SoSo Daily Jun 24

Let's turn our attention to today's overall Crypto market situation.
As of 12 PM Hong Kong time on June 24, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.36 trillion US dollars, witnessing a decrease of 4.47% compared to yesterday; the total trading volume is 79.06 billion US dollars, marking an increase of 130% from the previous day.

According to sosovalue, the price of $BTC is 61,310 USD, a decrease of 4.71% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 51.3% of the total market cap; $BTC's 24-hour trading volume is 6.34 billion USD, making up 8.02% of the total trading volume.
The price of $ETH is 3,321.1 USD, down 5.07% from yesterday; the market cap of $ETH is 406.09 billion USD, representing 17.2% of the total market cap; $ETH's 24-hour trading volume is 6.34 billion USD, comprising 8.02% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 16.04% 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 Autonolas (OLAS). As of 11:55 today, its market cap is 68.63M, with a coin price of 1.6532 USD, witnessing a 24-hour increase of 107%.
The second is NexGami (NEXG). As of 11:55 today, its coin price is 0.026100 USD, with a 24-hour increase of 28.9%.
The third is Pluton (PLU). As of 11:55 today, its coin price is 4.2200 USD, showing a 24-hour increase of 23%.
In fourth place is V.SYSTEMS (VSYS). As of 11:55 today, its coin price is 0.0015550 USD, with a 24-hour rise of 19%.
In fifth place is Aperture Finance (APTR). As of 11:55 today, its coin price is 0.069790 USD, increasing by 16.2% 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, 0 are up and 16 are down. Notably, Others, Meme, and RWA sectors are worth mentioning.
Others sector has fallen -6.33% relative to the UTC 0 time, led by declines in RSC (-100%), nu (-100%), and maro (-22.1%).
Meme sector has decreased -7.81% relative to UTC 0, with corgiai (-100%), wojak (-17%), and ordi (-13.5%) leading the drop.
RWA sector has fallen -8.2%, with PROPC (-10.8%), mkr (-10.4%), and PRCL (-10.3%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin's price experienced fluctuations, dropping below $63,000, $61,000, and $62,000 with declines ranging from 1.88% to 5.14% in 24 hours. Market data from OKX indicated the price briefly fell below these levels. Additionally, significant market liquidations totaling $150 million occurred as Bitcoin approached $62,000, coinciding with a 4% slump in the CoinDesk 20 index.
Next news: Dogecoin's recent price movements and market sentiment are analyzed, highlighting key factors such as technical indicators, funding rates, and correlation with Bitcoin. Despite price pressure, Futures traders remain bullish, with support and resistance levels identified. HODLers show strong holding behavior, indicating potential price stability. Dogecoin demonstrates resilience amid market volatility and analyst optimism for a potential uptrend.
Next news: Bitcoin whale transaction volume has dropped by more than 40% recently, coinciding with a decline in Bitcoin's price. The decrease in whale activity suggests a bearish sentiment in the market, with traders on derivatives exchanges adopting a risk-averse approach. Market analysts are monitoring the situation closely for potential impacts on Bitcoin's price movements.
Next news: Mt. Gox trustee to start repaying $BTC and BCH to creditors in July 2024, after losing 850,000 Bitcoin in investor funds. Repayments will be processed based on completed exchange and confirmation of information with cryptocurrency exchanges.
Next news: South Korea's Korea Institute of Finance (KIF) warns against the introduction of cryptocurrency spot ETFs due to economic risks such as inefficient resource allocation, increased financial market risks, and weakened financial stability. The report suggests that crypto ETFs could divert cash flow from local markets, reducing investment in local industries. However, it acknowledges the potential value of crypto ETFs if underlying cryptocurrencies become clearer financial assets.
Next news: Japanese company Metaplanet plans to issue $6.26 million in bonds to increase its Bitcoin holdings. The bonds, with a 0.5% annual interest rate, will be sourced from the proceeds of its second ordinary bond issuance. Metaplanet aims to hold Bitcoin long-term, with the new funds adding to its existing $BTC holdings. The move aligns with its 'Bitcoin-first, Bitcoin-only' strategy in response to economic challenges in Japan.
Next news: BlockBeats reported that SlowMist founder Yu Xian warned about increasing phishing attacks in the TON ecosystem. Due to the high freedom in the Telegram ecosystem, phishing links and bots are spreading through message groups. These attacks use airdrops and other deceptive methods to target users' TON wallets. Users with Anonymous Telegram Numbers are particularly at risk, as losing access to their Telegram account is possible if phished, unless they have enabled Two-Step Verification. Yu Xian advises users to be vigilant and take preventive measures against these phishing methods. The TON ecosystem, linked to Telegram's blockchain platform, is experiencing a surge in phishing attacks, as reported by SlowMist's founder. These attacks exploit the 'too free' nature of the Telegram ecosystem, allowing scammers easy access to message groups to distribute phishing links. The increase in phishing activities coincides with the rapid growth of TON-based projects in 2024, including the popular Toncoin and Notcoin. Security experts highlight the risks, especially for users with anonymous numbers on Telegram, which do not require SIM cards for account creation. Amidst this, the TON ecosystem's market capitalization has reached $19.2 billion, with a significant rise in the total value locked in its projects.
Next news: CoinShares International achieves a 116% return from the successful sale of its FTX claim, netting 31.32 million British pounds. The funds will be reinvested to enhance client services and pursue growth opportunities. CEO Jean-Marie Mognetti praises the team's diligence and expertise in resolving the FTX situation, aiming to strengthen the company's market position and drive innovation in the digital asset sector.
Next news: CoinShares' weekly report reveals a significant $584 million outflow from digital asset investments, with Bitcoin accounting for $630 million of the total. However, there were inflows of $98 million into various asset products, indicating investor interest in the altcoin market's perceived weakness as a buying opportunity.
Next news: Infrared Finance, a liquidity staking protocol in the Berachain ecosystem, receives an undisclosed investment from Binance Labs in a strategic financing round where Binance Labs is the sole investor. The funding marks a significant milestone for Infrared, with the announcement made by Raito Bear, the anonymous co-founder and CEO of Infrared.

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.