Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on June 18, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.49 trillion US dollars, witnessing a decrease of 2.36% compared to yesterday; the total trading volume is 123.61 billion US dollars, marking an increase of 127% from the previous day.
According to sosovalue, the price of $BTC is 65,608 USD, a decrease of 1.12% from yesterday. The market cap of $BTC is 1.29 trillion USD, accounting for 51.9% of the total market cap; $BTC's 24-hour trading volume is 12.65 billion USD, making up 10.2% of the total trading volume.
The price of $ETH is 3,446 USD, down 3.58% from yesterday; the market cap of $ETH is 414.05 billion USD, representing 16.6% of the total market cap; $ETH's 24-hour trading volume is 8.66 billion USD, comprising 7.01% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 17.21% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is PepeFork. As of 05:55 today, its market cap is 67.77M, with a coin price of 0.00000020510 USD, witnessing a 24-hour increase of 22.1%.
The second is V.SYSTEMS. As of 05:55 today, its coin price is 0.0015550 USD, with a 24-hour increase of 19%.
The third is Undead Blocks. As of 05:55 today, its coin price is 0.15393 USD, showing a 24-hour increase of 16.7%.
In fourth place is Velodrome Finance. As of 05:55 today, its coin price is 0.11250 USD, with a 24-hour rise of 15.3%.
In fifth place is aelf. As of 05:55 today, its coin price is 0.41420 USD, increasing by 12.9% 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, 0 are up and 16 are down. Notably, DePIN, Meme, and AI sectors are worth mentioning.
DePIN sector has fallen -11.3% relative to the UTC 0 time, led by declines in AVIVE (-19.5%), dvpn (-15.3%), and fil (-14.3%).
Meme sector has decreased -11.8% relative to UTC 0, with corgiai (-100%), dino (-30.2%), and DEGEN (-21.3%) leading the drop.
AI sector has fallen -12.4%, with wld (-16.9%), AI (-16.1%), and nfp (-15.9%) 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's (SEC) Crypto Asset and Cyber Unit, has resigned after nearly nine years of service. During his tenure, Hirsch led significant investigations and enforcement actions in the cryptocurrency sector, including cases against major crypto entities like Binance and Coinbase. His departure raises questions about the future direction of SEC's crypto regulation under his successor.
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: Coinbase introduces Pre-Launch Markets for trading futures on unreleased cryptocurrencies, offering institutional and retail traders the opportunity to speculate on upcoming tokens' values before their official launch. The feature includes risk factors like lower liquidity and increased volatility, with eligibility limited to traders outside the U.S., Canada, and the UK.
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: 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.
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: Uncertainty surrounds the connection between Donald Trump and the Solana chain meme coin DJT, as industry sources suggest Trump's associates have been considering launching a digital currency. Trump reportedly owns MAGA and TROG tokens, although they are not directly linked to his business ventures or presidential campaign. On the other hand, an unconfirmed report links former President Trump to the surge of the 'DJT' Solana token, with Barron Trump allegedly leading the initiative. The report lacks disclosure of its sources.
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.