SoSo Daily Jul 27

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on July 26, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.54 trillion US dollars, witnessing an increase of 3.29% compared to yesterday; the total trading volume is 83.02 billion US dollars, marking a decline of 26.1% from the previous day.

According to sosovalue, the price of $BTC is 67,908 USD, an increase of 3.2% from yesterday. The market cap of $BTC is 1.34 trillion USD, accounting for 52.8% of the total market cap; $BTC's 24-hour trading volume is 26.56 billion USD, making up 32% of the total trading volume.
The price of $ETH is 3,275.1 USD, up 3.14% from yesterday; the market cap of $ETH is 393.79 billion USD, representing 15.5% of the total market cap; $ETH's 24-hour trading volume is 14.33 billion USD, comprising 17.3% 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 49.3% 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 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Chain Games. As of 23:55 today, its market cap is 8.59M, with a coin price of 0.025524 USD, witnessing a 24-hour increase of 120%.
The second is BarnBridge. As of 23:55 today, its coin price is 2.1520 USD, with a 24-hour increase of 44.4%.
The third is MUMU THE BULL. As of 23:55 today, its coin price is 0.000088900 USD, showing a 24-hour increase of 43.9%.
In fourth place is StormX. As of 23:55 today, its coin price is 0.0094790 USD, with a 24-hour rise of 34.1%.
In fifth place is Cortex. As of 23:55 today, its coin price is 0.21820 USD, increasing by 34% 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, AI, DePIN, and Meme sectors are worth mentioning.
AI sector has risen 6.3% relative to the UTC 0 time, led by gains in CTXC (30.2%), TRAC (19.9%), and NMR (13.4%).
DePIN sector has increased 5.89% relative to UTC 0, with DVPN (14.6%), IO (12.3%), and HONEY (11%) leading the rise.
Meme sector has risen 5.81%, with MUMU (41.5%), RATS (30.1%), and $BEER (22.4%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Wu learned that, according to BitcoinMagazine, independent U.S. presidential candidate Robert F. Kennedy Jr. stated that if elected president, he would sign an executive order requiring the U.S. to purchase 550 $BTC per day to establish a reserve of 4 million BTC. He also stated, "I understand that President Trump may announce his plan tomorrow, authorizing the U.S. government to purchase one million bitcoins as strategic reserve assets, and I appreciate this statement."
Next news:

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: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: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:Japanese exchange BitFlyer announced that it has completed the acquisition of 100% of FTX Japan's shares, making FTX Japan its wholly-owned subsidiary. FTX Japan will develop new cryptocurrency custody business and plan to provide business related to crypto asset spot ETFs.
Next news:JUST IN: 🇺🇸 State of Michigan adds #Bitcoin ETFs to its pension fund, discloses $6.6 million purchase.
Next news:The U.S. announced that the core PCE price index in June was 0.2% on a monthly basis, which was expected to be 0.1% and the previous value was 0.10%. The U.S. core PCE price index in June was 2.6% on an annual basis, which was expected to be 2.5%. Traders expect the Fed to keep interest rates unchanged in July and start cutting interest rates in September.
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:Ledger has introduced a new wallet named 'Ledger Flex', which, similar to the previously launched Stax wallet, features touchscreen technology. This innovation aims to transform the user experience in self-custody of digital assets, according to CEO Pascal Gauthier.
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.

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.