SoSo Daily Jul 1

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on June 30, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.43 trillion US dollars, witnessing an increase of 2.85% compared to yesterday; the total trading volume is 51.77 billion US dollars, marking an increase of 27.8% from the previous day.

According to sosovalue, the price of $BTC is 62,772 USD, an increase of 2.93% from yesterday. The market cap of $BTC is 1.24 trillion USD, accounting for 50.8% of the total market cap; $BTC's 24-hour trading volume is 15.76 billion USD, making up 30.4% of the total trading volume.
The price of $ETH is 3,437.8 USD, up 1.75% from yesterday; the market cap of $ETH is 413.18 billion USD, representing 17% of the total market cap; $ETH's 24-hour trading volume is 7.68 billion USD, comprising 14.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.8% 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 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Subsquid. As of 23:55 today, its market cap is 0E-8, with a coin price of 0.14380 USD, witnessing a 24-hour increase of 50.6%.
The second is SuiPad. As of 23:55 today, its coin price is 0.038560 USD, with a 24-hour increase of 26.9%.
The third is Shark Cat. As of 23:55 today, its coin price is 0.055260 USD, showing a 24-hour increase of 26.6%.
In fourth place is LayerZero. As of 23:55 today, its coin price is 3.4580 USD, with a 24-hour rise of 24.6%.
In fifth place is Rejuve.AI. As of 23:55 today, its coin price is 0.018090 USD, increasing by 22.1% 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, 15 are up and 1 is down. Notably, AI, RWA, and DePIN sectors are worth mentioning.
AI sector has risen 5.49% relative to the UTC 0 time, led by gains in rjv (27.4%), soph (19.2%), and nos (9.3%).
RWA sector has increased 4.64% relative to UTC 0, with om (9.81%), PROPC (7%), and PRCL (6.6%) leading the rise.
DePIN sector has risen 4.06%, with rad (11.3%), nos (9.3%), and lpt (8.51%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The proportion of Bitcoin traded over weekends has reached an all-time low of 16% this year, attributed to the launch of spot Bitcoin exchange-traded funds (ETFs) aligning Bitcoin trading with traditional stock exchange schedules and reducing price volatility. This decline in weekend trading volumes marks a significant shift from the previous trend of high weekend trading activity. The introduction of ETFs, along with banking changes impacting market makers, has contributed to the decreased weekend transaction volumes, indicating Bitcoin's evolving market dynamics and maturation as an asset.
Next news: South Korea prepares to implement the "Virtual Asset User Protection Act" while HKUST Vice President Wang Yang criticizes the mining ban. Catch up on the top 10 crypto news highlights from June 24th to June 30th in Asia.
Next news: Bitcoin faces challenges in maintaining the $60,000 support level amidst market fluctuations and significant liquidations. Experts express confidence in Bitcoin's stability at $60,000, citing reduced selling activity and increased accumulation by investors. The cryptocurrency market sees broad declines, with Bitcoin struggling to hold above $61,000. Despite the downturn, analysts predict potential movements and stabilization above critical price ranges. Bitcoin's price volatility peaks ahead of key timeframe closures, hitting $61,500, while the overall cryptocurrency market faces turbulence with projections of Bitcoin testing $73,000 amid challenges.
Next news: In July, the cryptocurrency market anticipates significant token unlocks exceeding $1 billion, with ALT, XAI, and WLD leading the way. ALT's single unlock of $127.25 million represents 42.08% of its circulating supply, while WLD will unlock $18.40 million daily. The total unlocking value surpasses $730 million, with WLD unlocking $18 million daily for 730 days starting July 24.
Next news: The transactions involving Runes on the Bitcoin blockchain have drastically declined by over 88% this month, impacting miner revenue and fees. Daily averages have fallen from 331,040 to 37,820, leading to a significant drop in Bitcoin miner earnings from Runes transactions to less than 2 Bitcoin in the last six days, compared to 884 Bitcoin on April 24. This decline in transactions and fees is affecting Bitcoin miners' revenue, exacerbated by the recent halving event reducing block subsidies. Moreover, Bitcoin miner reserves have hit a 14-year low, indicating financial strains within the Bitcoin mining industry.
Next news: Toncoin [TON] has surged, surpassing key EMAs after a bullish run, hitting a new high of $8.24. However, indicators like OBV divergence and negative funding rates hint at a potential reversal or consolidation. Caution is advised as the market signals both continuation and reversal possibilities.
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: BlockBeats news reported that Vitalik Buterin's $ETH holdings, tracked by Arkham on a social platform, have exceeded $800 million from an initial value of around $500 million at the beginning of the year, attributed to the recent surge in $ETH prices.
Next news: Vitalik Buterin, the co-founder of Ethereum, criticizes current cryptocurrency regulations for penalizing transparency and targeting legitimate developers unfairly. He proposes solutions like limiting leverage, requiring audits, and implementing knowledge tests to address industry issues. Buterin emphasizes the importance of good-faith engagement between regulators and the industry for effective changes.
Next news: Momentum in the overnight market is growing on Wall Street, raising concerns about potential issues after dark. Professionals are worried about retail investors and the timing of their trades. The surge in overnight stock trading is fueled by the trend of amateur investing, which gained momentum during the pandemic. Firms like Robinhood Markets Inc. and Interactive Brokers Group Inc. are enabling this trend by providing 24-hour trading services.

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.