SoSo Daily Jul 21

Let's turn our attention to today's overall Crypto market situation.
As of 12 PM Hong Kong time on July 21, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.55 trillion US dollars, witnessing an increase of 0.334% compared to yesterday; the total trading volume is 58.57 billion US dollars, marking a decline of 36.7% from the previous day.

According to sosovalue, the price of $BTC is 66,875 USD, an increase of 0.588% from yesterday. The market cap of $BTC is 1.32 trillion USD, accounting for 51.6% of the total market cap; $BTC's 24-hour trading volume is 17.77 billion USD, making up 30.3% of the total trading volume.
The price of $ETH is 3,498.7 USD, up 0.399% from yesterday; the market cap of $ETH is 420.64 billion USD, representing 16.5% of the total market cap; $ETH's 24-hour trading volume is 8.98 billion USD, comprising 15.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 45.6% 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 Cirus. As of 11:55 today, its market cap is 1.78M, with a coin price of 0.013240 USD, witnessing a 24-hour increase of 68.7%.
The second is Chain Games. As of 11:55 today, its coin price is 0.012558 USD, with a 24-hour increase of 60.3%.
The third is Open Exchange Token. As of 11:55 today, its coin price is 0.0059570 USD, showing a 24-hour increase of 47.7%.
In fourth place is Solend. As of 11:55 today, its coin price is 0.57240 USD, with a 24-hour rise of 41%.
In fifth place is Neon. As of 11:55 today, its coin price is 0.52700 USD, increasing by 28.8% 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, 11 are up and 5 are down. Notably, the Meme sector is worth mentioning.
Meme sector has risen 2.65% relative to the UTC 0 time, led by gains in polydoge (25.5% increase), SC (20.8% increase), and ponke (16.7% increase).

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The popularity of plant-based meat substitutes is declining, impacting producers like Beyond Meat. Reporter Maria Clara Cobo from New York highlights the challenges faced by these producers due to reduced consumer demand. The report also touches on other companies such as Intrum, Hawaiian Electric, and CommScope.

Next news: Thousands of people in the Houston area are still without power more than a week after Hurricane Beryl, due to a shortage of workers at CenterPoint Energy and poor vegetation management around power lines. Experts, including grid-reliability consultants and academics, highlight these issues as major factors in the prolonged outage.

Next news: The cryptocurrency industry is hoping for a win by former President Donald Trump in the upcoming 2024 US presidential election, as they believe his administration would adopt a softer approach on enforcement. This change is anticipated to end the prolonged battles with the SEC, which has been aggressively pursuing the digital-asset space. Trump, despite previous criticisms of cryptocurrencies, has recently shown more favorable attitudes, including hosting a Bitcoin-focused fundraiser, signaling a potential shift in policy if he returns to office.

Next news: Wu learned that ApeCoin DAO has proposed AIP-448 to establish an Ape-themed hotel in the prime location of downtown Bangkok, Thailand. The aim is to enhance the exposure, popularity, and utility of ApeCoin's BAYC IP and generate actual revenue for ApeCoin DAO. It is reported that once the themed rooms are completed, ApeCoin DAO will receive 50% of the room revenue within a year. ApeCoin DAO will collect revenue from all themed rooms and quarterly return it to the DAO treasury. The hotel will be responsible for local compliance and settlement of funds. The current voting support rate is 92.14%.

Next news: Wu learned that Animoca Ventures initiated proposal AIP-438 with ApeCoin DAO, suggesting the establishment of the ApeCoin Ventures fund in collaboration with ApeCoin. The ApeCoin Ventures fund has a size of 10 million US dollars, with ApeCoin DAO allocating 5 million US dollars worth of APE (to be sold for fiat currency upon receipt by Animoca Ventures), and Animoca Ventures contributing 5 million US dollars. The fund will invest in seed and Series A Web3 projects, with the current voting support rate at 83.49%.

Next news: Next week will see several important fintech events. Trump is expected to attend and speak at the Bitcoin 2024 conference from July 25th to 27th. At the same time, several companies' Ethereum spot ETFs are expected to start trading on July 23rd, including Fidelity, VanEck, and others. In addition, Avail plans to launch its mainnet on July 23rd. The SEC has given preliminary approval to at least three $ETH ETF issuers, allowing them to start trading from next Tuesday. Furthermore, there are several important updates and events related to blockchain and cryptocurrencies.

Next news: Foresight News: According to official data, within the 7 days ending on July 18, Circle issued approximately 21 billion USDC, redeemed about 23 billion USDC, with a circulation increase of around 2 billion tokens. The total circulation of USDC is $33.60 billion, with reserves of about $33.80 billion, including $4.10 billion in cash and $29.70 billion held by the Circle Reserve Fund.

Next news: Odaily Planet Daily News OKX market shows that the Meme coin sector is generally up, with PEPE up 5.4% in the past 24 hours, now trading at 0.00001213 USDT; WIF up 2.3% in the past 24 hours, now trading at 2.47 USDT; FLOKI up 6.9% in the past 24 hours, now trading at 0.0001896 USDT; MEW up 30.1% in the past 24 hours, now trading at 0.005019 USDT; TURBO up 42.8% in the past 24 hours, now trading at 0.006239 USDT; MEME up 5% in the past 24 hours, now trading at 0.01673 USDT.

Next news: Vitalik: A blockchain is a "truth machine" in the specific sense that it provides consensus approximate-truth over when messages were sent. This reduces the blockchain's attack surface by a lot, but it does mean we need other tools to actually do (or rather, assist with) the latter kind of truth-finding.

Next news: Weekly Project Updates: Worldcoin Extends Token Unlock Period, Scroll TVL Surpasses $1 Billion, Binance Launches Airdrop Portal for BANANA, etc



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.