SoSo Daily Jul 26
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on July 26, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.52 trillion US dollars, witnessing an increase of 3.2% compared to yesterday; the total trading volume is 92.84 billion US dollars, marking a decline of 16.9% from the previous day.
According to sosovalue, the price of $BTC is 67,372 USD, an increase of 3.57% from yesterday. The market cap of $BTC is 1.33 trillion USD, accounting for 52.8% of the total market cap; $BTC's 24-hour trading volume is 34.12 billion USD, making up 36.8% of the total trading volume.
The price of $ETH is 3,247.6 USD, up 2.57% from yesterday; the market cap of $ETH is 390.49 billion USD, representing 15.5% of the total market cap; $ETH's 24-hour trading volume is 18.42 billion USD, comprising 19.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 56.6% 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 17:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Chain Games. As of 17:55 today, its market cap is 7.56M, with a coin price of 0.022475 USD, witnessing a 24-hour increase of 91.3%.
The second is ForTube. As of 17:55 today, its coin price is 0.020390 USD, with a 24-hour increase of 58.8%.
The third is BarnBridge. As of 17:55 today, its coin price is 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is IRISnet. As of 17:55 today, its coin price is 0.019900 USD, with a 24-hour rise of 40.8%.
In fifth place is Firo. As of 17:55 today, its coin price is 1.6450 USD, increasing by 38.1% 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, 15 are up and 1 is down. Notably, AI, DePIN, and DeFi sectors are worth mentioning.
AI sector has risen 5.75% relative to the UTC 0 time, led by gains in CTXC (27.5%), TRAC (19.9%), and NFP (13.2%).
DePIN sector has increased 5.73% relative to UTC 0, with HONEY (16%), DVPN (14.6%), and IO (12.7%) leading the rise.
DeFi sector has risen 4.88%, with FOR (45.9%), BOND (44.4%), and UMA (23.9%) 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:U.S. presidential candidate Robert F. Kennedy Jr. said that if elected, he would urge the federal government to buy Bitcoin until its Bitcoin holdings match the size of the country's gold reserves. The U.S. government is the world's largest gold owner, with 8,134 tons of gold worth $615 billion. Kennedy advocated no capital gains tax on cryptocurrencies.
Next news:Foresight News reported that according to The Block, U.S. Senator Roger Marshall has withdrawn from the crypto anti-money laundering bill he initially co-sponsored with Democratic Senator Elizabeth Warren, becoming the first co-sponsor to do so. Warren and Marshall first introduced the bill in December 2022 to strengthen the U.S. anti-money laundering rules for digital assets. The bill was reintroduced in July 2023 and received support from the Bank Policy Institute representing banking giants such as Bank of America and Citigroup. However, the crypto industry has long opposed the bill, suggesting that it is ineffective in decentralized finance and that excessive regulation in this field will stifle innovation.
Next news:According to Coinpost, the Japanese exchange BitFlyer has announced the completion of the acquisition of 100% of the circulating shares of FTX Japan, making FTX Japan its wholly-owned subsidiary. FTX Japan will develop new cryptocurrency custody services under bitFlyer Holdings. It is also stated that in the future, once the Japanese legal framework is in place, they plan to offer services related to cryptocurrency spot ETFs.
Next news:Economists at Bank of America expect the Federal Reserve to maintain the policy rate unchanged in July, while indicating progress in reducing inflation. The bank's economists stated in a note that the Fed is optimistic about the possibility of a recent rate cut, but is unlikely to signal a definite rate cut in September. They noted, "(A rate cut in September) is possible, but it depends on the data. This is the overall tone of most FOMC members who have recently spoken publicly. Although the inflation data is encouraging, more evidence is needed before starting the normalization of policy rates." Overall, Bank of America still believes that the Fed will cut rates once in December this year, while not too concerned about the risk of a significant economic slowdown. Economists said, "We believe the market is once again too optimistic about the upcoming rate cut cycle."
Next news:Wu learned that Coinbase announced the addition of three new board members, including OpenAI executive Chris Lehane, former U.S. Deputy Attorney General Paul Clement, and Aon Chief Financial Officer Christa Davies. Chris Lehane will provide strategic consulting to Coinbase's leadership; Paul Clement will offer compliance and regulatory advice to Coinbase; Christa Davies will support financial management across Coinbase's global operations.
Next news:Foresight News reports that according to The Verge, OpenAI is set to launch an AI search engine called SearchGPT. SearchGPT is an AI-powered search engine that can access information on the internet in real-time. Currently, OpenAI is testing the new search feature within a small user group, where searches will be answered with more timely information and prominent source links. SearchGPT will be released as a prototype for web browsers, providing users with an independent search experience. Additionally, OpenAI mentioned that they are collaborating with creators and publishers to gather feedback on the new tool and plan to integrate the best search features into ChatGPT.
Next news:According to Coinglass data, a total of 34.33 million USD was liquidated across the entire network in the past 4 hours, with short positions liquidated at 31.47 million USD and long positions liquidated at 2.85 million USD.
Next news:The U.S. core PCE price index for June rose by 0.2% on a monthly basis, exceeding the expected 0.1% and the previous value of 0.10%. The annual core PCE price index for June in the U.S. reached 2.6%, surpassing the expected 2.5%. Traders anticipate that the Federal Reserve will keep interest rates unchanged in July and commence a rate cut in September.
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.