SoSo Daily Jun 19

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on June 19, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.51 trillion US dollars, witnessing an increase of 1.11% compared to yesterday; the total trading volume is 104.31 billion US dollars, marking a decline of 15.6% from the previous day.

According to sosovalue, the price of $BTC is 65,434 USD, a decrease of 0.247% from yesterday. The market cap of $BTC is 1.29 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 29.41 billion USD, making up 28.2% of the total trading volume.
The price of $ETH is 3,552.2 USD, up 3.11% from yesterday; the market cap of $ETH is 434.35 billion USD, representing 17.3% of the total market cap; $ETH's 24-hour trading volume is 17.23 billion USD, comprising 16.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 44.7% 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 2024/06/19 05:55, according to sosovalue, the top five gainers are:
Top 1 gainer is Petals (PTS). As of today, its market cap is 8.71M, with a coin price of 0.00061650 USD, witnessing a 24-hour increase of 36.3%.
The second is Lido Staked SOL (STSOL). As of today, its coin price is 215.01 USD, with a 24-hour increase of 35.3%.
The third is Convex Finance (CVX). As of today, its coin price is 3.8880 USD, showing a 24-hour increase of 31.7%.
In fourth place is Imaginary Ones (BUBBLE). As of today, its coin price is 0.0060340 USD, with a 24-hour rise of 30.4%.
In fifth place is Market Making Pro (MMPRO). As of today, its coin price is 0.11961 USD, increasing by 30.2% 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, 13 are up and 3 are down. Notably, RWA, AI, and DePIN sectors are worth mentioning.
RWA sector has risen 6.63% relative to the UTC 0 time, led by gains in MKR (10.8%), GFI (8.71%), and POLYX (5.23%).
AI sector has increased 5.91% relative to UTC 0, with VXV (13.5%), RNDR (10.3%), and DBC (10.3%) leading the rise.
DePIN sector has risen 5.44%, with WSI (24%), AR (13.1%), and WMT (12.1%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:On June 18, the U.S. Bitcoin spot ETF experienced a significant net outflow of $145.9 million, with FBTC seeing a net outflow of $92 million and IBIT reporting a net inflow of zero. The total net outflow of Bitcoin spot ETFs on June 17 was $146 million, with FBTC outflowing $92 million and ARKB outflowing $50 million. The $BTC spot ETF had a total net outflow of $145.83 million, with Grayscale's ETF GBTC experiencing a net outflow of $2.96 million. Bitwise's ETF BITB had the highest net inflow for the day at $2.91 million. The total net asset value of Bitcoin spot ETFs stands at $58.24 billion, with the net asset ratio reaching 4.45%.
Next news: 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: 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: Brazil's Federal Revenue is taking action to investigate potential tax liabilities and illegal activities involving Brazilians on foreign cryptocurrency exchanges. The authorities plan to issue ordinances, request data, and subpoena exchanges to ensure compliance with tax laws and collect owed taxes. Notable exchanges like Binance, Coinbase, OKX, and KuCoin will be affected by these measures.
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: 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: 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.

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.