SoSo Daily Jun 27

Let's turn our attention to today's overall Crypto market situation.
As of 12 PM Hong Kong time on June 27, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.39 trillion US dollars, witnessing an increase of 0.189% compared to yesterday; the total trading volume is 66.66 billion US dollars, marking a decline of 29.2% from the previous day.

According to sosovalue, the price of $BTC is 61,202 USD, a decrease of 0.396% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 50.6% of the total market cap; $BTC's 24-hour trading volume is 21.55 billion USD, making up 32.3% of the total trading volume.
The price of $ETH is 3,403.5 USD, up 0.651% from yesterday; the market cap of $ETH is 409.02 billion USD, representing 17.1% of the total market cap; $ETH's 24-hour trading volume is 10.92 billion USD, comprising 16.4% 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 48.7% 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 Beta Finance. As of 11:55 today, its market cap is 81.61M, with a coin price of 0.10221 USD, witnessing a 24-hour increase of 140%.
The second is ECOx. As of 11:55 today, its coin price is 0.10277 USD, with a 24-hour increase of 37.1%.
The third is Zephyr Protocol. As of 11:55 today, its coin price is 4.0680 USD, showing a 24-hour increase of 33.5%.
In fourth place is Buying.com. As of 11:55 today, its coin price is 0.024090 USD, with a 24-hour rise of 26.5%.
In fifth place is Mdex (HECO). As of 11:55 today, its coin price is 0.049530 USD, increasing by 25.9% 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, 4 are up and 12 are down. Notably, RWA, SocialFi, and AI sectors are worth mentioning.
RWA sector has risen 3.53% relative to the UTC 0 time, led by gains in MKR (7.49%), PRO (4.63%), and LTO (3.79%).
SocialFi sector has increased 3.07% relative to UTC 0, with MOON (5.86%), XTM (4.5%), and TON (3.6%) leading the rise.
AI sector has fallen -4.42%, with VXV (-8.82%), MOOV (-8.12%), and OCEAN (-7.8%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:US Bitcoin spot ETFs experienced significant net outflows in recent days, 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 reached $174.45 million, marking a consistent trend of outflows. Despite this, there was a positive shift with a net inflow of $31 million on June 26, indicating a potential change in investor sentiment.
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: Cryptocurrency platform 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: Marathon Digital has diversified its revenue by mining $15 million worth of Kaspa tokens, earning 93 million KAS tokens since September 2023. Despite the focus on Bitcoin, Marathon's venture into Kaspa mining has proven profitable, with efficient mining machines offering up to 95% efficiency. The firm clarifies that this move does not signify a shift away from Bitcoin, as it continues to prioritize Bitcoin mining alongside Kaspa.
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: Bitwise's Chief Information Investment Officer, Matt Hougan, predicts that the US spot Ethereum ETF could attract $15 billion in net inflows within the first 18 months of its listing. The SEC approved 19b-4 forms for eight spot Ethereum ETFs from companies like Bitwise, BlackRock, and Fidelity, but S-1 registration statements are pending for trading to commence.
Next news: Bitcoin's price fluctuated around $61,000 following news that the U.S. government transferred approximately 3,940 $BTC to Coinbase, indicating a potential sale. Market reactions have been mixed, with some traders expecting an increase in market supply and others closing their long positions. The U.S. still holds over 213,500 $BTC, while recent institutional data shows a modest increase in Bitcoin ETF inflows, suggesting continued interest despite the sell-offs. The founder of CryptoQuant mentioned that the US government's deposit of 3,940 $BTC into Coinbase Prime is not expected to have a significant impact on the market. Coinbase Prime handles varying amounts of $BTC liquidity daily, from 6,000 to 49,000 $BTC, based on spot ETF inflows.
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.
Next news: Animoca Brands, a major player in gaming and the metaverse, is considering a public market return in 2025 after being delisted in Australia in 2020. The company is exploring listing options in Hong Kong or the Middle East and engaging with investment banks for the process. Animoca has also been exploring alternative funding sources, including tokenizing a Stradivarius violin for a loan with Galaxy Digital. The company's valuation has fluctuated significantly, reaching nearly $6 billion in 2022 and dropping below $2 billion in 2023.
Next news: South Korean crypto investment firm, Hashed Ventures, partners with Hub71 in Abu Dhabi to introduce Korean startups to the UAE, focusing on fintech and digital assets. The firm plans to open an office and raise funds in Abu Dhabi, capitalizing on the city's favorable regulatory environment for digital assets.

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.