SoSo Daily Jun 26

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on June 26, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.37 trillion US dollars, witnessing a decrease of 0.93% compared to yesterday; the total trading volume is 94.31 billion US dollars, marking a decline of 3.23% from the previous day.

According to sosovalue, the price of $BTC is 61,236 USD, a decrease of 0.237% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 51% of the total market cap; $BTC's 24-hour trading volume is 42.04 billion USD, making up 44.6% of the total trading volume.
The price of $ETH is 3,370 USD, down 0.556% from yesterday; the market cap of $ETH is 405.00 billion USD, representing 17.1% of the total market cap; $ETH's 24-hour trading volume is 23.59 billion USD, comprising 25% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 69.6% 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 17:55, according to sosovalue, the top five gainers are:
Top 1 gainer is Step Finance. As of 17:55 today, its market cap is 6.73M, with a coin price of 0.017870 USD, witnessing a 24-hour increase of 44.1%.
The second is Radworks. As of 17:55 today, its coin price is 1.6010 USD, with a 24-hour increase of 38.1%.
The third is Rats. As of 17:55 today, its coin price is 0.00013784 USD, showing a 24-hour increase of 26.1%.
In fourth place is Agility. As of 17:55 today, its coin price is 0.0031500 USD, with a 24-hour rise of 25.7%.
In fifth place is Bitcicoin. As of 17:55 today, its coin price is 0.00097390 USD, increasing by 22.5% 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, 2 are up and 14 are down. Notably, AI, DePIN, and Meme sectors are worth mentioning.
AI sector has risen 4.69% relative to the UTC 0 time, led by gains in FET (13%), AGIX (10.4%), and OCEAN (8.89%).
DePIN sector has decreased -3.13% relative to UTC 0, with NOS (-11.5%), AR (-10.8%), and SHDW (-8.03%) leading the drop.
Meme sector has fallen -3.72%, with CORGIAI (-100%), DEGEN (-7.82%), and LOBO (-6.93%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Solana introduces new transaction features called 'Actions' and 'Blinks' to enable crypto transactions on any website or app, emphasizing enhanced user experience and security. The Solana Foundation aims to simplify access to blockchain technology and promote mainstream adoption while cautioning about potential security risks. The ecosystem expansion includes a $60 million fund for Solana projects and the introduction of ZK Compression for cost reduction and scalability improvement.
Next news: SEC Chairman Gary Gensler reported smooth progress in the approval process for Ethereum Spot ETFs, emphasizing the importance of disclosures and registration. The exact release date remains uncertain, expected sometime this summer. Analysts are optimistic about potential approval in the near future.
Next news: U.S. Congressman Matt Gaetz introduces a bill to allow Federal Income Tax payments with Bitcoin, aiming to modernize the tax system and promote cryptocurrency adoption. The proposed legislation mandates the U.S. Treasury to develop a method for tax payments in Bitcoin, aligning with efforts to integrate digital currencies into the financial system.
Next news: Bitwise's CIO, Matt Hougan, forecasts $15 billion in net inflows for US Ethereum ETFs within 18 months of listing following the SEC's approval of 19b-4 forms for eight ETFs. The ETFs, including those from Bitwise, BlackRock, and Fidelity, are awaiting S-1 registration statements before trading can begin.
Next news: Cardano blockchain successfully thwarts DDoS attacks aimed at staked tokens, with quick responses and security upgrades ensuring no damage or theft occurred. The network remains secure, showcasing robust security measures amidst preparations for the Chang hard fork and transition to the Voltaire era.
Next news: VanEck has submitted a Form 8-A for a spot Ethereum ETF, hinting at a potential launch date in early July. This filing follows the approval of a spot Bitcoin ETF in the USA, with final S-1 approvals pending for the Ethereum ETFs. Bloomberg ETF analyst Eric Balchunas highlighted the significance of this filing, suggesting a launch around July 2 based on the observed timeline with Bitcoin ETFs.
Next news: US Bitcoin spot ETFs experienced significant net outflows, with Grayscale GBTC and Franklin Templeton's ETFs recording notable outflows. 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 $BTC spot ETFs was $174.45 million, marking seven consecutive days of outflows. Grayscale's GBTC led the outflows with $90.43 million in a single day, contributing to the historical net outflow of $18.45 billion. Despite the market downturn, Jonathan de Wet of ZeroCap remains optimistic about Bitcoin's long-term prospects.
Next news: Bitstamp, a cryptocurrency trading platform, will delist Tether's EURT and other stablecoins that do not comply with the new EU crypto asset law, MiCA, before the June 30 deadline. Non-euro-denominated stablecoins that do not meet the new regulations will face restrictions but will not be delisted. The platform will also refrain from listing or selling new tokens that do not comply with these regulations. Bitstamp aims to ensure compliance with MiCA by not listing new tokens that do not meet the standards. Other exchanges like Binance and Coinbase are also adjusting their policies in response to MiCA, with Binance restricting unauthorized stablecoins and Coinbase adopting a wait-and-see approach. The broader MiCA provisions will require crypto platforms to comply with additional licensing requirements starting December 30. Bitstamp was among the first exchanges to list Euro Tether back in November 2021.
Next news: 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: Animoca Brands, a prominent Web3 investor, is contemplating a listing in the Middle East or Hong Kong by 2025. The company has initiated talks with investment banks but has not finalized a financial advisor. This strategic move aims to potentially go public and expand its market presence.

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.