29, marking a 30% decrease from its launch price. Bitget market data reported that ZK opened at $0.34 and is now at $0.28.
Next news: Former SEC official David Hirsch refutes claims of joining pump.fun, a digital asset company, post his retirement. Hirsch dismisses rumors circulating about his involvement with the company.
Next news: The U.S. Supreme Court has agreed to hear a case concerning Nvidia's cryptocurrency mining revenue, a move that might complicate shareholders' ability to bring securities fraud lawsuits. The decision was disclosed by BlockBeats news on June 17.
Next news: Convex Finance's native token, CVX, surged by 90.85% in just 24 hours, peaking at $4.50 before stabilizing at $4.17. The rally was driven by events related to Curve Finance, including the founder's liquidation, which caused a CRV price drop and boosted CVX. Trading volumes soared on platforms like Binance, indicating heightened interest. Despite being overbought with an RSI of 87.96, analysts foresee a potential correction due to market dynamics. The bullish market sentiment, supported by a positive funding rate, suggests ongoing optimism, but CVX's future trajectory hinges on market trends and trading activities.
Next news: Malaysia launches 'Ops Token' to combat cryptocurrency tax evasion, with an official from the Inland Revenue Board warning traders to declare taxes or face compliance actions.
Next news: South Korea is preparing to enforce the virtual asset user protection law by July 19, focusing on monitoring 600 crypto tokens to improve user safety. The regulation aims to provide continuous oversight and enhance protection for cryptocurrency users.
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.