SoSo Daily Aug 25
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM Hong Kong time on August 25, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.36 trillion US dollars, witnessing a decrease of 0.737% compared to yesterday; the total trading volume is 73.09 billion US dollars, marking a decline of 33.1% from the previous day.
According to sosovalue, the price of $BTC is 64,136 USD, an increase of 0.231% from yesterday. The market cap of $BTC is 1.27 trillion USD, accounting for 53.7% of the total market cap; $BTC's 24-hour trading volume is 21.22 billion USD, making up 29% of the total trading volume.
The price of $ETH is 2,763.2 USD, up 0.269% from yesterday; the market cap of $ETH is 332.41 billion USD, representing 14.1% of the total market cap; $ETH's 24-hour trading volume is 11.58 billion USD, comprising 15.8% 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 44.8% 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 05:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Cratos. As of 05:55 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 05:55 today, its coin price is 0.036640 USD, with a 24-hour increase of 50.5%.
The third is MAPS. As of 05:55 today, its coin price is 0.017952 USD, showing a 24-hour increase of 47.2%.
In fourth place is BarnBridge. As of 05:55 today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Velodrome Finance. As of 05:55 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, 7 are up and 9 are down. Notably, the NFT and SocialFi sectors are worth mentioning.
The NFT sector has risen 4.01% relative to the UTC 0 time, led by gains in TDROP (44.4%), AUDIO (17.8%), and GQ (15.2%).
The SocialFi sector has decreased -12.9% relative to UTC 0, with TON (-14.9%), BERRY (-6.08%), and RSS3 (-5.6%) leading the drop.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Odaily Planet Daily News: Yekaterina Mizulina, the head of the Russian Security Internet Alliance, believes that the arrest of Pavel Durov, one of the founders of Telegram, in France was at the request of the United States. She wrote on her personal Telegram channel: "I have long believed that it is very dangerous for the leader of Telegram to be outside Russia, as he could be arrested at any time, as has happened before at the request of the United States. I used to think that no one touched him because he might be cooperating with Western intelligence agencies, but recent news suggests that everything seems different." In addition, Mizulina believes that Durov's arrest is to crack down on the circulation of the super currency Toncoin on Telegram. She stated that this way, the United States will continue its sanction policy. (Jinshi)
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: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 DeFiLlama data, the trading volume on the Ethereum blockchain DEX on August 24th was 1.41 billion USD, ranking first. In addition, the trading volume on the Solana blockchain DEX yesterday was 843.15 million USD, reclaiming the second position; the trading volume on the BSC blockchain DEX yesterday was 725.94 million USD, ranking third, surpassing Solana and securing the second position for three consecutive days prior.
Next news:Foresight News reports that Elon Musk posted a video on X with the #FreePavel tag, once again showing support for Telegram founder Pavel Durov. In the video, Pavel Durov is interviewed and states, "Musk's acquisition of X has made speech more free, which is a great advancement. Humanity needs more social media platforms like X and Telegram that uphold freedom of speech."
Next news:Wu learned that, according to Ord io data, today Bitcoin's on-chain Runes activity ranks first, accounting for 69.1% of all transactions. According to Geniidata, the total trading volume of Runes in 24 hours is approximately 1.36 million US dollars, with a total market value of about 850 million US dollars and a growth rate of 6.36%.
Next news:Odaily Planet Daily News Recently, the documents submitted in the bankruptcy application by FTX detailed the objections of the U.S. trustee and a group of creditors to the revised restructuring plan of the bankruptcy exchange. The U.S. trustee listed ten defects in the revised restructuring plan. FTX estate stated that a significant proportion of creditors support the restructuring plan. Most importantly, trustee Andrew R. Vara pointed out that many involved in the bankruptcy have received extensive legal exemptions, creditors are not being repaid equally based on the scale, and the bankruptcy estate management company refuses to share the costs related to the data breach suffered by its service provider last year. "Real estate professionals have sought millions of dollars in compensation to deal with the Kroll data breach incident... Debtors' assets should not bear this cost. The fee examiner also agrees with this view," Vara's document stated. Vara also objected to the unequal treatment of creditors based on the scale of claims in the distribution scheme. "Here, 'convenience' level customers (119%)... will receive a smaller percentage allocation than other customers (up to 143%) simply because their claims are smaller (usually $50,000 or less). On the effective date, debtors will have enough cash to pay convenience claimants the same percentage as other customer claims... The legal attributes of these customer claims do not have a clear distinction," Vara also raised some more technically strong legal arguments, but the most important may be his opposition to the 'overly broad' waivers provided to FTX estate managers and advisors in the plan, or forgiveness for any misconduct. Vara wrote, "This waiver will far exceed the protection afforded to real estate professionals employed and compensated under the supervision and approval of the court in the case, as required by relevant regulations." (The Block) Earlier, FTX Trading Ltd. and its affiliated debtors announced that the revised restructuring plan submitted to the U.S. Bankruptcy Court in Delaware has received preliminary support from all categories of eligible voting creditors, including FTX U.S. and FTX Dotcom customer categories. FTX will submit the final voting results to the U.S. Bankruptcy Court in Delaware before the confirmation hearing scheduled to begin on October 7, 2024.
Next news:Coinbase CEO Brian Armstrong released an on-chain address score query website. The query results show the on-chain score, including Ethereum and Base transaction numbers, active days and other data. The platform will be upgraded to support ENS and Basenames domain names in the future.
Next news:QCP: $BTC finally got the recovery that we've been waiting for. It seems Powell's speech at Jackson Hole was the catalyst it needed to breakout of the 58k-62k range. Rate cuts are confirmed for Sep but there was no indication on how much, so August Payrolls will be critical. US elections accompanied with bullish seasonality could be the catalyst for all-time-highs in Q4.
Next news:
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
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.