SoSo Daily Aug 22

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on August 22, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing an increase of 1.84% compared to yesterday; the total trading volume is 87.62 billion US dollars, marking an increase of 18.3% from the previous day.

According to sosovalue, the price of $BTC is 61,336 USD, an increase of 3.33% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 53.7% of the total market cap; $BTC's 24-hour trading volume is 34.50 billion USD, making up 39.4% of the total trading volume.
The price of $ETH is 2,642 USD, up 2.5% from yesterday; the market cap of $ETH is 317.81 billion USD, representing 14.1% of the total market cap; $ETH's 24-hour trading volume is 12.69 billion USD, comprising 14.5% 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 53.9% 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 Aventus. As of 11:55 today, its market cap is 25.77M, with a coin price of 2.7680 USD, witnessing a 24-hour increase of 70.7%.
The second is MAGA. As of 11:55 today, its coin price is 3.8350 USD, with a 24-hour increase of 45.7%.
The third is WAGMI Games. As of 11:55 today, its coin price is 0.0000086870 USD, showing a 24-hour increase of 45.7%.
In fourth place is BarnBridge. As of 11:55 today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Alpaca Finance. As of 11:55 today, its coin price is 0.20050 USD, increasing by 38.1% 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, 15 are up and 1 is down. Notably, AI, Layer2, and DeFi sectors are worth mentioning.
AI sector has risen 7.55% relative to the UTC 0 time, led by gains in SPEC (19.6%), TAI (14%), and FET (13.5%).
Layer2 sector has increased 6.52% relative to UTC 0, with RLY (12.9%), STX (10.4%), and METIS (8.74%) leading the rise.
DeFi sector has risen 5.51%, with BOND (44.4%), ALPACA (41.9%), and QUICK (28.4%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Prometheum, a controversial crypto firm, is advancing its compliance strategy with the U.S. Securities and Exchange Commission by treating Uniswap and Arbitrum's tokens as securities. This move involves incorporating these tokens into its custody operation for crypto securities, despite differing opinions within the industry.
Next news:McDonald's Instagram account was reportedly hacked to promote a Solana-based memecoin named GRIMACE. The incident led to a temporary spike in the token's market value to $20 million before plummeting below $1 million. The promotional post was deleted, but evidence suggests it was presented as a McDonald's experiment. Additionally, the profile page hinted at a potential scam involving $700,000 in Solana. This event coincides with a period of high volatility in the Solana memecoin market, which has seen significant financial movements and record outflows.
Next news:

According to SoSoValue, as of August 21th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $39.43M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $9.82M, bringing GBTC's total historical net outflow to $19.67B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 14.20M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $301.85M.

Following that, Fidelity's ETF FBTC had a daily net inflow of $10.69M, with FBTC's total historical net inflow reaching $9.82B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $55.96B, 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 $17.56B.

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

Next news:Former FTX executive Ryan Salame has alleged in a legal filing that the government reneged on a plea deal. According to the filing, the government continued to investigate his domestic partner, Michelle Bond, the CEO of ADAM, despite promises to halt the investigation if Salame cooperated.
Next news:YouTuber Ben Armstrong and NBA star Jimmy Butler have agreed to settle a class action lawsuit related to their promotion of Binance, paying $340,000. The lawsuit, filed in March 2023, accused them and Binance of hyping unregistered securities and causing consumer damages. Both denied wrongdoing. The settlement still requires court approval. The lawsuit is part of broader legal challenges facing Binance, including actions by the CFTC and SEC alleging unregistered trading and deceptive practices.
Next news:On August 21, the total net outflow of Ethereum spot ETFs was $17.9688 million. Grayscale ETF ETHE had an outflow of $31.1431 million, Fidelity ETF FETH had an inflow of $7.9286 million, and Grayscale mini ETF $ETH had an inflow of $4.2422 million.
Next news:Nearly half of all corporate political contributions in the 2024 election cycle came from cryptocurrency companies, according to a Wednesday report from corporate influence watchdog Public Citizen.
Next news:Foresight News reported that according to Bloomberg, Binance CEO Richard Teng plans to recruit 1000 employees this year, with the majority focusing on advancing compliance efforts. This is because Binance currently spends $200 million annually to meet regulatory requirements, including those from the US under the plea agreement. Binance has been receiving an increasing number of communications from global law enforcement agencies, which have risen from 58,000 times in 2023 to 63,000 times so far this year.
Next news:The Golem multi-signature address: 0x7d...6CF9, which raised 820,000 $ETH in the ICO in 2016, transferred 4,000 $ETH to Coinbase Deposit and Binance Deposit. Currently, the Golem multi-signature address: 0x7d...6CF9 still holds 22,834 $ETH, worth about 59.81 million US dollars.
Next news:Richard Teng, the new CEO of Binance who took over from founder Changpeng "CZ" Zhao in November, is focusing on a long-term strategy for the cryptocurrency exchange. He has indicated that there is no immediate need for an Initial Public Offering (IPO) as he plans for the company's future over the next century.

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.