SoSo Daily Jul 17

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM New York time on July 16, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.50 trillion US dollars, witnessing an increase of 0.647% compared to yesterday; the total trading volume is 119.22 billion US dollars, marking an increase of 13.7% from the previous day.

According to sosovalue, the price of $BTC is 65,038 USD, an increase of 0.399% from yesterday. The market cap of $BTC is 1.28 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 40.29 billion USD, making up 33.8% of the total trading volume.
The price of $ETH is 3,442.5 USD, down 1.23% from yesterday; the market cap of $ETH is 413.86 billion USD, representing 16.6% of the total market cap; $ETH's 24-hour trading volume is 20.63 billion USD, comprising 17.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68% of the total cryptocurrency market cap, and their combined trading volumes constitute 51.1% 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 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Gods Unchained. As of 23:55 today, its market cap is 89.43M, with a coin price of 0.29360 USD, witnessing a 24-hour increase of 65.8%.
The second is GensoKishi Metaverse. As of 23:55 today, its coin price is 0.011990 USD, with a 24-hour increase of 47.8%.
The third is Shark Cat. As of 23:55 today, its coin price is 0.046920 USD, showing a 24-hour increase of 35.6%.
In fourth place is Step Finance. As of 23:55 today, its coin price is 0.035900 USD, with a 24-hour rise of 29.5%.
In fifth place is Ultima. As of 23:55 today, its coin price is 4106.5 USD, increasing by 27.3% 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, 7 are up and 9 are down. Notably, the Payment and SocialFi sectors are worth mentioning.
The Payment sector has risen 4.3% relative to the UTC 0 time, led by gains in RUBY (15.2%), xvg (8.61%), and xrp (7.86%).
The SocialFi sector has decreased -3.65% relative to UTC 0, with ton (-4.65%), berry (-3.36%), and SUIA (-2.97%) leading the drop.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:US spot bitcoin ETFs reported a daily net inflow of $301 million, marking a seventh consecutive day of positive flows. BlackRock’s IBIT led with $117.25 million in inflows. Other notable funds like Ark Invest’s ARKB and Fidelity’s FBTC also saw significant inflows. The total trading volume for the day was $2.26 billion, though this was lower compared to March. Bitcoin’s price surpassed $64,000, and BlackRock’s CEO acknowledged bitcoin as a legitimate financial instrument. Additionally, spot ether ETFs are expected to launch soon.

Next news: After the shooting incident, Trump chose Vance, a supporter of cryptocurrency, as his vice presidential candidate, and the cryptocurrency market rebounded. During the Trump administration, several crypto-friendly officials were appointed, leading to a rise in cryptocurrency prices. The Trump family also actively participates in cryptocurrency assets, such as NFT issuance. Trump promised not to create a central bank digital currency and accepts campaign donations in the form of cryptocurrency. Additionally, Trump plans to pardon cryptocurrency figures, such as the founder of Silk Road. Despite doubts about Trump's stance on cryptocurrency, he still plans to speak at the 2024 Bitcoin conference.

Next news: Bitcoin price breaks through the $65,000 USDT mark, currently priced at $65,027.47 USDT, with a daily increase of 0.45%.

Next news: Japanese investment firm Metaplanet Inc. saw its stock price jump 25.8% after announcing an additional purchase of bitcoin worth about $1.26 million. This acquisition increases its total bitcoin holdings to 225.611 $BTC, valued at approximately $14.2 million. The company's strategic move to adopt bitcoin as a treasury reserve asset is in response to Japan's economic pressures, including high government debt and negative real interest rates. Metaplanet's stock surged 25.81% in the morning session following the announcement.

Next news: According to Arkham monitoring, Mt. Gox transferred 526.952 $BTC to an unmarked address at 14:39 UTC+8 today, worth approximately 33.63 million US dollars.

Next news: According to WSJ, Elon Musk pledged to donate $45 million per month to a new super PAC to support Trump's presidential campaign. However, Musk responded on social media saying this is fake news.

Next news: According to Cyvers Alerts monitoring, the cross-chain transaction aggregator LI.FI appears to have experienced suspicious transactions. Users are advised to revoke related authorizations. Currently, over 8 million US dollars of user funds are affected, with the majority being stablecoins. The attacker is converting USDC and USDT to ETH.

Next news: In March, a U.K. judge ruled that Craig Wright was not the creator of bitcoin, contrary to his claims. This has led to his referral to UK prosecutors for consideration of perjury charges.

Next news: Mt.Gox address transferred 48,641 $BTC to an internal wallet again, involving an amount of approximately 3.07 billion dollars. According to Arkham monitoring, this transfer may be in preparation for debt repayment.

Next news: Ripple Labs donated $1 million to a new super PAC, Commonwealth Unity Fund, to help unseat Sen. Elizabeth Warren and support pro-crypto lawyer John Deaton. The donation was part of Ripple's broader strategy to influence the 2024 U.S. elections in favor of pro-crypto candidates. Additionally, the Winklevoss twins donated to both a pro-Trump super PAC and directly to Donald Trump's campaign. These political contributions highlight the increasing involvement of crypto entities in U.S. politics.


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.