SoSo Daily Jun 19

Let's turn our attention to today's overall Crypto market situation.
As of 12 PM Hong Kong time on June 19, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.49 trillion US dollars, witnessing an increase of 0.67% compared to yesterday; the total trading volume is 149.87 billion US dollars, marking an increase of 35.6% from the previous day.

According to sosovalue, the price of $BTC is 65,215 USD, a decrease of 0.231% from yesterday. The market cap of $BTC is 1.29 trillion USD, accounting for 51.7% of the total market cap; $BTC's 24-hour trading volume is 29.41 billion USD, making up 19.6% of the total trading volume.
The price of $ETH is 3,537.8 USD, up 3.62% from yesterday; the market cap of $ETH is 432.59 billion USD, representing 17.4% of the total market cap; $ETH's 24-hour trading volume is 17.23 billion USD, comprising 11.5% 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 31.1% 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 BEER. As of 11:55 today, its market cap is 105.96M, with a coin price of 0.00011920 USD, witnessing a 24-hour increase of 92.3%.
The second is Lido Staked SOL. As of 11:55 today, its coin price is 275.72 USD, with a 24-hour increase of 71.2%.
The third is Strips Finance. As of 11:55 today, its coin price is 0.75640 USD, showing a 24-hour increase of 46.3%.
In fourth place is Convex Finance. As of 11:55 today, its coin price is 3.9340 USD, with a 24-hour rise of 45.6%.
In fifth place is Degen. As of 11:55 today, its coin price is 0.011850 USD, increasing by 43% 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, AI, RWA, and DePIN sectors are worth mentioning.
AI sector has risen 9.3% relative to the UTC 0 time, led by gains in PAAL (19.3%), FET (13.1%), and AGIX (10.5%).
RWA sector has increased 5.71% relative to UTC 0, with MPL (9.65%), MKR (9.25%), and GFI (5.83%) leading the rise.
DePIN sector has risen 5.25%, with SHDW (30.8%), ZCN (17.2%), and WMT (14.1%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0, stating that the sale of $ETH will not be considered a securities transaction. Consensys, a key Ethereum infrastructure development company, welcomed this decision as a victory for Ethereum stakeholders. In a related development, the SEC closed its investigation into Consensys without pursuing legal action, marking the end of scrutiny over Ethereum's development and management.
Next news: Hashdex, a Brazilian asset manager, is making significant moves in the crypto fund landscape by submitting applications and proposals for various ETFs that combine Bitcoin and Ethereum. These ETFs aim to track specific indexes with different weightings for $BTC and $ETH, awaiting regulatory approval from the SEC. The strategies include market value-weighted, market cap weighted, and direct ownership of spot Bitcoin and Ether, with provisions for potential inclusion of other digital assets post-approval. Custody for the assets will be managed by reputable companies like Coinbase and BitGo. The final decisions on these ETFs are expected by early March 2025.
Next news: Bitwise has filed an amended S-1 registration statement for its Ethereum spot ETF with details of a $2.5 million seed investment and plans for share purchases. Pantera Capital Management LP is interested in buying up to $100 million worth of shares. The SEC has approved filings for eight Ether ETF bidders, signaling progress in potential trading on U.S. exchanges. The investigation into Ether's security status has concluded with no charges against Ethereum 2.0 sales.
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, facing a potential 8%-12% correction. Market conditions show lack of conviction and spoofing tactics in order book activity. Altcoin market also sees declines due to lack of news flow and market interest. Short-term investors may sell as Bitcoin's price lags, approaching crucial support levels.
Next news: Bitcoin spot ETFs in the U.S. witnessed significant net outflows, with Fidelity FBTC, Grayscale GBTC, and Bitwise BITB being major contributors. The total net outflow reached $145.9 million on June 18, and $152.4 million on June 19, marking consistent outflows for several days. The net asset ratio stood at 4.45% and 4.38% respectively. Source: SoSoValue
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: The SEC has closed its investigation into Ethereum, stating that it will not pursue charges regarding $ETH as securities. This decision is a significant win for Ethereum developers and industry players. Consensys, a prominent figure in the Ethereum community, highlighted that while this outcome is positive, the battle is not entirely resolved.
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.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.