SoSo Daily Aug 17

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on August 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.17 trillion US dollars, witnessing a decrease of 0.42% compared to yesterday; the total trading volume is 67.22 billion US dollars, marking a decline of 24.6% from the previous day.

According to sosovalue, the price of $BTC is 59,137 USD, an increase of 1.26% from yesterday. The market cap of $BTC is 1.17 trillion USD, accounting for 53.9% of the total market cap; $BTC's 24-hour trading volume is 23.22 billion USD, making up 34.5% of the total trading volume.
The price of $ETH is 2,599.7 USD, down 0.49% from yesterday; the market cap of $ETH is 312.69 billion USD, representing 14.4% of the total market cap; $ETH's 24-hour trading volume is 10.67 billion USD, comprising 15.9% 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 50.4% 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 SuperRare. As of 11:55 today, its market cap is 155.63M, with a coin price of 0.22340 USD, witnessing a 24-hour increase of 80.5%.
The second is Synapse. As of 11:55 today, its coin price is 0.69730 USD, with a 24-hour increase of 45.6%.
The third is BarnBridge. As of 11:55 today, its coin price is 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is Layer3. As of 11:55 today, its coin price is 0.051790 USD, with a 24-hour rise of 37.3%.
In fifth place is Banana Gun. As of 11:55 today, its coin price is 60.720 USD, increasing by 30.9% 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, 8 are up and 8 are down. Notably, the NFT sector is worth mentioning.
The NFT sector has risen 4.5% relative to the UTC 0 time, led by gains in rare (82.3%), orb (23%), and blur (8.22%).

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to SoSoValue, as of August 16th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $36.02M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $72.90M, bringing GBTC's total historical net outflow to $19.65B.

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 $287.65M.

The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $61.35M, with FBTC's total historical net inflow reaching $9.80B.

Following that, BlackRock's ETF IBIT had a daily net inflow of $20.39M, with IBIT's total historical net inflow reaching $20.39B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $54.35B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.65%. The historical cumulative net inflow has reached $17.37B.

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

Next news:US presidential candidate Trump announced that if he is re-elected as president, he will appoint Cantor Fitzgerald CEO Howard Lutnick to lead his transition team. Cantor Fitzgerald has been the custodian of Tether since the end of 2021, and Lutnick is considered a supporter of the cryptocurrency.
Next news:According to a document dated August 16, Franklin Templeton has submitted an S-1 application for a new cryptocurrency index ETF, aiming to be a one-stop cryptocurrency investment portfolio. The Franklin Crypto Index ETF will track the performance of the CF Institutional Digital Asset Index, which currently includes only Bitcoin and Ethereum. "The fund will seek to achieve its investment objective through investments in digital assets, with weights roughly similar to those they represent in the underlying index," the document said, indicating that the ETF may hold other types of cryptocurrencies in the future. (Cointelegraph)
Next news:Foresight News: According to on-chain analyst Yu Jin, the 36.78 million BLUR tokens (equivalent to $5.64 million) unlocked yesterday were transferred to Coinbase Prime 3 hours ago.
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:Wu learned that KIP Protocol, a Web3 infrastructure layer focusing on AI, announced the completion of a $5 million private placement. The funding was led by Animoca Ventures and Tribe Capital, with participation from GBV Capital, DWF Ventures, and others. KIP aims to unlock the potential of decentralized AI (DeAI) by addressing key challenges faced by AI developers in deploying, connecting, and monetizing AI products in Web3.
Next news:Foresight News reports that according to Etherscan data, the current gas fee on the Ethereum network has dropped below 1 gwei, currently at 0.83 gwei.
Next news:Bitcoin's price, currently at $59,000, could experience significant fluctuations in the coming months, drawing parallels to previous election years. According to a crypto analyst, while August might not see dramatic changes, a potential breakout could happen within the next one to two months. The analysis suggests that election years often influence Bitcoin's market behavior, leading to possible price swings.
Next news:Foresight News: According to Ember Monitor, Huang Licheng continued to buy BLAST after the market crash on August 5th: he has spent a total of 1379 $ETH to buy 330 million BLAST in the past 12 days (worth 3.58 million USD), reclaiming the top spot on the BLAST leaderboard.
Next news:Wu learned that QCP Capital's latest report pointed out that the market has shown resilience to various 'supply shocks' news regarding $BTC and $ETH this week, especially after Jump's unstaking and selling of $ETH, the market still rose, maintaining a constructive and optimistic outlook for the year-end. QCP Capital made the following comments on the market this week: the current market macro sentiment has improved, the slowdown in U.S. inflation has boosted market confidence, leading the stock market to return to historical highs. Continued interest rate cuts by major central banks such as the Reserve Bank of New Zealand have strengthened the global monetary easing trend; the market remains concerned about the selling pressure that the U.S. government's address may bring, as the U.S. government transferred 10,000 $BTC (approximately $591 million) related to the Silk Road enforcement action to a Coinbase wallet. Although the sale has not been confirmed, the market remains cautious about the remaining 203.20 thousand $BTC and other crypto assets in the wallet; Musk did not discuss cryptocurrencies at all during his 2-hour interview with Trump, which disappointed the market.

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.