Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on July 6, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing an increase of 3.56% compared to yesterday; the total trading volume is 65.77 billion US dollars, marking a decline of 60% from the previous day.
According to sosovalue, the price of $BTC is 58,250 USD, an increase of 2.86% from yesterday. The market cap of $BTC is 1.15 trillion USD, accounting for 51.1% of the total market cap; $BTC's 24-hour trading volume is 21.06 billion USD, making up 32% of the total trading volume.
The price of $ETH is 3,066.9 USD, up 2.85% from yesterday; the market cap of $ETH is 368.64 billion USD, representing 16.4% of the total market cap; $ETH's 24-hour trading volume is 10.93 billion USD, comprising 16.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 48.6% 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 Drops Ownership Power (DOP). As of 23:55 today, its market cap is 403.99K, with a coin price of 0.030040 USD, witnessing a 24-hour increase of 155%.
The second is sudoswap (SUDO). As of 23:55 today, its coin price is 0.14590 USD, with a 24-hour increase of 56%.
The third is Turbo (TURBO). As of 23:55 today, its coin price is 0.0047514 USD, showing a 24-hour increase of 51.6%.
In fourth place is Fluence (FLT). As of 23:55 today, its coin price is 0.32400 USD, with a 24-hour rise of 42.7%.
In fifth place is Omega Network (OMN). As of 23:55 today, its coin price is 0.0032820 USD, increasing by 40.4% 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, 16 are up and 0 are down. Notably, Meme, Layer2, and DePIN sectors are worth mentioning.
Meme sector has risen 10.3% relative to the UTC 0 time, led by gains in turbo (51.5%), mumu (30.4%), and NOT (28.6%).
Layer2 sector has increased 8.06% relative to UTC 0, with SAGA (17.4%), TIA (16.1%), and pcx (14.1%) leading the rise.
DePIN sector has risen 8.03%, with flt (38.6%), IO (21.6%), and blz (13.2%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:
According to SoSoValue, as of July 5th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $143.10M.
Yesterday, Grayscale's ETF GBTC had a net outflow of $28.57M, bringing GBTC's total historical net outflow to $18.60B.
The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $117.38M, with FBTC's total historical net inflow reaching $9.36B.
Following that, Bitwise's ETF BITB had a daily net inflow of $30.19M, with BITB's total historical net inflow reaching $2.08B.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $49.15B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.42%. The historical cumulative net inflow has reached $14.76B.
Source: https://sosovalue.com/assets/etf
Next news: CryptoQuant CEO Ki Young Ju: Government Bitcoin selling is overestimated. $224B has flowed into this market since 2023. Government-seized $BTC contributes about $9B to the realized cap. It's only 4% of the total cumulative realized value since 2023. The realized cap represents the total capital that has entered the market.
Next news: Grayscale survey shows that if the Ethereum (spot) ETF is approved, nearly 25% of potential US voters will be more interested in investing in Ethereum. Nearly half of voters (47%) expect to include cryptocurrencies in their portfolios, up from 40% at the end of last year.
Next news: The U.S. House is scheduled to vote next week on whether to override President Biden's veto of Staff Accounting Bulletin 121 (SAB 121), a measure that has stirred controversy in the crypto industry. The bulletin, vetoed by Biden in May, mandates that firms holding customer crypto assets record these as liabilities, which has raised concerns about its impact on banks' ability to safeguard digital assets. The House previously passed the measure with bipartisan support, but overriding the veto requires a two-thirds majority in both chambers, a threshold that experts believe will be challenging to meet.
Next news: According to Cointelegraph, Bitfinex Securities said that it will refund investors in its Hilton Hotel project at El Salvador International Airport after failing to attract the minimum $500k in funding required to continue operations. The project is the first public token bond project in El Salvador. Currently, Bitfinex has removed the public offering from its website.
Next news: Justin Sun: Our team is developing a new solution that enables gas-free stablecoin transfers. Transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins. This innovation will first be implemented on the Tron blockchain and later support Ethereum and all EVM. We anticipate launching this service in Q4 of this year.
Next news: Nigerian Central Bank officials testified in a money laundering trial, accusing Binance of operating illegally without permission. During Friday's court hearing, Olubukola Akinwunmi, the head of payment policies and regulations at the Nigerian Central Bank, stated that Binance did not have any license from the Nigerian Central Bank and therefore should not facilitate cryptocurrency trading for Nigerians. Additionally, the prosecution also accused Binance's US compliance officer, Gambaryan, of participating in illegal activities as a company representative, but both Gambaryan and Binance denied these allegations.
Next news: Bitcoin price breaks 58,000 USDT
Next news: According to Spot on Chain, a dormant wallet woke up after 10.6 years and transferred 1,004 $BTC ($57 million) to a new wallet. The wallet received these $BTC ($737,000) at an average price of only $731 in 2013 and 2014.
Next news: Grayscale Investments announced a restructuring of its funds in the second quarter of 2024. In this restructuring, the constituent assets and weights of the Grayscale Digital Large Cap Fund (GDLC) and Grayscale DeFi Fund (DEFG) will remain unchanged. However, the Grayscale Smart Contract Platform ex-Ethereum Fund (GSCPxE) will remove Polygon (MATIC) and reallocate the weights of existing assets.
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.