Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on June 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.53 trillion US dollars, witnessing a decrease of 1.84% compared to yesterday; the total trading volume is 89.93 billion US dollars, marking an increase of 87.4% from the previous day.
According to sosovalue, the price of $BTC is 66,505 USD, a decrease of 0.257% from yesterday. The market cap of $BTC is 1.31 trillion USD, accounting for 51.9% of the total market cap; $BTC's 24-hour trading volume is 13.47 billion USD, making up 15% of the total trading volume.
The price of $ETH is 3,511.5 USD, down 3.12% from yesterday; the market cap of $ETH is 421.92 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 12.06 billion USD, comprising 13.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 28.4% 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 PepeFork. As of 23:55 today, its market cap is 69.75M, with a coin price of 0.00000021110 USD, witnessing a 24-hour increase of 24.2%.
The second is Velodrome Finance. As of 23:55 today, its coin price is 0.12440 USD, with a 24-hour increase of 21.7%.
The third is Metaverse.Network Pioneer. As of 23:55 today, its coin price is 0.071580 USD, showing a 24-hour increase of 20.8%.
In fourth place is Calamari Network. As of 23:55 today, its coin price is 0.00087900 USD, with a 24-hour rise of 20%.
In fifth place is V.SYSTEMS. As of 23:55 today, its coin price is 0.0015550 USD, increasing by 19% 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, Others, Meme, and AI sectors are worth mentioning.
Others sector has fallen -8.45% relative to the UTC 0 time, led by declines in nu (-100%), RSC (-100%), and wiken (-21%).
Meme sector has decreased -8.76% relative to UTC 0, with corgiai (-100%), DEGEN (-20.5%), and wojak (-19.9%) leading the drop.
AI sector has fallen -9.78%, with iq (-13.8%), glm (-13.2%), and paal (-12.7%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:David Hirsch, the head of the U.S. Securities and Exchange Commission (SEC)'s crypto assets and cyber division, has resigned after nearly nine years of service. Hirsch expressed pride in the accomplishments of the agency's Crypto Assets and Cyber Unit and credited his success to collaborative efforts. He plans to take a break and travel with his family before announcing his next endeavor. His departure marks a significant moment for the SEC, especially within the cryptocurrency sector.
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 the most impact with 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: Tether introduces 'Alloy by Tether,' a new digital asset backed by Tether Gold, designed to track the value of the US dollar through over-collateralization with physical gold stored in Switzerland. The first token in this series, aUSD₮, aims to provide stability and consistent value in the digital economy. This initiative is part of Tether's strategy to create collateralized synthetic digital assets and is supported by Moon Gold companies within the Tether Group.
Next news: Cumberland DRW, a digital asset trader, has obtained a BitLicense from the New York State Department of Financial Services (NYDFS), joining a select group of 33 licensed crypto firms. The company expressed satisfaction with this achievement, aiming to foster strong trading relationships with institutional partners in New York. The BitLicense system, established in 2015, has faced criticism for hindering innovation, prompting calls for its reassessment. Notably, Genesis Global Trading settled legal disputes by surrendering its BitLicense and paying $8 million for alleged investor fraud.
Next news: The zkSync token (ZK) launched with a total supply of 21 billion and a market cap of about $971 million, experiencing initial price fluctuations and network strain issues. Concurrently, scam activities targeted users, prompting efforts to enhance system capacities and address community concerns. On the other hand, the ZKsync token, priced at around $0.25, went live with a market cap of over $935 million and a fully diluted value of $5.3 billion. It is listed on multiple exchanges with concerns about malicious dapps targeting ZKsync.
Next news: According to a JPMorgan report, US-listed Bitcoin mining companies achieved a record market value of $22.8 billion by June 15. Key companies like Core Scientific, TeraWulf, and IREN saw stock increases of 117%, 80%, and 70% respectively, while Argo Blockchain faced a 7% decline. Marathon Digital leads as the largest U.S. Bitcoin mining firm with a $5.3 billion market value, followed by CleanSpark and Riot Platforms. The mining stocks surpassed Bitcoin performance in the first half of June, boosted by Core Scientific's AI deal with CoreWeave.
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: Binance's co-founder He Yi addressed concerns in a recent AMA with the Chinese community, discussing issues like wash trading, theft, listing high FDV projects, and criteria for delisting 'zombie coins.' She revealed emailing CZ daily, engaging in monotonous daily routines, and humorously mentioned 'girlfriend coins' as Binance explores new business models.
Next news: Coinbase is launching pre-launch markets for trading perpetual futures contracts on cryptocurrencies that have not yet been issued. This feature is available to both institutional and retail traders on Coinbase International Exchange and Coinbase Advanced. The new market aims to facilitate price discovery before token issuance, but it comes with risks such as lower liquidity and increased volatility.
Next news: The Australian Stock Exchange (ASX) has approved its first Bitcoin ETF, the VanEck Bitcoin ETF (VBTC), set to be listed on June 20th. This marks a significant milestone as it introduces the largest digital asset in an ETF format on ASX. The approval follows a delay attributed to the 2022 crypto winter, but interest was renewed after similar ETFs were launched in the US and Hong Kong. The listing is anticipated to meet growing investor demand for regulated Bitcoin investment options in Australia. Additionally, a similar Bitcoin ETF by Monochrome was launched on Cboe Australia earlier in June. The market response to these developments, especially in light of recent US ETF outflows and unchanged interest rates by the Fed, remains to be seen.
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.