SoSo Daily Aug 24

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on August 24, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.38 trillion US dollars, witnessing an increase of 2.77% compared to yesterday; the total trading volume is 93.72 billion US dollars, marking an increase of 14.8% from the previous day.

According to sosovalue, the price of $BTC is 64,029 USD, an increase of 1.63% from yesterday. The market cap of $BTC is 1.26 trillion USD, accounting for 53.2% of the total market cap; $BTC's 24-hour trading volume is 33.20 billion USD, making up 35.4% of the total trading volume.
The price of $ETH is 2,781.8 USD, up 2.01% from yesterday; the market cap of $ETH is 334.65 billion USD, representing 14.1% of the total market cap; $ETH's 24-hour trading volume is 14.83 billion USD, comprising 15.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 51.2% 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 Cratos. As of 17:55 today, its market cap is 41.18M, with a coin price of 0.00067780 USD, witnessing a 24-hour increase of 51.3%.
The second is Sun Token. As of 17:55 today, its coin price is 0.036640 USD, with a 24-hour increase of 50.5%.
The third is MAPS. As of 17:55 today, its coin price is 0.017952 USD, showing a 24-hour increase of 47.2%.
In fourth place is BarnBridge. As of 17:55 today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Velodrome Finance. As of 17:55 today, its coin price is 0.10100 USD, increasing by 43.5% 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, NFT, Meme, and Layer2 sectors are worth mentioning.
NFT sector has risen 5.97% relative to the UTC 0 time, led by gains in tdrop (47.8%), looks (20.2%), and gq (17.8%).
Meme sector has increased 5.78% relative to UTC 0, with $BEER (58.3%), SC (39.2%), and wojak (32%) leading the rise.
Layer2 sector has risen 4.59%, with rly (21.5%), DYM (19.1%), and SAGA (13.9%) 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 23th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $252.00M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $35.55M, bringing GBTC's total historical net outflow to $19.73B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 50.83M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $356.69M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $86.83M, with IBIT's total historical net inflow reaching $20.71B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $64.00M, with FBTC's total historical net inflow reaching $9.89B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $58.43B, 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 $17.88B.

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

Next news:Robert Kennedy Jr. has suspended his independent presidential campaign and endorsed former President Donald Trump, urging his supporters to vote for Trump in key battleground states. This move aligns the Kennedy name with the Republican candidate in the upcoming election.
Next news:Ethereum spot ETF had a total net outflow of $5.6976 million on August 23, and continued net outflow for 7 consecutive days. Grayscale ETF ETHE had an outflow of $9.7656 million, and VanEck ETF ETHV had an inflow of $2.0063 million. The total net asset value of Ethereum spot ETF is $7.652 billion.
Next news:Marco Santori, Kraken's chief legal officer, said: the Court in Kraken's case made the same distinction as in the Ripple case: A token isn't a security, but agreements around a token could be. The SEC unqualifiedly lost on this “tokens are securities” theory, and will not be permitted to rely on it going forward.
Next news:Foresight News reported that Mudit Gupta, Chief Information Security Officer of Polygon, stated, 'I have regained access to the Polygon community Discord and am in the process of cleaning up all the changes made by the hackers to prevent future intrusions.'
Next news:Tether said it has helped 145 law enforcement agencies recover more than $108.8 million in USDT related to illicit activities since its launch in 2014. Since its launch, Tether has “voluntarily blocked” more than 1,900 cryptocurrency wallets worldwide that have been connected to illicit activity. “We unequivocally condemn the misuse of USDT or any cryptocurrency for criminal activities.”
Next news:Cryptocurrency exchange Gate has announced a partnership with FC Internazionale Milano, one of the most prestigious football clubs in the world and the reigning champions of Serie A. Starting from the 2024/25 season, Gate will become the Official Sleeve Partner for Inter.

Next news:Foresight News reported that according to The Block, Digital Currency Group (DCG) announced in this week's quarterly shareholder letter that as of June, the company has fully repaid its short-term debt, having repaid over $1 billion to creditors in the past 18 months. DCG stated that the remaining debt is the $1.10 billion note of its crypto lending arm, Genesis, due in 2032.
Next news:According to Arkham, Ethereum Foundation (0xde0) transferred 35,000 $ETH to Kraken Deposit (0xd86), worth about $94.07 million. The foundation should be selling coins for daily expenses.
Next news:Foresight News reported that according to SoSo Value data, three Bitcoin spot ETFs in Hong Kong had a net inflow of approximately 247 $BTC this week, with a total holding of about 4450 BTC. The weekly increase reached 5.9%, and the total AUM was approximately 21.13 billion Hong Kong dollars at the time of publication. Among them, the Huaxia Fund and Jia Shi International, both under OSL custody, had a total AUM of 13.37 billion Hong Kong dollars, accounting for about 63%. Another spot Bitcoin ETF had a total AUM of approximately 7.76 billion Hong Kong dollars, accounting for about 42%.

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.