SoSo Daily Jun 26

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on June 25, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.4 trillion US dollars, witnessing an increase of 2.55% compared to yesterday; the total trading volume is 82.51 billion US dollars, marking a decline of 29.2% from the previous day.

According to sosovalue, the price of $BTC is 61,806 USD, an increase of 2.51% from yesterday. The market cap of $BTC is 1.22 trillion USD, accounting for 50.8% of the total market cap; $BTC's 24-hour trading volume is 10.75 billion USD, making up 13% of the total trading volume.
The price of $ETH is 3,395 USD, up 1.26% from yesterday; the market cap of $ETH is 407.99 billion USD, representing 17% of the total market cap; $ETH's 24-hour trading volume is 8.95 billion USD, comprising 10.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 23.8% 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 MICHI. As of 23:55 today, its market cap is 87.26M, with a coin price of 0.15700 USD, witnessing a 24-hour increase of 40.6%.
The second is WEMIX. As of 23:55 today, its coin price is 1.4346 USD, with a 24-hour increase of 40.4%.
The third is TARS Protocol. As of 23:55 today, its coin price is 0.14311 USD, showing a 24-hour increase of 39.9%.
In fourth place is Ultiverse. As of 23:55 today, its coin price is 0.038270 USD, with a 24-hour rise of 37.6%.
In fifth place is Lifeform. As of 23:55 today, its coin price is 0.23006 USD, increasing by 33.7% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 16 are up and 0 are down. Notably, RWA, Meme, and DePIN sectors are worth mentioning.
RWA sector has risen 5.96% relative to the UTC 0 time, led by gains in klima (30.3%), mkr (7.75%), and pro (6.56%).
Meme sector has increased 5.87% relative to UTC 0, with wojak (27.1%), popcat (24.4%), and FOXY (21.6%) leading the rise.
DePIN sector has risen 2.8%, with shdw (22.6%), nos (15.9%), and blz (15.1%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Colosseum, a Solana ecosystem accelerator, has raised $60 million to fund early-stage projects and support startups within the Solana ecosystem. The accelerator has already invested $250,000 in 11 companies and aims to provide pre-seed investments, mentorship, and access to a network of venture funds. Colosseum's efforts have significantly contributed to the growth and innovation in the blockchain space, originating many startups from its hackathons. The fund was oversubscribed and will focus on investing in selected startups from Solana hackathon winners.
Next news: VanEck has submitted the 8-A form for a spot Ethereum ETF, indicating a potential launch date around July 2, following a similar process to their Bitcoin ETF submission. Bloomberg ETF analyst Eric Balchunas highlighted the significance of this filing in the approval process. The approval timeline for the Ethereum ETFs is pending final S-1 approvals, crucial for trading to commence in early July.
Next news: The German government has been actively involved in transferring significant amounts of Bitcoin to exchanges like Coinbase and Kraken. These transactions have raised concerns about potential impacts on the market, especially considering the government's substantial Bitcoin holdings valued at over $2.8 billion. Despite recent market fluctuations and intense sales by Bitcoin miners, the government's transfers do not seem to have a significant effect on Bitcoin's price, which remains around $60,800.
Next news: Grayscale GBTC and Franklin Templeton's ETFs, along with other US Bitcoin spot ETFs, have been experiencing significant net outflows in recent days. Grayscale GBTC saw a net outflow of $90.4 million, while Franklin Templeton's Bitcoin spot ETF EZBC had a net outflow of $20.9 million. The total net outflow for Bitcoin spot ETFs reached $174.45 million, marking seven consecutive days of outflows. Grayscale recorded the largest outflow of $517.3 million, with IBIT being the only ETF reporting net inflows. Despite market downturns, experts like Jonathan de Wet of ZeroCap remain optimistic about Bitcoin's long-term potential, although short-term price drops are anticipated.
Next news: Solana introduces new transaction features named 'Actions' and 'blinks' to enable on-chain crypto transactions on any website or application. These tools allow users to perform transactions directly from webpages, social media, or QR codes, enhancing user experience and security with wallet support and safety measures. The Solana Foundation emphasizes mainstream adoption of blockchain technology while cautioning about potential security risks. The ecosystem expansion includes a $60 million venture fund and the introduction of ZK Compression to reduce costs and improve scalability.
Next news: Congressman Matt Gaetz introduced a bill in the USA to allow Federal Income Tax payment with Bitcoin, amending the Internal Revenue Code of 1986. The proposed amendment would authorize the Treasury to develop a method for tax payments in Bitcoin, potentially increasing cryptocurrency adoption in the United States. This move reflects broader legislative efforts to integrate digital currencies into the U.S. financial system.
Next news: CoinShares reports a significant outflow of $584 million from digital asset investments last week, with Bitcoin alone experiencing $630 million in outflows. However, there were inflows of $98 million into multiple asset products, indicating investor interest in the altcoin market. This trend suggests a strategic shift in investment preferences within the cryptocurrency space.
Next news: Bitcoin's price fluctuates as it drops below $59,000, recovers above $61,000, and then surpasses $62,000 amid market volatility and external pressures. The recovery is influenced by factors like market dynamics, technical indicators, and concerns from Mt. Gox bankruptcy proceedings. Traders are monitoring resistance levels and potential long liquidations, while investors and analysts closely observe the market's response to these developments.
Next news: A series of significant PEPE transfers by a whale to Binance have been observed, impacting the asset's value and the whale's holdings. The transfers involve billions of PEPE tokens worth millions of dollars, with potential losses and retained assets highlighted.
Next news: Bitcoin's price experiences fluctuations and drops below $60,000 amidst market uncertainty and bearish trends. Derivatives data indicates a shift to a neutral sentiment, with concerns over macroeconomic factors and potential large sell-offs. Analysts speculate on the market's future direction amid fears of a prolonged bear market. The article emphasizes the need for caution and research in investment decisions.

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.