Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on July 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.34 trillion US dollars, witnessing a decrease of 2.61% compared to yesterday; the total trading volume is 78.05 billion US dollars, marking an increase of 23.5% from the previous day.
According to sosovalue, the price of $BTC is 60,346 USD, a decrease of 2.9% from yesterday. The market cap of $BTC is 1.19 trillion USD, accounting for 50.8% of the total market cap; $BTC's 24-hour trading volume is 27.62 billion USD, making up 35.4% of the total trading volume.
The price of $ETH is 3,302.2 USD, down 3.57% from yesterday; the market cap of $ETH is 396.91 billion USD, representing 16.9% of the total market cap; $ETH's 24-hour trading volume is 13.02 billion USD, comprising 16.7% 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 52.1% 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 Cryptex Finance (CTX). As of 17:55 today, its market cap is 22.76M, with a coin price of 3.46 USD, witnessing a 24-hour increase of 47.2%.
The second is holoride (RIDE). As of 17:55 today, its coin price is 0.004771 USD, with a 24-hour increase of 32.5%.
The third is Taboo (TABOO). As of 17:55 today, its coin price is 0.00040400 USD, showing a 24-hour increase of 27.4%.
In fourth place is Beta Finance (BETA). As of 17:55 today, its coin price is 0.090040 USD, with a 24-hour rise of 26.2%.
In fifth place is Hivemapper (HONEY). As of 17:55 today, its coin price is 0.070200 USD, increasing by 23.8% over the last 24 hours.
Sector Performance in the Crypto Market
According to the latest data, all 16 sectors in the crypto market are down today. Notably, the Others, Meme, and RWA sectors are worth mentioning.
The Others sector has fallen by -5.47% relative to the UTC 0 time, led by declines in RSC (-100%), nu (-100%), and ens (-14%).
The Meme sector has decreased by -6.4% relative to UTC 0, with corgiai (-100%), popcat (-19.9%), and wojak (-12.7%) leading the drop.
The RWA sector has fallen by -6.72%, with PROPC (-10.6%), mpl (-8.83%), and mkr (-7.54%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:US spot
bitcoin ETFs experienced net outflows of $13.62 million on Tuesday, marking a return to negative flows after five consecutive days of inflows. Grayscale’s GBTC led the outflows with $32.38 million, followed by Bitwise’s BITB with $6.76 million. Conversely, BlackRock’s IBIT and Fidelity’s FBTC saw significant inflows. Overall, the 11
bitcoin funds had a trading volume of less than $1 billion on Tuesday, a sharp decrease from March's daily volumes of eight to ten billion dollars. Since January, these ETFs have accumulated a total net inflow of $14.64 billion. Meanwhile,
bitcoin's price dropped 3.51% to $60,876, despite predictions from Standard Chartered that it could reach $100,000 by November. The bank also noted that if President Biden exits the election race,
bitcoin could fall to between $50,000 and $55,000.
Next news:
Bitcoin price once again fell below 60000 USDT, with a 4.77% decrease in the past 24 hours. This decline is related to the disappointing US non-farm payroll data, indicating a weakening demand in the labor market.
Next news: Genesis Digital Assets, a
bitcoin mining firm backed by Alameda Research, is considering an initial public offering (IPO) in the U.S., as reported by Bloomberg. The company is currently consulting with advisers and planning a pre-IPO funding round in the near future. This move follows the April
bitcoin halving event, which cut mining rewards by 50%, prompting many mining firms to seek expansion. In 2022, Alameda Research invested approximately $1.15 billion in Genesis Digital Assets, valuing the company at $5.5 billion. Genesis Digital Assets operates over 20 mining facilities worldwide, with significant operations in the U.S. and a new mining center launched in Argentina.
Next news: Galaxy Digital reports that despite a market lull, crypto venture capital investment continued to rebound in Q2, with a more active fundraising environment compared to previous quarters. Investment in crypto and blockchain-focused companies reached $3.19 billion in Q2, slightly up from Q1. The median deal size increased marginally, while the median pre-money valuation saw a significant jump. Deal count also rose by 8% quarter-over-quarter. Notably, Web3 and Layer 1s attracted substantial investments, with early-stage deals dominating the funding landscape. Despite challenges, the U.S. remains a major player in the venture scene, but regulatory issues could push more companies abroad. A breakdown in the correlation between
bitcoin’s price and venture investments was observed, with
bitcoin trading at $60,117, up 43% year-to-date but down 12% in Q2.
Next news: Fidelity, Sygnum, and Chainlink collaborate to bring NAV data onchain. The partnership focuses on providing transparency and accessibility for net asset value data in tokenized assets, specifically Sygnum’s $50 million onchain representation of Matter Labs’ treasury reserves held in Fidelity's $6.9 billion Institutional Liquidity Fund. Chainlink’s technology will facilitate secure storage and automated synchronization of NAV data on the ZKsync blockchain. The initiative aims to enhance real-time transparency and provide access to historical data for market participants.
Next news: Indian crypto exchange CoinDCX has acquired Dubai-based BitOasis, marking its first step towards global expansion. This acquisition provides CoinDCX a significant presence in the MENA region, serving a wide range of retail and institutional clients. The terms of the deal were not disclosed.
Next news: Blast, an
Ethereum Layer 2 network, has announced the allocation of 10 billion tokens for phase 2 rewards, aimed at supporting mobile dapp development and incentivizing users. The rewards will be split between Blast Points and Blast Gold, with each category receiving 5 billion tokens. The airdrop is scheduled to last 12 months, focusing on building infrastructure and supporting new applications. The announcement follows the allocation of 17 billion tokens in the first-phase rewards. Blast's token price has recently dropped by 11%, and the network's total value locked is currently $1.36 billion.
Next news:
Bitcoin has experienced a significant drop, losing 14% of its value in just four weeks. This decline has brought its price below the $60,000 mark, which according to analysts, could potentially trigger a wave of ETF liquidations.
Next news: Mantra to Tokenize $500M Real Estate Assets for UAE Builder MAG Group
The firm will tokenize the real estate assets in several tranches.
Next news: K33 analyst said that the upcoming ETF is a solid catalyst for
$ETH's relative strength, and that
$ETH is expected to fall after the launch of the ETF, but as happened with
$BTC later, the inflows into the fund could boost
$ETH's price, net inflows are expected to be equivalent to 0.75%-1% of
$ETH's circulating supply within 5 months of launch.
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.