SoSo Daily Jun 20

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM New York 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 0.409% compared to yesterday; the total trading volume is 73.87 billion US dollars, marking a decline of 40.5% from the previous day.

According to sosovalue, the price of $BTC is 64,980 USD, a decrease of 0.3% from yesterday. The market cap of $BTC is 1.28 trillion USD, accounting for 51.5% of the total market cap; $BTC's 24-hour trading volume is 29.41 billion USD, making up 39.8% of the total trading volume.
The price of $ETH is 3,561 USD, up 2.23% from yesterday; the market cap of $ETH is 435.43 billion USD, representing 17.5% of the total market cap; $ETH's 24-hour trading volume is 17.23 billion USD, comprising 23.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69% of the total cryptocurrency market cap, and their combined trading volumes constitute 63.1% 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 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is PolySwarm. As of 23:55 today, its market cap is 37.19M, with a coin price of 0.021540 USD, witnessing a 24-hour increase of 37.6%.
The second is Polkadex. As of 23:55 today, its coin price is 0.41490 USD, with a 24-hour increase of 35.9%.
The third is Strips Finance. As of 23:55 today, its coin price is 0.67310 USD, showing a 24-hour increase of 35.2%.
In fourth place is Turbo. As of 23:55 today, its coin price is 0.0049564 USD, with a 24-hour rise of 30.9%.
In fifth place is Degen. As of 23:55 today, its coin price is 0.010849 USD, increasing by 30.9% 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, 12 are up and 4 are down. Notably, AI, RWA, and DePIN sectors are worth mentioning.
AI sector has risen 12.3% relative to the UTC 0 time, led by gains in FET (26%), AGIX (23.6%), and OCEAN (22.3%).
RWA sector has increased 8.1% relative to UTC 0, with MKR (11.5%), OM (9.79%), and MPL (4.94%) leading the rise.
DePIN sector has risen 3.91%, with OCEAN (22.3%), WSI (21.1%), and ZCN (17.3%) 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, with no securities charges for $ETH sales. Consensys, a major player in Ethereum development, announced the closure of the SEC's investigation, marking a significant victory for Ethereum developers and industry participants. The decision follows ongoing concerns raised by Consensys regarding the classification of $ETH as a security.
Next news: Bitcoin spot ETFs in the U.S. have seen significant net outflows, with amounts reaching $145.9 million and $152.4 million on different days. Fidelity FBTC, Grayscale GBTC, and Bitwise BITB were major contributors to these outflows. The outflows have impacted Bitcoin's price and the broader crypto market, with continuous withdrawals affecting market dynamics.
Next news: Martin Shkreli claims involvement in the creation of the DJT token, a Trump-themed cryptocurrency, amidst controversies and investigations by crypto figures like ZachXBT and GCR. The token is priced at $0.0199 with a market value of $199 million, but warnings about risks associated with meme coins like DJT have been issued by BlockBeats.
Next news: Kraken, a cryptocurrency exchange, faced a $3 million extortion attempt by a self-proclaimed security researcher who exploited a bug to steal digital assets. The incident involved the researcher and two associated accounts withdrawing funds after discovering the bug on June 9. Kraken's Chief Security Officer labeled the act as extortion, with no user funds compromised. The situation is being treated as a criminal case, with law enforcement involved.
Next news: Montenegrin Prime Minister Milojko Spajic's early investment in Terraform Labs, the company behind the cryptocurrency Terra (LUNA), has been revealed through court documents released by the SEC. Spajic invested $75,000 in April 2018, just days before the company's official registration in Singapore. This disclosure contradicts his previous denials of personal investment in failed crypto projects, potentially leading to further complications for him. The collapse of Terraform Labs in May 2022 resulted in a significant $40 billion loss in the crypto market.
Next news: Bitwise has submitted an amended S-1 registration statement for its Ethereum spot ETF, revealing a $2.5 million seed investment and plans for Bitwise Investment Manager, LLC to purchase 100,000 initial shares at $25 each. Pantera Capital Management LP has expressed interest in buying up to $100 million worth of shares. Additionally, Bitwise has disclosed Pantera's interest in investing in its upcoming spot Ether ETF, with the potential investment amount ranging from over $100 million to possibly nothing.
Next news: The SEC has concluded its investigation into Ethereum, stating that $ETH is not a security and will not face any charges. This decision is a significant victory for Ethereum developers and industry participants. ConsenSys, a key player in the Ethereum community, emphasized that while this marks a major win, the battle is not entirely over. The investigation was part of efforts to determine if $ETH should be classified as a security, and the positive outcome is seen as a result of various factors, including the approval of spot $ETH ETFs and the easing of the crypto regulatory environment.
Next news: Jump Crypto has donated $10 million to the U.S. Political Action Committee (PAC) to support pro-cryptocurrency members in Congress. The Fairshake PAC, backed by the digital asset industry, has raised $169 million, becoming a significant campaign financing force for the 2024 election.
Next news: Bernstein predicts an increase in Bitcoin ETF inflows and institutional demand in Q3/Q4, with only 22% institutional participation in the spot Bitcoin ETF. Despite recent outflows, turbulent market conditions are viewed as new entry points for investors. Approval of the Bitcoin ETF on major platforms is expected later this year, potentially boosting institutional demand. Additionally, Bernstein anticipates institutional adoption of Bitcoin with upcoming ETF approvals from major wirehouses and large private bank platforms in the third and fourth quarters, marking a significant step towards institutional adoption of Bitcoin and related cryptocurrencies.
Next news: Binance introduces HODLer Airdrops for BNB holders through Simple Earn, offering airdropped tokens from projects planning to list on Binance. The program rewards long-term BNB holders with retrospective benefits based on their holdings. Binance will take snapshots of user balances to calculate average balances for distribution.

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.