SoSo Daily Jul 13

Let's turn our attention to today's overall Crypto market situation.
As of 12 PM Hong Kong time on July 13, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.28 trillion US dollars, witnessing an increase of 2.85% compared to yesterday; the total trading volume is 61.64 billion US dollars, marking a decline of 25% from the previous day.

According to sosovalue, the price of $BTC is 58,534 USD, an increase of 2.33% 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 20.22 billion USD, making up 32.8% of the total trading volume.
The price of $ETH is 3,156.4 USD, up 2.81% from yesterday; the market cap of $ETH is 379.44 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 10.49 billion USD, comprising 17% 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 49.8% 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 Dock. As of 11:55 today, its market cap is 11.57M, with a coin price of 0.013200 USD, witnessing a 24-hour increase of 82.6%.
The second is Kava Lend. As of 11:55 today, its coin price is 0.12270 USD, with a 24-hour increase of 61.9%.
The third is Tottenham Hotspur FC Fan Token. As of 11:55 today, its coin price is 2.9820 USD, showing a 24-hour increase of 58%.
In fourth place is RabbitX. As of 11:55 today, its coin price is 0.024270 USD, with a 24-hour rise of 49.3%.
In fifth place is Mdex (HECO). As of 11:55 today, its coin price is 0.076900 USD, increasing by 45.3% 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 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: 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: 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: 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: Argentinian fintech company Tapi has completed a $20 million Series A financing round, led by Kaszek with participation from a16z. Tapi is expanding its operations in Mexico and serves as a payment processor for a large consumer platform in Latin America. The company expects to process around $400 million in payments across five countries this year, with a projected fourfold increase by 2023. Tapi currently has approximately 70 employees, primarily based in Argentina. The CEO anticipates a fivefold increase in total payment volume this year, reaching 10 million transactions per month.

Next news: Pixelverse, an encrypted gaming ecosystem based on Telegram, has once again completed a $2 million financing round. Investors include Galaxy Interactive, Crit Ventures, Arc Community, and individual investors Alex Kruger, Luke Belmar, Mike Dudas, among others. This funding round brings Pixelverse's total funding to $7.50 million.

Next news: FTX has reached a settlement agreement with the U.S. Commodity Futures Trading Commission (CFTC), with CFTC's $4 billion claim ranking behind all creditors and interests. FTX has filed a motion with the U.S. Bankruptcy Court in Delaware seeking approval of this agreement. According to the agreement, the funds paid to CFTC will be used to supplement the refund fund to compensate affected cryptocurrency holders. Additionally, CFTC will not have any further claims against FTX.


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.