SoSo Daily Jul 12

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on July 12, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.22 trillion US dollars, witnessing a decrease of 1.99% compared to yesterday; the total trading volume is 82.24 billion US dollars, marking an increase of 15.2% from the previous day.

According to sosovalue, the price of $BTC is 57,195 USD, a decrease of 2.69% from yesterday. The market cap of $BTC is 1.13 trillion USD, accounting for 50.9% of the total market cap; $BTC's 24-hour trading volume is 27.73 billion USD, making up 33.7% of the total trading volume.
The price of $ETH is 3,069.2 USD, down 2.47% from yesterday; the market cap of $ETH is 368.94 billion USD, representing 16.6% of the total market cap; $ETH's 24-hour trading volume is 15.13 billion USD, comprising 18.4% 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 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Mdex (HECO). As of 11:55 today, its market cap is 50.13M, with a coin price of 0.052750 USD, witnessing a 24-hour increase of 54.4%.
The second is Moca Coin. As of 11:55 today, its coin price is 0.12755 USD, with a 24-hour increase of 42.7%.
The third is Sperax. As of 11:55 today, its coin price is 0.0095400 USD, showing a 24-hour increase of 38.3%.
In fourth place is V.SYSTEMS. As of 11:55 today, its coin price is 0.0015550 USD, with a 24-hour rise of 19%.
In fifth place is SuperWalk. As of 11:55 today, its coin price is 0.13162 USD, increasing by 15.5% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The German government has been actively transferring significant amounts of bitcoins to various exchanges and market makers. According to Arkham, a blockchain analytics platform, recent transactions include sending 133.722 bitcoins to Cumberland DRW, 150 to Kraken, 1,000 to B2C2 Group, 300 each to Coinbase and Bitstamp, and 1,000 to Flow Traders. These transfers are part of a broader selling spree, which also saw 250 bitcoins each moved to Bitstamp and Coinbase, and 500 to an unlabelled address earlier on the same day. This strategy has faced criticism from Joana Cotar, a member of the German Bundestag and bitcoin advocate, who argues that the government should hold bitcoin as a strategic reserve rather than selling it. Despite these sales, the price of bitcoin has remained relatively stable, showing a minor decrease of less than 0.6% over the past 24 hours. The German government still retains over $2 billion in bitcoin.

Next news: According to Foresight News and Bitget market data, the price of Bitcoin has dropped below 57000 USDT, with the current price at 56948.97 USDT, representing a 0.71% intraday decline.

Next news: Coinbase is launching a new 'one-stop' crypto app aimed at simplifying the user experience. This initiative reflects the company's effort to make cryptocurrency trading and management more accessible and user-friendly.

Next news: The U.S. announced that the unadjusted core CPI annual rate in June was 3.3%, lower than the market expectation of 3.4%, falling to the lowest level since April 2021. The seasonally adjusted core CPI monthly rate in June was 0.1%, the lowest level since August 2021, and the market expectation was 0.2%.

Next news: A New York judge has rejected Coinbase's attempt to subpoena SEC Chair Gary Gensler. The judge expressed her surprise in a negative context regarding the situation.

Next news: Stablecoin issuer Paxos announced that the US Securities and Exchange Commission (SEC) has concluded its investigation into the Binance-branded stablecoin, BUSD, and will not recommend any enforcement action. The investigation's closure was first reported by Fortune, and confirmed by Paxos in a statement. The SEC has not made any public comments regarding the investigation.

Next news: The bank reduced its year-to-date crypto market net flow estimate to $8 billion due to a decline in bitcoin reserves across exchanges in the past month.

Next news: Compound's founder and CEO Jayson Hobby announced his resignation and, together with two other Compound Labs executives, launched a new DeFi protocol called Legend. The other two executives are Compound's founder and CTO Geoffery Hayes and Compound's Vice President of Product Mykel Pereira.

Next news: According to Foresight News, the expiring Bitcoin and Ethereum options on the Deribit platform are 24 thousand and 157 thousand respectively, with nominal values of 14 billion dollars and 4.9 billion dollars. The Put Call Ratio for Bitcoin options is 1.08, with a maximum pain price of 58,500 dollars; the Put Call Ratio for Ethereum options is 0.37, with a maximum pain price of 3,100 dollars.

Next news: MicroStrategy announced a 1-for-10 stock split plan for its Class A and Class B common stocks to enhance stock liquidity and accessibility. The split will be implemented in the form of a stock dividend, with additional shares expected to be distributed to shareholders on August 7, 2024, and trading at the adjusted price commencing on August 8, 2024. The stock split will not affect shareholders' voting rights and other related interests.


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.