SoSo Daily Aug 3

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on August 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing a decrease of 4.19% compared to yesterday; the total trading volume is 133.98 billion US dollars, marking an increase of 18.1% from the previous day.

According to sosovalue, the price of $BTC is 60,590 USD, a decrease of 3.97% from yesterday. The market cap of $BTC is 1.20 trillion USD, accounting for 53.2% of the total market cap; $BTC's 24-hour trading volume is 34.68 billion USD, making up 25.9% of the total trading volume.
The price of $ETH is 2,903.9 USD, down 4.02% from yesterday; the market cap of $ETH is 349.21 billion USD, representing 15.5% of the total market cap; $ETH's 24-hour trading volume is 16.55 billion USD, comprising 12.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 38.3% 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 17:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is RealFevr. As of 17:55 today, its market cap is 492.80K, with a coin price of 0.000037830 USD, witnessing a 24-hour increase of 100%.
The second is BarnBridge. As of 17:55 today, its coin price is 2.1520 USD, with a 24-hour increase of 44.4%.
The third is Dora Factory. As of 17:55 today, its coin price is 0.079400 USD, showing a 24-hour increase of 20.7%.
In fourth place is AscendEx. As of 17:55 today, its coin price is 0.044550 USD, with a 24-hour rise of 20.1%.
In fifth place is Thena. As of 17:55 today, its coin price is 0.00024920 USD, increasing by 20.4% 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, SocialFi, Meme, and RWA sectors are worth mentioning.
SocialFi sector has fallen -8.2% relative to the UTC 0 time, led by declines in cyber (-12.8%), pts (-12.5%), and bbl (-11.6%).
Meme sector has decreased -8.41% relative to UTC 0, with popcat (-24%), dog (-22.1%), and gme (-20.7%) leading the drop.
RWA sector has fallen -8.45%, with cpool (-19.1%), PRCL (-15.5%), and gfi (-12.8%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Ethereum spot ETF had a total net outflow of $54.2704 million on August 2, Grayscale ETF ETHE had a single-day outflow of $61.4314 million, Fidelity ETF FETH had a inflow of $6.0176 million, and Franklin ETF EZET had a inflow of $1.1433 million.
Next news:

According to SoSoValue, as of August 2th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $237.45M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $45.95M, bringing GBTC's total historical net outflow to $19.06B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 9.88M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $219.00M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $42.81M, with IBIT's total historical net inflow reaching $20.10B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $57.20B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.63%. The historical cumulative net inflow has reached $17.51B.

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

Next news:Former President Donald Trump suggested in a recent interview that embracing Bitcoin could help address the U.S. national debt, which stands at $35 trillion. He praised the intelligence of the crypto industry's leaders. Meanwhile, Vice President Kamala Harris, likely his opponent in the upcoming presidential race, has not stated her cryptocurrency policy. However, her campaign's 'rapid response' team criticized Trump's views on the matter.
Next news:According to Bloomberg, cryptocurrency lender Genesis Global and its related companies have completed bankruptcy reorganization and started distributing about $4 billion in cryptocurrency and cash to creditors. Bitcoin creditors will receive 51.28% of the return, Ethereum creditors will receive 65.87%, and SOL creditors will receive 29.58%.

Next news:Foresight News reports that according to Bitget market data, Bitcoin has dropped below 62,000 USDT, currently priced at 61,577 USDT, with a 24-hour decrease of 5.9%.
Next news:Wu learned that, according to Lookonchain, a potential cluster sold 14.53 million WIF on-chain today around 5:15-6:30 UTC+8 through 5 wallets, worth approximately 24 million USD. The cluster purchased these WIF at a cost of only 5,340 USD on November 30, 2023, and achieved a return of 4,497 times.
Next news:In the past week, the prices of Bitcoin ($BTC) and Ethereum ($ETH) have dropped after the interest rate meeting, while the volatility and trading volume of these two cryptocurrencies have increased since the interest rate meeting on August 1st. The open interest of Bitcoin and Ethereum has both slightly increased. In addition, the implied volatility of Bitcoin and Ethereum has decreased simultaneously. The funding rate of Bitcoin has slightly rebounded from a low level, which may reflect that market participants' leverage sentiment towards Bitcoin is gradually warming up. Market breadth indicators show that most cryptocurrencies have fallen, indicating a continued downward trend in the entire market over the past week.
Next news:According to Reuters, David Plouffe will join the campaign team of US Democratic presidential candidate Harris. Plouffe has previously joined the Binance Global Advisory Board and served as a global strategic advisor to Alchemy Pay.
Next news:Wu learned that, according to @EmberCN, the Uniswap team/investors/advisors have been continuously transferring UNI to Coinbase Prime recently. Just 1 hour ago, they transferred 1.13 million UNI (approximately $7.47 million) to Coinbase Prime. In the last 30 days, this address has transferred a total of 8.30 million UNI (approximately $65.98 million) to Coinbase Prime, with an average transfer price of $7.95.
Next news:According to Cointelegraph, Ripple's XRP market report for the second quarter of 2024 revealed a significant decrease in transaction volume on the XRP Ledger (XRPL) despite a surge in average transaction costs. The report highlighted that in the second quarter of 2024, on-chain transaction activity on XRPL dropped by 65.6%, approximately 86.38 million transactions, compared to 251.39 million transactions in the first quarter of 2023.

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.