SoSo Daily Jun 19

Let's turn our attention to today's overall Crypto market situation.
As of 12:01 AM on June 19, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.47 trillion US dollars, witnessing a decrease of 2.45% compared to yesterday; the total trading volume is 124.06 billion US dollars, marking an increase of 37.9% from the previous day.

According to sosovalue, the price of $BTC is 65,151 USD, a decrease of 2.03% from yesterday. The market cap of $BTC is 1.28 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 3,483.2 USD, down 0.805% from yesterday; the market cap of $ETH is 425.92 billion USD, representing 17.2% of the total market cap; $ETH's 24-hour trading volume is 8.66 billion USD, comprising 6.98% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 17.18% 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 Imaginary Ones. As of 00:00 today, its market cap is 5.23M, with a coin price of 0.0062900 USD, witnessing a 24-hour increase of 23.3%.
The second is V.SYSTEMS. As of 00:00 today, its coin price is 0.0015550 USD, with a 24-hour increase of 19%.
The third is Market Making Pro. As of 00:00 today, its coin price is 0.10906 USD, showing a 24-hour increase of 16.6%.
In fourth place is Stader. As of 00:00 today, its coin price is 0.65980 USD, with a 24-hour rise of 15.3%.
In fifth place is Agility. As of 00:00 today, its coin price is 0.0032200 USD, increasing by 14.2% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 0 are up and 16 are down. Notably, GameFi, DePIN, and SocialFi sectors are worth mentioning.
GameFi sector has fallen -7.11% relative to the UTC 0 time, led by declines in hxro (-100%), nada (-16%), and ride (-15.5%).
DePIN sector has decreased -7.27% relative to UTC 0, with iotx (-16.7%), fil (-11.9%), and flux (-10.7%) leading the drop.
SocialFi sector has fallen -7.41%, with chz (-11.2%), gal (-9.23%), and 00 (-8.26%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Hashdex has submitted applications and proposals for various dual Ethereum and Bitcoin ETFs in the U.S., aiming to offer investors exposure to both cryptocurrencies. The ETFs are designed to be market value-weighted and may include provisions for adding other digital assets post-approval. The SEC is expected to make decisions on these ETFs by early March 2025. Hashdex's initiatives mark significant developments in the crypto fund landscape, following the approval of the first U.S. spot bitcoin ETFs.
Next news: Uphold, a crypto trading platform, is set to discontinue support for several stablecoins including USDT, DAI, FRAX, GUSD, USDP, and TUSD by July 1st in alignment with the new EU Markets in Crypto-Assets (MiCA) regulations. Users are required to convert these stablecoins to other cryptocurrencies by June 28th. This action is part of Uphold's adherence to the stricter regulatory framework introduced by MiCA to ensure stability and consumer confidence in digital currencies.
Next news: Rumors surrounding the DJT tokens, falsely linked to Donald Trump, caused significant market turbulence with losses exceeding $150 million. Various Trump-themed meme coins, including TREMP and MAGA (TRUMP), plummeted in value following the rumors. Despite the surge in DJT token price, doubts persist about its legitimacy and official ties to Trump.
Next news: Solana's Layer 2 network Sonic secures $12 million in Series A funding led by Bitkraft Ventures, bringing its total financing to $16 million. The funding round includes equity with token warrants, valuing Sonic at $100 million fully diluted. Bitkraft Ventures joins Sonic's board of directors post-investment. Sonic aims to enhance Solana's GameFi sector with its fast transaction capabilities and game-specific rollups.
Next news: Renzo, a liquidity re-pledge protocol, secures $17 million in funding rounds led by Galaxy Ventures and Nova Fund – BH Digital. The financing aims to enhance liquid restaking services on EigenLayer, simplifying and securing the restaking process for users. Renzo, integrated with over 100 DeFi platforms, allows users to deposit Ethereum-based tokens and participate in the EigenLayer ecosystem.
Next news: CleanSpark, a Bitcoin mining company, has acquired five mining farms in Georgia, USA, for $25.8 million. These farms have a total power of 60 megawatts. CleanSpark plans to install Antminer S21 Pro mining machines, which are expected to add 3.7 EH/s of computing power. Currently, CleanSpark is the third largest publicly listed Bitcoin mining company in the U.S., with a total computing power of about 17 EH/s and operating around 300MW of mining farms in Georgia. This acquisition is part of CleanSpark's strategy to reach a mid-year target of 20 EH/s and enhance its scale and operational efficiency in the competitive mining sector.
Next news: On June 18, the U.S. Bitcoin spot ETF recorded a net outflow of $145.9 million, with FBTC experiencing a net outflow of $92 million and IBIT reporting a net inflow of zero. The total net outflow for Bitcoin spot ETFs on June 17 was $145.83 million, with Grayscale's ETF GBTC having a net outflow of $2.96 million. Bitwise's ETF BITB had the highest net inflow of $2.91 million. The total net asset value of Bitcoin spot ETFs is $58.24 billion, with a net asset ratio of 4.45%. The historical cumulative net inflow for Bitcoin spot ETFs has reached $14.96 billion.
Next news: Bitcoin experiences fluctuations in price, dropping below $65,000 and then recovering above it with narrowed declines. Analysts forecast further downside as Bitcoin struggles to reclaim $65,000, shedding 3% in a day. The altcoin market also sees significant declines amid a lack of news flow and market interest. CryptoQuant analysts report Bitcoin falling below the critical support level of $65,800, risking an 8%-12% correction with a possible decline to $60,000 due to weak demand and slow stablecoin liquidity.
Next news: Dogecoin (DOGE) faced its largest liquidation wave since 2021, with $60 million in losses as long positions were liquidated. The event primarily impacted long position holders, with only $600,000 in short positions being liquidated. In a broader context, over $400 million in crypto longs were liquidated in the past 24 hours as major tokens experienced a significant decline.
Next news: A man in Taiwan has been charged for using the crypto betting platform Polymarket to wager on the 2024 elections. Prosecutors accused him of betting on the presidential and legislative outcomes, violating local laws against online election gambling. He admitted to the crime and received deferred prosecution, including a fine. The case sheds light on the challenges of crypto betting on elections, with potential penalties such as imprisonment and fines. Polymarket has faced regulatory hurdles globally, including a substantial fine in the U.S.

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.