SoSo Daily Jun 28

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on June 28, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.38 trillion US dollars, witnessing a decrease of 1.43% compared to yesterday; the total trading volume is 81.01 billion US dollars, marking an increase of 11.3% from the previous day.

According to sosovalue, the price of $BTC is 60,828 USD, a decrease of 1.64% from yesterday. The market cap of $BTC is 1.20 trillion USD, accounting for 50.5% of the total market cap; $BTC's 24-hour trading volume is 21.17 billion USD, making up 26.1% of the total trading volume.
The price of $ETH is 3,386.2 USD, down 2.18% from yesterday; the market cap of $ETH is 406.96 billion USD, representing 17.1% of the total market cap; $ETH's 24-hour trading volume is 12.01 billion USD, comprising 14.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 40.9% 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 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Imaginary Ones (BUBBLE). As of 17:55 today, its market cap is 9.64M, with a coin price of 0.0070940 USD, witnessing a 24-hour increase of 51.5%.
The second is GameFi (GAFI). As of 17:55 today, its coin price is 6.6960 USD, with a 24-hour increase of 48.9%.
The third is SophiaVerse (SOPH). As of 17:55 today, its coin price is 0.042630 USD, showing a 24-hour increase of 37.2%.
In fourth place is DinoLFG (DINO). As of 17:55 today, its coin price is 0.013685 USD, with a 24-hour rise of 32.6%.
In fifth place is Quantstamp (QSP). As of 17:55 today, its coin price is 0.0017316 USD, increasing by 26.2% 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, all 16 are down. Notably, the Meme, DeFi, and AI sectors are worth mentioning.
The Meme sector has fallen -3.24% relative to the UTC 0 time, led by declines in corgiai (-100%), LOBO (-9.48%), and aidoge (-7.54%).
The DeFi sector has decreased -3.8% relative to UTC 0, with sure (-100%), cow (-100%), and rstk (-100%) leading the drop.
The AI sector has fallen -5.15%, with vxv (-8.82%), fet (-6.85%), and agix (-6.13%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Coinbase and Stripe partner to integrate USDC transfers on Base, enhancing crypto transactions and onboarding. The collaboration aims to facilitate cross-border transactions, provide fiat-to-crypto on-ramps, and boost global crypto adoption. This partnership signifies a return to crypto for Stripe and aims to enhance cryptocurrency payments and services.
Next news: VanEck, a pioneer in Bitcoin ETFs, has filed for the first Solana ETF in the US with the SEC. The proposed Vaneck Solana Trust aims to leverage Solana's decentralized nature, focusing on transaction fees and computational services. This move marks a significant step in providing regulated investment access to Solana's blockchain technology.
Next news: 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, Fidelity's FBTC ETF managed to record a net inflow of $31 million, signaling a potential shift in investor sentiment. The market faces volatility as Bitcoin prices dip below $60K, impacting the outflows from US spot Bitcoin ETFs.
Next news: The first 2024 US presidential debate between President Joe Biden and former President Donald Trump did not address the topic of cryptocurrency, despite significant financial efforts by the crypto industry to influence the elections. The debate focused on the economy, immigration, and foreign policy, with minimal mention of technology policy or the digital asset industry. This omission occurred as crypto-backed super PACs raised and spent millions during the election cycle.
Next news: Kraken co-founder Jesse Powell donates $1 million in Ether to Donald Trump's 2024 Presidential campaign, citing support for Trump's pro-crypto policies and criticizing regulatory approaches by figures like Elizabeth Warren and SEC Chair Gary Gensler. Powell emphasizes the need for the U.S. to maintain leadership in blockchain technology, aligning with Trump's stance on cryptocurrencies.
Next news: The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys, the parent company of MetaMask, for allegedly operating as an unregistered broker and engaging in the unregistered offer and sale of securities through MetaMask since 2020. The SEC claims that Consensys has collected over $250 million in fees from brokering crypto asset transactions and offering staking services without proper registration, depriving investors of crucial protections. The SEC is seeking a permanent injunction, civil penalties, and other equitable relief against Consensys for these violations of federal securities laws.
Next news: The latest US PCE data aligns with expectations, with the Core PCE Price Index showing a 2.6% annual increase, influencing the Fed's interest rate decisions. Bitcoin maintains its position above $61,000 despite recent declines. US equities rise while cryptocurrencies fall as inflation cools, with the Core PCE rising by 2.6% year-over-year, marking the slowest increase since 2021. Market reactions were positive for US equities but negative for Bitcoin and Ether.
Next news: Logan Paul files a defamation lawsuit against YouTuber Coffeezilla over false statements made in videos regarding Paul's CryptoZoo NFT project. The lawsuit alleges that Coffeezilla's claims of Paul running a scam were misleading and omitted crucial project details. Paul seeks damages exceeding $75,000 for the harm caused to his reputation.
Next news: T-Rex Group, a financial services firm, has applied for a highly volatile Microstrategy ETF that could be the most volatile in U.S. history, offering leveraged exposure to Bitcoin through Microstrategy. The ETF, dubbed the 'ghost pepper' of ETFs, is expected to expose investors to extreme volatility, with an estimated 20 times the typical volatility of the S&P 500. Bloomberg ETF analyst Eric Balchunas highlighted the high risk and volatility associated with this new ETF.
Next news: The first televised debate between Trump and Biden sparks significant drops in memecoins inspired by the candidates, reflecting their connection to political events and potential as indicators of candidate popularity. Various tokens like BODEN, TRUMP, MAGA, and MAGA Hat experienced notable declines during the debate, with implications for the regulatory landscape of cryptocurrencies in the U.S.

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.