SoSo Daily Aug 6

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on August 6, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.09 trillion US dollars, witnessing an increase of 4.02% compared to yesterday; the total trading volume is 147.27 billion US dollars, marking a decline of 53.2% from the previous day.

According to sosovalue, the price of $BTC is 56,506 USD, an increase of 3.29% from yesterday. The market cap of $BTC is 1.12 trillion USD, accounting for 53.3% of the total market cap; $BTC's 24-hour trading volume is 58.21 billion USD, making up 39.5% of the total trading volume.
The price of $ETH is 2,483.8 USD, up 0.573% from yesterday; the market cap of $ETH is 298.69 billion USD, representing 14.3% of the total market cap; $ETH's 24-hour trading volume is 30.08 billion USD, comprising 20.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 59.9% 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 17:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is BarnBridge. As of 17:55 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. As of 17:55 today, its coin price is 0.0015550 USD, with a 24-hour increase of 19%.
The third is Skey Network. As of 17:55 today, its coin price is 0.059780 USD, showing a 24-hour increase of 16.6%.
In fourth place is DSLA Protocol. As of 17:55 today, its coin price is 0.00024200 USD, with a 24-hour rise of 14.7%.
In fifth place is L7DEX. As of 17:55 today, its coin price is 0.0044600 USD, increasing by 9.31% over the last 24 hours.

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 reports that Ronin has stated that white hat hackers have successfully returned approximately 10 million USD worth of $ETH, with USDC expected to be returned later tonight. The bug bounty program will reward the white hat with a bounty of 500,000 USD. Before reopening, the Ronin cross-chain bridge will undergo a comprehensive audit, with audit progress being promptly updated to the community. Additionally, Ronin has stated that they will collaborate with validators to plan a transformation of the bridge's operational structure to enhance security and efficiency.
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 Whale Alert monitoring, the USDC Treasury has minted approximately 250 million USDC on the Solana blockchain around 20:12 today.
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.
Next news:Binance, the world's largest cryptocurrency exchange, has challenged a nearly $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI).
Next news:Foresight News: According to Bitget market data, Bitcoin has broken through $56,000, rising by 3.12% in nearly 20 minutes. The intraday high reached 56,317.48 USDT, currently trading at 56,266.89 USDT, with a 24-hour increase of 4.19%.

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.