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SoSo Daily Jun 27

SoSo AI Podcast
3KWords
Jun 27, 2024

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 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 1.28% compared to yesterday; the total trading volume is 79.77 billion US dollars, marking a decline of 3.33% from the previous day.

According to sosovalue, the price of $BTC is 60,854 USD, a decrease of 1.51% from yesterday. The market cap of $BTC is 1.20 trillion USD, accounting for 50.6% of the total market cap; $BTC's 24-hour trading volume is 42.04 billion USD, making up 52.7% of the total trading volume.
The price of $ETH is 3,370.6 USD, down 0.739% from yesterday; the market cap of $ETH is 405.08 billion USD, representing 17.1% of the total market cap; $ETH's 24-hour trading volume is 23.59 billion USD, comprising 29.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 82.3% 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 Step Finance. As of 23:55 today, its market cap is 6.30M, with a coin price of 0.016720 USD, witnessing a 24-hour increase of 34.2%.
The second is Radworks. As of 23:55 today, its coin price is 1.4860 USD, with a 24-hour increase of 27.2%.
The third is Buying.com. As of 23:55 today, its coin price is 0.024910 USD, showing a 24-hour increase of 24.1%.
In fourth place is Beta Finance. As of 23:55 today, its coin price is 0.052770 USD, with a 24-hour rise of 23.5%.
In fifth place is Lifeform. As of 23:55 today, its coin price is 0.27304 USD, increasing by 21.2% 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, 3 are up and 13 are down. Notably, AI, DePIN, and Meme sectors are worth mentioning.
AI sector has risen 4.25% relative to the UTC 0 time, led by gains in FET (11.9%), AGIX (9.88%), and OCEAN (9.3%).
DePIN sector has decreased -2.97% relative to UTC 0, with AR (-9.72%), NOS (-9.07%), and FLUX (-5.11%) leading the drop.
Meme sector has fallen -3.88%, with CORGIAI (-100%), LOBO (-8.09%), and PEOPLE (-6.4%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Cardano blockchain successfully defended against multiple DDoS attacks aimed at stealing staked ADA tokens. Developers swiftly responded, preventing any token theft or network disruptions. Security upgrades and preparations for the Chang hard fork demonstrate Cardano's resilience and commitment to enhancing network security.
Next news: The US State Department has announced a $5 million reward for information leading to the arrest of OneCoin founder Ruja Ignatova, also known as the 'Queen of Cryptocurrency.' Ignatova is wanted for her involvement in a cryptocurrency Ponzi scheme that defrauded investors of approximately $4 billion. She disappeared in Athens in 2017, and the reward is part of the Transnational Organized Crime Rewards Program.
Next news: SEC Chairman Gary Gensler reports smooth progress in the approval process for Ethereum Spot ETFs, emphasizing the importance of asset managers making full disclosures for effective registration. The SEC has approved 19b-4 filings from eight ETF bidders, with analysts suggesting approval could come as early as next week. Gensler refrains from commenting on political implications related to crypto and highlights compliance with existing laws for crypto securities.
Next news: US spot Bitcoin exchange-traded funds (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 experienced 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. Despite this, Fidelity's FBTC ETF reported a net inflow of $43.1 million. The market downturn led by Mt. Gox creditors' repayments may cause short-term price drops in Bitcoin.
Next news: Abra and its CEO, Bill Barhydt, have settled with 25 U.S. states over licensing violations, agreeing to return up to $82.1 million to customers. The settlement, led by Washington, concludes an investigation by a group of state regulators into Abra's unlicensed operations. Abra will also cease certain business activities in these states for five years. Additional states may join the settlement as it concludes.
Next news: The US government has transferred a significant amount of Bitcoin to Coinbase, with varying reports stating the transfer as 4,000 $BTC or approximately 3,940 BTC. These Bitcoins were seized from individuals involved in illegal activities, including Banmeet Singh, a convicted drug trafficker. The transfer is part of the government's efforts to manage seized cryptocurrency assets, with the total value of their Bitcoin holdings estimated at $13 billion. Market concerns have arisen regarding potential sell-offs by governments, influenced by actions like the German government's and the Mt. Gox bankruptcy proceedings.
Next news: A Florida judge has sentenced Michael Kane, the former CEO of Hydrogen Technology Corporation, to 45 months in prison for securities fraud related to a crypto price manipulation scheme. Shane Hampton, the company's former Head of Financial, also received a 35-month sentence for similar crimes. This case marks the first federal criminal trial where a cryptocurrency was recognized as a security, setting a precedent for future prosecutions in the cryptocurrency market. The U.S. Securities and Exchange Commission (SEC) had previously sued Kane and his company in 2022, leading to a civil penalty of $2.8 million. The case highlights the SEC's ongoing efforts to regulate the cryptocurrency market, including its recent decision not to classify Ether as a security. Two men were sentenced for their roles in a multi-million dollar fraud involving the cryptocurrency HYDRO, according to the U.S. Department of Justice. Shane Hampton, 32, from Philadelphia, received a sentence of two years and eleven months, while Michael Kane, 39, from Miami, was sentenced to three years and nine months. The fraud involved manipulating securities prices and deceiving investors into purchasing HYDRO, a cryptocurrency developed by Hydrogen Technology. Two men in the U.S. have been sentenced for their roles in a multi-million dollar cryptocurrency fraud scheme. Shane Hampton and Michael Kane were found guilty of manipulating securities prices and orchestrating a complex investment fraud involving 'wash trading' and 'spoof trading' to artificially inflate the price of HYDRO cryptocurrency. Their fraudulent activities led to significant profits from unsuspecting investors. Additionally, two accomplices, Andrew Chorlian and Tyler Ostern, have also pleaded guilty and been sentenced for related charges. The US Department of Justice (DOJ) has sentenced two former executives of Hydrogen Technology for manipulating the price of their cryptocurrency, HYDRO, and defrauding investors. Michael Kane, co-founder and former CEO, received a sentence of 3 years and 9 months, while senior manager Shane Hampton received 2 years and 11 months. The DOJ revealed that they collaborated with Moonwalkers Trading Ltd. to execute fake trades worth over $7 million through bots, artificially inflating HYDRO's price and profiting around $2 million from these manipulations. This case marks the first criminal jury trial to classify a cryptocurrency as a security and to recognize price manipulation of cryptocurrency as securities fraud. DOJ: Two men were sentenced for manipulating the price of a security and scheming to defraud investors in connection with the purchase of Hydrogen Technology’s cryptocurrency, HYDRO. “In this case, for the first time, a jury in a federal criminal trial found that a cryptocurrency was a security and that manipulating cryptocurrency prices was securities fraud.
Next news: Julian Assange, the founder of WikiLeaks, has received significant Bitcoin donations totaling over 8 $BTC to support his journey to freedom. These donations, along with fiat currency contributions, have helped clear his debts, allowing him to return home debt-free after 14 years of legal battles and extradition efforts. Assange, who was released from Belmarsh prison in the UK after a plea agreement with the U.S., has also received substantial fiat donations amounting to over $380,000. A Bitcoin enthusiast and a Bitcoin whale were among the key contributors to Assange's financial support, aiding his return to Australia.
Next news: Over $10 billion in Bitcoin and Ethereum options are set to expire this Friday on Deribit, representing a significant portion of the total notional option open interest. Traders anticipate a bullish trend for both cryptocurrencies in the upcoming month. Renewed bullishness is expected after the $10 billion options expiry, with over 25% set to expire "in the money." Option investors show optimism for potential new highs in Bitcoin and Ethereum markets, driven by factors like US interest rate cuts and ETF inflows. The expiry of $9.25 billion in Bitcoin options this week will test the market's bullish sentiment, revealing the future direction influenced by macroeconomic data and market dynamics.
Next news: The article discusses classic theft cases encountered by airdrop hunters on OKX WEB3 and provides insights on how to prevent such incidents. It highlights the importance of vigilance and security measures to safeguard against potential theft during airdrop activities.

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.

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