SoSo Daily Aug 6

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on August 6, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.05 trillion US dollars, witnessing an increase of 8.46% compared to yesterday; the total trading volume is 195.26 billion US dollars, marking a decline of 21% from the previous day.

According to sosovalue, the price of $BTC is 55,242 USD, an increase of 7.6% from yesterday. The market cap of $BTC is 1.09 trillion USD, accounting for 53.3% of the total market cap; $BTC's 24-hour trading volume is 77.64 billion USD, making up 39.8% of the total trading volume.
The price of $ETH is 2,460.4 USD, up 7.42% from yesterday; the market cap of $ETH is 295.89 billion USD, representing 14.5% of the total market cap; $ETH's 24-hour trading volume is 41.25 billion USD, comprising 21.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 60.9% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is BarnBridge (BOND). As of 11:55 today, its market cap is 20.89M, with a coin price of 2.1520 USD, witnessing a 24-hour increase of 44.4%.
The second is V.SYSTEMS (VSYS). As of 11:55 today, its coin price is 0.0015550 USD, with a 24-hour increase of 19%.
The third is Skey Network (SKEY). As of 11:55 today, its coin price is 0.059780 USD, showing a 24-hour increase of 16.6%.
In fourth place is DSLA Protocol (DSLA). As of 11:55 today, its coin price is 0.00024200 USD, with a 24-hour rise of 14.7%.
In fifth place is L7DEX (LSD7). As of 11:55 today, its coin price is 0.0044600 USD, increasing by 9.31% 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, Meme, AI, and DePIN sectors are worth mentioning.
Meme sector has risen 18.8% relative to the UTC 0 time, led by gains in mumu (69.1%), brett (47.5%), and popcat (46.6%).
AI sector has increased 17.1% relative to UTC 0, with akt (31.7%), tao (30.7%), and nos (30.4%) leading the rise.
DePIN sector has risen 14.5%, with shdw (35.8%), honey (34.1%), and akt (31.7%) 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 August 5th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $168.44M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $69.12M, bringing GBTC's total historical net outflow to $19.13B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 21.81M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $240.81M.

Following that, VanEck's ETF HODL had a daily net inflow of $3.00M, with HODL's total historical net inflow reaching $578.60M.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $48.43B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.51%. The historical cumulative net inflow has reached $17.34B.

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

Next news:Foresight News: According to Bitget market data, Bitcoin has dropped below 50000 USDT, currently trading at 49974.90 USDT, with a daily decline of 14.20%.
Next news:Odaily Planet Daily News: According to OKX market data, $BTC has dropped below 61000 USDT, currently trading at 60995 USDT, with a 24-hour decrease of 6.12%.
Next news:Foresight News reported that according to The Block, Capula Investment Management, the fourth-largest hedge fund in Europe, submitted a document to the U.S. Securities and Exchange Commission (SEC) on Monday, showing that as of June 30, the company held $464.00 million worth of Bitcoin spot ETFs from BlackRock and Fidelity. Despite the decline in Bitcoin prices, the value of the positions held by Capula at the end of last quarter is now approximately $420 million.
Next news:Foresight News: According to Bitget market data, Bitcoin has risen above 56,000 USDT, currently trading at 56,052.60 USDT, with a daily increase of 3.79%.
Next news:Zircuit, a ZK rollup with AI-driven sequencer-level security and parallel circuits, announced that its mainnet Phase 1 has been launched. This phase includes the initiation of Zircuit mainnet festival, aiming to reward users with ZRC tokens and provide opportunities to win prizes. Additionally, as a token of appreciation for user participation in the staking program, Zircuit has started the distribution of the first season's airdrop.

Users can now bridge funds to the Zircuit mainnet and interact with multiple projects in the ecosystem. Developers are also encouraged to deploy applications on this platform. During the mainnet festival, users will receive ZRC tokens when paying gas fees and have the chance to win special prizes, including 100,000 ZRC.

The first phase of the mainnet sets a limit on the bridging amount, initially supporting only $ETH bridging, with other assets to be gradually added. Martin Derka, co-founder of Zircuit, stated that this is a significant milestone and looks forward to building decentralized applications on Zircuit in the future.

For more information, please visit Zircuit or read the developer documentation at docs.zircuit.com.
Next news:Odaily Planet Daily News: During an interview, Trump was asked about the recent sale of cryptocurrencies by the US government and whether he would still support cryptocurrencies if he wins the November election. He stated that the US government should not sell cryptocurrencies but should instead build on them. Additionally, Trump referred to cryptocurrencies as a "very modern currency" and likened them to artificial intelligence. He had previously expressed his desire for the US to become a major Bitcoin mining country. According to Arkham Intelligence, last week, a wallet believed to belong to the US government transferred $2 billion worth of Bitcoin to an unknown wallet address. The US government currently holds approximately $11.10 billion worth of cryptocurrencies. (The Block)
Next news:SEC lawyers are opposing Coinbase's extensive subpoena requests for documents related to crypto, describing them as 'breathtakingly broad'.
Next news:Wu learned that according to the market data on Binance, Bitcoin has broken through 55000 USDT, currently trading at 55638 USDT, with a 24-hour decrease narrowed to 3%. Ethereum has broken through 2500 USDT, currently trading at 2503 USDT, with a 24-hour decrease narrowed to 5.88%.
Next news:Foresight News reported that John Schulman, co-founder and key leader of OpenAI, has left to join the AI company Anthropic, a competitor founded by former OpenAI researchers. According to a source, Peter Deng, who joined the company last year as a product manager, has also resigned. He previously served as a product manager at Meta, Uber, and Airtable. In addition, Greg Brockman, the president of OpenAI and one of the 11 co-founders, will extend his leave.

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.