SoSo Daily Jul 13

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM Hong Kong time on July 13, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.26 trillion US dollars, witnessing an increase of 1.86% compared to yesterday; the total trading volume is 65.45 billion US dollars, marking a decline of 18.9% from the previous day.

According to sosovalue, the price of $BTC is 58,070 USD, an increase of 1.83% from yesterday. The market cap of $BTC is 1.15 trillion USD, accounting for 50.7% of the total market cap; $BTC's 24-hour trading volume is 19.76 billion USD, making up 30.2% of the total trading volume.
The price of $ETH is 3,133.6 USD, up 1.65% from yesterday; the market cap of $ETH is 376.68 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 10.98 billion USD, comprising 16.8% 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 47% 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 05:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Mdex (HECO). As of today, its market cap is 71.79M, with a coin price of 0.075550 USD, witnessing a 24-hour increase of 139%.
The second is Dock. As of today, its coin price is 0.011070 USD, with a 24-hour increase of 81.5%.
The third is Polkastarter. As of today, its coin price is 0.42320 USD, showing a 24-hour increase of 39.5%.
In fourth place is RabbitX. As of today, its coin price is 0.020530 USD, with a 24-hour rise of 33.1%.
In fifth place is Kava Lend. As of today, its coin price is 0.10120 USD, increasing by 32.5% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 16 are up and 0 are down. Notably, Payment, RWA, and GameFi sectors are worth mentioning.
Payment sector has risen 8.37% relative to the UTC 0 time, led by gains in velo (12%), xrp (11.4%), and xlm (10.8%).
RWA sector has increased 4.7% relative to UTC 0, with tru (9.14%), mkr (7.97%), and mpl (6.96%) leading the rise.
GameFi sector has risen 3.78%, with soul (24.4%), MAVIA (11.6%), and ron (11.2%) 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:

According to SoSoValue, as of July 12th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $310.21M.

Yesterday, Grayscale's ETF GBTC had a net inflow of $23.01M, bringing GBTC's total historical net outflow to $18.64B.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $120.03M, with IBIT's total historical net inflow reaching $18.26B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $115.14M, with FBTC's total historical net inflow reaching $9.72B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $51.34B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.52%. The historical cumulative net inflow has reached $15.81B.

Source: https://sosovalue.com/assets/etf

Next news: German Goverment transferred 752.166 $BTC to Flow Traders at 2:12 UTC+8 today and 3,094 $BTC to the suspected B2C2 Group. Currently, German Goverment has no $BTC positions, and all $BTC have been transferred to CEX or market makers.

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: MakerDAO announced that it will invest $1 billion in tokenized U.S. Treasury products through an open competition. BlackRock's BUIDL, Superstate and Ondo Finance are participating. The competition will open for applications on August 12. This marks a major adjustment to MakerDAO's reserve strategy.

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.


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.