SoSo Daily Jul 13

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on July 12, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing an increase of 1.15% compared to yesterday; the total trading volume is 71.77 billion US dollars, marking a decline of 11.6% from the previous day.

According to sosovalue, the price of $BTC is 57,878 USD, an increase of 0.939% from yesterday. The market cap of $BTC is 1.14 trillion USD, accounting for 50.7% of the total market cap; $BTC's 24-hour trading volume is 25.85 billion USD, making up 36% of the total trading volume.
The price of $ETH is 3,133.2 USD, up 1.09% from yesterday; the market cap of $ETH is 376.64 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 12.52 billion USD, comprising 17.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 53.4% 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 Mdex (HECO). As of 23:55 today, its market cap is 75.54M, with a coin price of 0.07949 USD, witnessing a 24-hour increase of 133%.
The second is Kava Lend. As of 23:55 today, its coin price is 0.10680 USD, with a 24-hour increase of 40.9%.
The third is Dock. As of 23:55 today, its coin price is 0.0081500 USD, showing a 24-hour increase of 26.9%.
In fourth place is PowerPool Concentrated Voting Power. As of 23:55 today, its coin price is 0.23260 USD, with a 24-hour rise of 21.8%.
In fifth place is Marinade. As of 23:55 today, its coin price is 0.12381 USD, increasing by 21.6% 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, Payment, RWA, and DeFi sectors are worth mentioning.
Payment sector has risen 4.5% relative to the UTC 0 time, led by gains in RUBY (7.11%), bch (6.25%), and xrp (5.63%).
RWA sector has increased 3.49% relative to UTC 0, with gfi (10.5%), smt (8.48%), and pendle (6.51%) leading the rise.
DeFi sector has risen 3.15%, with mdx (144%), hard (37.5%), and mnde (24.4%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The German government has reportedly completed its Bitcoin sales, according to blockchain analysis firm Arkham Intelligence. The government's main account now shows a zero balance, indicating that the last of the Bitcoin, valued at over $2 billion, was likely sold through exchanges like Coinbase Global Inc., Kraken, and Bitstamp. This move comes after weeks of market speculation regarding the sales.

Next news: The address marked as "Genesis Trading" by Arkham has transferred a total of 12k $BTC to Coinbase in the past month, worth about $760 million. It is suspected to be in bankruptcy liquidation procedures and currently holds about 33,000 $BTC, worth $1.9 billion. In May this year, Genesis Global was approved to liquidate and distribute assets according to its bankruptcy reorganization plan.


Next news: Despite facing a fund outflow of over $18.60 billion, Grayscale's Bitcoin Spot ETF (GBTC) still leads in terms of asset under management, ranking second. Grayscale's high fee rate (1.5%) is relatively high compared to other ETFs, but its market performance, liquidity, and investment returns continue to attract a large number of investors. Grayscale also plans to launch a mini version of GBTC with a fee of only 0.15% to alleviate cost pressures and retain existing investors. Additionally, Grayscale is also considering the launch of an Ethereum Spot ETF, although the specific fee rate has not been disclosed yet.

Next news: Bitcoin briefly broke through 58000 USDT. According to Bitget's market data, the current price is 58004.16 USDT, with an intraday increase of 1.17%.

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: Crypto trading platform Abra has acquired several private cryptocurrency trusts from Valkyrie Investments, including Tron (TRX) and Zilliqa (ZIL) trusts. This acquisition occurred shortly before Abra settled with 25 US state financial regulators for operating without appropriate licenses. Abra Capital Management LP took over these trusts in May, as confirmed by Marissa Kim, Abra’s head of asset management, in a response to Bloomberg News.

Next news: The SEC has concluded its investigation into Hiro, previously known as Blockstack, which had raised $70 million through token sales from 2017 to 2019. This marks another favorable outcome for the cryptocurrency industry in its ongoing interactions with regulatory bodies.

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: The German government recently transferred 748 bitcoins to Cumberland DRW, with a transaction value of approximately $42.78 million. According to Arkham monitoring, this transaction occurred 10 minutes ago.

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.


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.