SoSo Daily Jun 30

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on June 30, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.39 trillion US dollars, witnessing an increase of 0.335% compared to yesterday; the total trading volume is 42.41 billion US dollars, marking a decline of 34% from the previous day.

According to sosovalue, the price of $BTC is 61,560 USD, an increase of 0.749% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 50.9% of the total market cap; $BTC's 24-hour trading volume is 13.24 billion USD, making up 31.2% of the total trading volume.
The price of $ETH is 3,389.2 USD, down 0.331% from yesterday; the market cap of $ETH is 407.33 billion USD, representing 17.1% of the total market cap; $ETH's 24-hour trading volume is 5.95 billion USD, comprising 14% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68% of the total cryptocurrency market cap, and their combined trading volumes constitute 45.2% 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 SuiPad. As of 11:55 today, its market cap is 3.09M, with a coin price of 0.044680 USD, witnessing a 24-hour increase of 49.3%.
The second is MUMU THE BULL. As of 11:55 today, its coin price is 0.000019000 USD, with a 24-hour increase of 33.5%.
The third is XEN Crypto. As of 11:55 today, its coin price is 0.00000013230 USD, showing a 24-hour increase of 32%.
In fourth place is Shark Cat. As of 11:55 today, its coin price is 0.049290 USD, with a 24-hour rise of 21.9%.
In fifth place is Phala. As of 11:55 today, its coin price is 0.15340 USD, increasing by 20.6% 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, Others, and Meme sectors are worth mentioning.
AI sector has fallen -2.17% relative to the UTC 0 time, led by declines in WLD (-8.35%), PAAL (-6.37%), and TRAC (-4.3%).
Others sector has decreased -3.06% relative to UTC 0, with NU (-100%), RSC (-100%), and DORA (-6.31%) leading the drop.
Meme sector has fallen -3.2%, with CORGIAI (-100%), MOG (-16.9%), and DEGEN (-8.12%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:This week's project updates include the BLAST Airdrop launch, ZKsync's introduction of the new 'Elastic Chain' architecture, and Aevo's updates to tokenomics.
Next news: A US judge has allowed the SEC to proceed with most of its lawsuit against Binance, dismissing only parts related to secondary market BNB sales and Simple Earn. The lawsuit includes allegations of unregistered securities offerings and fraud related to Binance's initial token offering, BNB Vault, and pledge services. The legal battle between Binance and the U.S. Securities and Exchange Commission (SEC) is nearing a conclusion, with recent court developments potentially favoring Binance. Judge Amy Berman Jackson dismissed parts of the SEC's lawsuit against Binance and its founder, Changpeng Zhao, while allowing other charges to proceed. The SEC had filed multiple charges against Binance for securities law violations, including operating unregistered exchanges and engaging in unregistered sales of securities. Despite the mixed ruling, the crypto community remains optimistic, viewing the dismissal of a key SEC claim as a significant win for Binance.
Next news: The proportion of Bitcoin traded over weekends has hit an all-time low of 16% this year, as reported by cryptocurrency research firm Kaiko. This decline follows the introduction of spot Bitcoin exchange-traded-funds, aligning Bitcoin trading more with traditional equity exchanges' schedules and reducing its price volatility.
Next news: Folius Ventures released a comprehensive 22-page research report on Telegram x TON and the Catizen project, emphasizing their potential in the Web3 and app landscapes. The report, issued on June 28th, 2024, delves into the strengths and opportunities of both platforms. Telegram x TON is highlighted for its pivotal role in messaging and blockchain, with recent integrations indicating a promising future for enhanced user engagement and monetization. Catizen, a standout in the Telegram ecosystem, is positioned to emerge as a significant platform, potentially emulating the success of platforms like Steam. The analysis also identifies areas for enhancement in Telegram's infrastructure, viewing them as avenues for development.
Next news: The U.S. Securities and Exchange Commission (SEC) has returned the S-1 form to potential Ethereum spot ETF issuers for further revisions, with resubmission required by July 8. This delay follows minor comments on the forms, indicating additional filings are necessary before the ETF can commence trading. Despite earlier expectations of a possible launch by July 4, the timeline remains uncertain pending further SEC feedback. The approval process for Ether ETFs could extend until September.
Next news: The cryptocurrency sector witnessed legal battles and business developments this week. SEC Chair Gary Gensler encountered challenges with lawsuits from Coinbase and the FDIC over FOIA information handling. The SEC also sued Consensys, the maker of MetaMask, for fee collections. Logan Paul filed a defamation lawsuit against YouTuber CoffeeZilla. On the financial front, Wall Street expressed interest in Solana ETFs, and Vitalik Buterin invested in a new blockchain project. Venture capitalists revealed larger holdings in TON than previously disclosed.
Next news: Venture capitalists are showing strong interest in the TON token due to its integration with Telegram and market potential. Investors like Pantera Capital, Kingsway Capital, Ryze Labs, Animoca Brands, and Galaxy Ventures are attracted to the TON token for its ability to tap into Telegram's vast user base of nearly 900 million monthly active users. The TON blockchain is seen as having the potential to enable payments and create a WeChat-like ecosystem with mini-apps and crypto features. However, challenges such as regulatory scrutiny and reliance on Telegram's distribution through Apple and Google pose risks to the TON token's growth.
Next news: 21Shares and VanEck have filed for a spot Solana ETF, potentially impacting SOL's price akin to Bitcoin's surge post-ETF approval. GSR Markets analyzed scenarios estimating a 14% price increase for SOL compared to Bitcoin.
Next news: In New York, Reshmi Basu and Jill Shah report on the increasing disparities among creditors in distressed debt swaps. Additionally, there's an ongoing bidding war for the French IT firm Atos and a recent US Supreme Court ruling against Purdue Pharma. These developments highlight the growing divide in out-of-court restructurings between the more and less advantaged creditors.
Next news: VanEck has submitted the first-ever application for a Solana spot exchange-traded fund (ETF) in the United States, emphasizing Solana's high throughput, low fees, and robust security. The blockchain is seen as suitable for various applications like payments, trading, gaming, and social networking. Solana's combination of historical proof and proof-of-stake mechanisms allows for thousands of transactions per second, offering a superior user experience compared to Ethereum. Grayscale had previously launched the Solana Trust Fund in 2021 for institutional and high-net-worth investors.

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.