SoSo Daily Jun 23

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on June 22, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.46 trillion US dollars, witnessing a decrease of 0.0654% compared to yesterday; the total trading volume is 38.81 billion US dollars, marking a decline of 52.5% from the previous day.

According to sosovalue, the price of $BTC is 64,262 USD, an increase of 0.185% from yesterday. The market cap of $BTC is 1.27 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 41.39 billion USD, making up 107% of the total trading volume.
The price of $ETH is 3,495.9 USD, down 0.643% from yesterday; the market cap of $ETH is 427.46 billion USD, representing 17.3% of the total market cap; $ETH's 24-hour trading volume is 21.65 billion USD, comprising 55.8% 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 162.8% 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 Rats. As of 23:55 today, its market cap is 110.47M, with a coin price of 0.00011047 USD, witnessing a 24-hour increase of 54.4%.
The second is Agility. As of 23:55 today, its coin price is 0.0032740 USD, with a 24-hour increase of 31.6%.
The third is Affyn. As of 23:55 today, its coin price is 0.035380 USD, showing a 24-hour increase of 29%.
In fourth place is NexGami. As of 23:55 today, its coin price is 0.026100 USD, with a 24-hour rise of 28.9%.
In fifth place is BEER. As of 23:55 today, its coin price is 0.000071700 USD, increasing by 28.5% 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, 5 are up and 11 are down. Notably, SocialFi, RWA, and AI sectors are worth mentioning.
SocialFi sector has risen 2.76% relative to the UTC 0 time, led by gains in moon (5.33%), ton (3.34%), and cbk (0.738%).
RWA sector has decreased -3.22% relative to UTC 0, with mkr (-5.23%), pro (-4.93%), and PRCL (-4.91%) leading the drop.
AI sector has fallen -4.63%, with vxv (-10.4%), trac (-8.61%), and fet (-7.49%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin spot ETFs experienced significant net outflows over the past week, with total outflows exceeding $900 million. Grayscale's GBTC and Fidelity's FBTC reported notable outflows, while BlackRock's IBIT recorded modest inflows. The trend of outflows coincides with market pressures on Bitcoin prices.
Next news: Eight spot Ethereum ETF applicants, including Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock, and Invesco, have submitted updated versions of their S-1 documents. Notably, Franklin set its fees at 0.19%, while VanEck announced a fee of 0.2%. BlackRock also disclosed a $10 million seed investment. The SEC is reviewing these filings, and a potential launch date for these ETFs is suggested for 2 July by Bloomberg analyst Eric Balchunas.
Next news: 21 million LINK flowed out of Chainlink's non-circulating supply contract, with 18.25 million transferred to Binance and 2.25 million to a multi-signature address. The total value of the unlocked LINK was $295 million, with $264 million going to Binance and $31.3 million to the multi-signature address. Chainlink has unlocked a total of 127 million LINK since August 2022, leaving 391.5 million LINK in 24 contracts.
Next news: Weekly project updates include the launch of ZK & ZRO airdrops this week, with the Blast Airdrop scheduled for next week. Additionally, ENA will join Symbiotic for re-staking activities.
Next news: Rapper 50 Cent's X account and website were hacked, leading to a $300 million loss in a fraudulent cryptocurrency scheme involving the promotion of the 'GUNIT' token and a subsequent rug pull. 50 Cent clarified his lack of association with the cryptocurrency and secured his account post-incident. This event reflects a trend of celebrities being targeted in crypto schemes, similar to incidents involving Caitlyn Jenner. 50 Cent's Twitter account was also hacked, resulting in the promotion of the meme coin 'GUNIT' and a $300 million fraud. The rapper disclaimed any involvement with the cryptocurrency and Twitter froze his account to prevent further misuse. 50 Cent's tweet about GUNIT tokens led to a market value surge, but he later revealed his account was hacked, distancing himself from the token.
Next news: Bitcoin's price dipped below key levels, raising concerns of a $60K correction. The short-term holder realized price fell below $64K, signaling a potential 8%-12% decline. Traders are wary as Bitcoin hovers around $65K, with speculations on its next move after recent events. Analysts suggest a possible massive upside rally amid the longest consolidation period. Network fundamentals could support a market cap three times its current size, potentially sustaining Bitcoin's price to $265,000.
Next news: Binance assists BtcTurk in investigation and freezes over $5.3 million in stolen funds. BtcTurk suspended all crypto deposits and withdrawals after a cyber attack. Binance's CEO Richard Teng announced the collaboration to resolve the issue, with ongoing updates from their security teams.
Next news: ZachXBT suggests a correlation between a large token transfer of 1.96 million AVAX to exchanges like Coinbase, Binance, and Gate and the 10% price drop in AVAX within 24 hours, reducing its value to $25.
Next news: Hong Kong establishes a Web3 and Virtual Asset Development Subcommittee to promote the industry's growth by collecting global insights, making policy recommendations, and positioning Hong Kong as a global hub for Web3. The initiative invites feedback from global industry builders to enhance investor protection, market confidence, and regulatory frameworks for virtual assets and DAOs.
Next news: Space ID initiated the first unlock of strategic sale tokens, releasing 26.667 million IDs valued at $11.92 million. The tokens were unlocked from a multi-signature contract address starting with 0x54, representing 8% of the total token supply. This strategic sale had an initial one-year lockup period, followed by quarterly releases over the next three years.

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.