SoSo Daily Jul 26

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM Hong Kong time on July 26, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.51 trillion US dollars, witnessing an increase of 3.21% compared to yesterday; the total trading volume is 103.27 billion US dollars, marking an increase of 0.402% from the previous day.

According to sosovalue, the price of $BTC is 66,924 USD, an increase of 4.14% from yesterday. The market cap of $BTC is 1.32 trillion USD, accounting for 52.7% of the total market cap; $BTC's 24-hour trading volume is 37.17 billion USD, making up 36% of the total trading volume.
The price of $ETH is 3,269.6 USD, up 2.72% from yesterday; the market cap of $ETH is 393.13 billion USD, representing 15.7% of the total market cap; $ETH's 24-hour trading volume is 22.00 billion USD, comprising 21.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 57.3% 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 MUMU THE BULL. As of today, its market cap is 179.80M, with a coin price of 0.00007717 USD, witnessing a 24-hour increase of 109%.
The second is PowerPool Concentrated Voting Power. As of today, its coin price is 0.46980 USD, with a 24-hour increase of 107%.
The third is BarnBridge. As of today, its coin price is 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is IRISnet. As of today, its coin price is 0.017140 USD, with a 24-hour rise of 38.8%.
In fifth place is Solend. As of today, its coin price is 0.83350 USD, increasing by 29.5% 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, 16 are up and 0 are down. Notably, $BTC, DeFi, and Meme sectors are worth mentioning.
$BTC sector has risen 4.14% relative to the UTC 0 time, led by gains in $btc (4.14%).
DeFi sector has increased 4.13% relative to UTC 0, with cvp (108%), bond (44.4%), and slnd (31.8%) leading the rise.
Meme sector has risen 3.96%, with mumu (109%), silly (21.3%), and APU (19.1%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to SoSoValue, as of July 25th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $31.16M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $39.59M, bringing GBTC's total historical net outflow to $18.79B.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $70.75M, with IBIT's total historical net inflow reaching $19.70B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $59.14B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.59%. The historical cumulative net inflow has reached $17.54B.

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

Next news:Jersey City's municipal pension plan is set to invest in Bitcoin through exchange-traded funds (ETFs), as announced by Mayor Steven Fulop on social media.
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: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: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:JUST IN: 🇺🇸 Donald Trump raises over $4 million in #Bitcoin and other cryptocurrency campaign donations. https://t.co/xb45WSuk1R

Next news:OpenSocial Protocol has successfully raised $6 million in a funding round led by Framework Ventures and North Island Ventures. The funding round also saw participation from several other investors including Hivemind Capital Partners, Stratos, Moonrock Capital, Chorus One, HV Capital, X Ventures, Gate Labs, Panga Capital, Aspen Digital, and notable angel investors. This brings OpenSocial's total funding to $26 million. The funds will be used to expand its multichain technology and enhance support for web3 community apps. OpenSocial Protocol aims to improve web3 app infrastructure by focusing on user retention, growth, and reducing bot activity. The platform also emphasizes intellectual property, community relationships, monetization, and financial incentives for users.
Next news:Odaily Planet Daily News: Federal Reserve policymakers are expected to maintain interest rates at 5.25%-5.50% next week and start a consecutive 25 basis points cut in September. The latest data indicates a recovery in the US economy in the last quarter. Prior to the data release, traders estimated a 9% chance of a rate cut by the Fed next week. However, with the government report showing a 2.8% economic growth in the last quarter, double the pace of the first quarter, this probability has dropped to below 7%. Analyst Ryan Sweet from Oxford Economics wrote that the economic re-acceleration "should help alleviate concerns about the sustainability of economic expansion and quell rumors of a Fed rate cut in July." Traders continue to expect rate cuts by the Fed in September, November, and December, each by 25 basis points, while reducing bets on further cuts. Previously, traders believed there was a 21% chance of a rate cut of more than 25 basis points before the September meeting, which has now decreased to around 15%. (Jinshi)

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.