SoSo Daily Jul 25

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on July 25, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.44 trillion US dollars, witnessing a decrease of 3.77% compared to yesterday; the total trading volume is 111.66 billion US dollars, marking an increase of 32.4% from the previous day.

According to sosovalue, the price of $BTC is 65,052 USD, a decrease of 2.3% from yesterday. The market cap of $BTC is 1.28 trillion USD, accounting for 52.6% of the total market cap; $BTC's 24-hour trading volume is 38.85 billion USD, making up 34.8% of the total trading volume.
The price of $ETH is 3,166.9 USD, down 7.35% from yesterday; the market cap of $ETH is 380.78 billion USD, representing 15.6% of the total market cap; $ETH's 24-hour trading volume is 25.78 billion USD, comprising 23.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 57.9% 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 17:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is PowerPool Concentrated Voting Power (CVP). As of 17:55 today, its market cap is 14.07M, with a coin price of 0.43450 USD, witnessing a 24-hour increase of 81.6%.
The second is MUMU THE BULL (MUMU). As of 17:55 today, its coin price is 0.000065680 USD, with a 24-hour increase of 62.1%.
The third is BarnBridge (BOND). As of 17:55 today, its coin price is 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is NetMind Token (NMT). As of 17:55 today, its coin price is 3.7662 USD, with a 24-hour rise of 25%.
In fifth place is Silly Dragon (SILLY). As of 17:55 today, its coin price is 0.017920 USD, increasing by 21.3% 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, all 16 are down. Notably, GameFi, Layer2, and $ETH sectors are worth mentioning.
GameFi sector has fallen -6.26% relative to the UTC 0 time, led by declines in FEVR (-55.1%), GMM (-24.1%), and BIGTIME (-17.5%).
Layer2 sector has decreased -6.35% relative to UTC 0, with SAGA (-18%), TIA (-10.6%), and METIS (-10.5%) leading the drop.
$ETH sector has fallen -7.36%, with $ETH (-7.36%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Most Ether ETFs were in the green during the Wednesday U.S. trading session, but Grayscale's converted Ethereum Trust ETF posted a net outflow of over $800 million.
Next news:

According to SoSoValue, as of July 24th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $44.51M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $26.22M, bringing GBTC's total historical net outflow to $18.75B.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $65.99M, with IBIT's total historical net inflow reaching $19.63B.

Following that, Ark Invest and 21Shares's ETF ARKB had a daily net inflow of $3.29M, with ARKB's total historical net inflow reaching $2.60B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $60.11B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.61%. The historical cumulative net inflow has reached $17.50B.

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

Next news:Coinbase's CBPL Fined $4.5M by UK Regulator for Lapses in Onboarding Controls

Despite the restrictions in place, CBPL onboarded and/or provided e-money services to 13,416 high-risk customers, the Financial Conduct Authority said.
Next news:Michael Novogratz's Galaxy Asset Management has successfully raised $113 million for its new venture fund, Galaxy Ventures, aimed at investing in early-stage companies in the crypto sector. The fund, which began fundraising in the second quarter of this year, targets a final goal of $150 million and has attracted interest from institutional allocators, family offices, and high-net-worth individuals. Galaxy Ventures plans to build a portfolio of around 30 investments in companies innovating in digital assets, led by General Partners Will Nuelle and Mike Giampapa. The fund's strategy focuses on supporting advancements in global payments, financial market access, and foundational infrastructure for the financial internet-of-value.
Next news:Hashdex, a crypto asset management firm, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission to launch the Hashdex Nasdaq Crypto Index US ETF. This ETF aims to directly own spot bitcoin and ether and may include other assets in the future depending on regulatory developments. The ETF, which will trade on Nasdaq, could be the first index-based crypto ETF in the U.S. It follows the Nasdaq Crypto Index US methodology, and Coinbase Custody Trust Company, LLC and BitGo Trust Company, Inc. will serve as custodians.
Next news:Foresight News: According to Bitget market data, Bitcoin has dropped below 64000 USDT, currently trading at 63988 USDT, with a 2.5% intraday decline.
Next news:Foresight News reports that, according to Fox Business, former President Trump will deliver a speech at the Bitcoin 2024 conference in Nashville, Tennessee later this week. At the same time, U.S. Senator Cynthia Lummis, who supports cryptocurrencies, will announce new legislation she is drafting. The legislation will require the Federal Reserve to hold some Bitcoin as a strategic reserve asset. However, the details of the plan are still uncertain and the announcement may be delayed. Sources revealed that Cynthia Lummis hopes to announce this plan at the Bitcoin conference just before Trump's scheduled speech, in order to garner Trump's support for the bill and its underlying ideas.
Next news:On Wednesday, Ark Invest sold 118,209 shares of ARKB spot Bitcoin ETF through its ARKW, worth $7.76 million. This is the first time the company has sold ARKB shares since launching the spot Bitcoin ETF in January this year. According to the company's latest disclosure, ARKB is the largest holding in its ARKW ETF, with a weight of 10.98% as of July 24, higher than Tesla, Roku, and Coinbase stocks (with weights of 9.5%, 8.48%, and 8.23% respectively).
Next news:India has seen as many as 92 cases since 2020 till April 2024 involving dark net and cryptocurrencies to purchase drugs, the nation's junior Home Minister Nityanand Rai said to parliament on Wednesday.
Next news:Foresight News reported that according to Coinglass data, the entire network liquidated $112 million in the past hour, with long positions liquidated $108 million and short positions liquidated $4 million. Among them, Ethereum liquidated $38.38 million, and Bitcoin liquidated $31.89 million.

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.