SoSo Daily Aug 14

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on August 14, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.18 trillion US dollars, witnessing a decrease of 2.37% compared to yesterday; the total trading volume is 89.11 billion US dollars, marking an increase of 3.82% from the previous day.

According to sosovalue, the price of $BTC is 59,172 USD, a decrease of 3.26% from yesterday. The market cap of $BTC is 1.17 trillion USD, accounting for 53.5% of the total market cap; $BTC's 24-hour trading volume is 28.80 billion USD, making up 32.3% of the total trading volume.
The price of $ETH is 2,658.6 USD, down 2.01% from yesterday; the market cap of $ETH is 319.76 billion USD, representing 14.6% of the total market cap; $ETH's 24-hour trading volume is 15.99 billion USD, comprising 17.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 50.2% 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 (BOND). 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 Picasso (PICA). As of 17:55 today, its coin price is 0.00083500 USD, with a 24-hour increase of 27.3%.
The third is Shark Cat (SHARKCAT). As of 17:55 today, its coin price is 0.016340 USD, showing a 24-hour increase of 26.6%.
In fourth place is Chain Games (CHAIN). As of 17:55 today, its coin price is 0.048041 USD, with a 24-hour rise of 22.4%.
In fifth place is QuarkChain (QKC). As of 17:55 today, its coin price is 0.011136 USD, increasing by 19.8% 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, 2 are up and 14 are down. Notably, SocialFi and Meme sectors are worth mentioning.
SocialFi sector has risen 8.17% relative to the UTC 0 time, led by gains in TON (9.73%), BERRY (3.27%), and TAKI (2.91%).
Layer2 sector has decreased -3.44% relative to UTC 0, with ZKF (-8.62%), SAGA (-7.85%), and TIA (-7.15%) leading the drop.
Meme sector has fallen -3.54%, with DINO (-16.5%), TREMP (-10.2%), and TSUKA (-9.55%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Goldman Sachs has disclosed ownership of over $400 million in bitcoin ETFs, as revealed in a recent 13F filing.
Next news:Sahara Labs, a crypto-AI startup, has raised $37 million in a strategic funding round co-led by Pantera Capital and Polychain Capital. The round also included investors like Binance Labs, Samsung Next, and others. This funding follows a $6 million seed round, bringing the total to $43 million. Sahara Labs, co-founded by Sean Ren and Tyler Zhou, is developing the Sahara AI platform aimed at democratizing AI through a decentralized blockchain approach. The platform will feature an AI-native blockchain, a marketplace for AI assets, and development tools to support collaborative AI development and deployment. Sahara AI also has partnerships for use cases in various sectors, including entertainment and automotive.
Next news:

According to SoSoValue, as of August 13th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $38.94M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $28.65M, bringing GBTC's total historical net outflow to $19.49B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 0.00 ，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $273.99M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $34.55M, with IBIT's total historical net inflow reaching $20.36B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $22.56M, with FBTC's total historical net inflow reaching $9.74B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $55.34B, 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 $17.40B.

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

Next news:The U.S. announced that the seasonally adjusted core CPI monthly rate in July was 0.2%, which was expected to be 0.20% and the previous value was 0.10%. The U.S. unadjusted CPI annual rate in July was 2.9%, which was expected to be 3.0% and the previous value was 3.0%.
Next news:MetaMask has launched a new blockchain-based debit card in collaboration with Mastercard and Baanx. This innovative card enables MetaMask users to make purchases directly from their self-custodial crypto wallets, enhancing the usability of cryptocurrencies for everyday transactions.
Next news:

Foresight News reported that according to Bitget market data, Bitcoin has dropped below 59000 USDT, currently trading at 58948 USDT, with a 1% decrease in the past 24 hours.

Next news:Odaily Planet Daily News: Futures trading indicates that the probability of the Fed cutting interest rates by 25 basis points at the September meeting is 56.5%, while the probability of a 50 basis points cut is 43.5%. The U.S. core CPI in July rebounded as expected, but the trend remains consistent with cooling inflation, not altering the expectation of a rate cut by the Fed next month. The U.S. Bureau of Labor Statistics stated on Wednesday that after a 0.1% decrease in June, the CPI rose by 0.2% month-on-month in July, with a year-on-year increase of 2.9%. Due to the rise in borrowing costs leading to a cooling demand, the year-on-year growth rate of CPI has significantly slowed down from its peak. Although the inflation rate remains high, it is moving towards the Fed's 2% target. The Fed's options for a rate cut in September are between 25 and 50 basis points; however, economists believe that the labor market must deteriorate significantly for the Fed to cut rates by 50 basis points.
Next news:Spot Ethereum ETFs have recorded $24 million in net inflows, while Grayscale’s Ethereum Trust (ETHE) has experienced a shift back to negative flows.
Next news:Australia’s securities watchdog sues ASX over alleged ‘misleading’ claims on paused blockchain project
Next news:Coinbase is promoting cbBTC, a new alternative to wrapped Bitcoin, designed for the Base blockchain. Tweets from the crypto exchange and Jesse Pollack, the creator of Base, indicate that cbBTC could operate on this layer-2 blockchain.

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.