Let's turn our attention to today's overall Crypto market situation.
As of 11:59 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 3.36% compared to yesterday; the total trading volume is 85.63 billion US dollars, marking an increase of 43.7% from the previous day.
According to sosovalue, the price of $BTC is 60,209 USD, a decrease of 3.1% 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 30.18 billion USD, making up 35.2% of the total trading volume.
The price of $ETH is 3,295 USD, down 3.69% from yesterday; the market cap of $ETH is 396.04 billion USD, representing 17% of the total market cap; $ETH's 24-hour trading volume is 15.52 billion USD, comprising 18.1% 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 53.3% 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 Cryptex Finance. As of 23:55 today, its market cap is 27.63M, with a coin price of 4.2000 USD, witnessing a 24-hour increase of 71.4%.
The second is holoride. As of 23:55 today, its coin price is 0.0047620 USD, with a 24-hour increase of 31.5%.
The third is Hivemapper. As of 23:55 today, its coin price is 0.073500 USD, showing a 24-hour increase of 28.5%.
In fourth place is Beta Finance. As of 23:55 today, its coin price is 0.087370 USD, with a 24-hour rise of 27.2%.
In fifth place is Prisma Governance Token. As of 23:55 today, its coin price is 0.076400 USD, increasing by 22% 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, 0 are up and 16 are down. Notably, DeFi, Others, and Meme sectors are worth mentioning.
DeFi sector has fallen -6.91% relative to the UTC 0 time, led by declines in rstk (-100%), sure (-100%), and cow (-100%).
Others sector has decreased -7.47% relative to UTC 0, with nu (-100%), RSC (-100%), and ens (-18.5%) leading the drop.
Meme sector has fallen -8.24%, with corgiai (-100%), popcat (-25.8%), and wif (-18%) 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: 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: The Basel Committee has approved a new disclosure framework for crypto exposures, which is based on responses to a discussion paper from December 2022. This framework is set to be implemented by 2026.
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: Bloomberg analysts predict that the Ethereum spot ETF may be listed for trading on July 15. Bitwise Invest recently resubmitted the revised Ethereum ETF S-1 form, with more issuers expected to submit the same form in the next week. Despite the SEC taking a longer time to process these forms, analysts believe that the listing for trading could be achieved soon.
Next news: Matthew Sigel, head of research at VanEck, said the possibility of launching a spot Solana ETF depends largely on the outcome of the 2024 presidential election and whether Gary Gensler continues to serve as chairman of the SEC. VanEck just submitted an application to launch a spot Solana ETF in the United States last week, and 21Shares followed suit.
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: Consensys, a prominent Ethereum builder, has acquired Wallet Guard, aiming to enhance the security features of its popular MetaMask wallet. The entire Wallet Guard team will be integrated into the MetaMask Product Safety Team at Consensys.
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.