Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM 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 2.09% compared to yesterday; the total trading volume is 67.46 billion US dollars, marking a decline of 28% from the previous day.
According to sosovalue, the price of $BTC is 64,136 USD, a decrease of 0.0379% 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 18.08 billion USD, making up 26.8% of the total trading volume.
The price of $ETH is 2,771.7 USD, down 0.887% from yesterday; the market cap of $ETH is 333.43 billion USD, representing 14.1% of the total market cap; $ETH's 24-hour trading volume is 9.89 billion USD, comprising 14.7% 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 41.5% 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, all are down. Notably, Layer2, Meme, and SocialFi sectors are worth mentioning.
Layer2 sector has fallen -4.23% relative to the UTC 0 time, led by declines in BLAST (-8.69%), MERL (-8.3%), and zkf (-7.68%).
Meme sector has decreased -5.15% relative to UTC 0, with NOT (-21.5%), tama (-16.1%), and APU (-15.8%) leading the drop.
SocialFi sector has fallen -13%, with ton (-14.7%), gft (-9.81%), and cyber (-7.54%) leading the decline.
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:Telegram CEO Pavel Durov was arrested in France, leading to a 14% drop in the value of TON. The arrest was due to a warrant issued by France's OFIM, related to Telegram's insufficient moderation and lack of cooperation with law enforcement concerning violence against minors.
Next news:Regarding the arrest of Telegram founder Pavel Durov in France, Vitalik commented: I've criticized Telegram before for not being serious with encryption. But (given the info available so far: the charge seems to be just being "unmoderated" and not giving up people's data), this looks very bad and worrying for the future of software and comms freedom in Europe.
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:TON: We want to assure everyone that the TON community remains strong and fully operational. As a community committed to freedom of speech and decentralization, we stand firmly by Pavel during this challenging time. Pavel has been a dedicated advocate for these values, and we believe his efforts to promote an open and decentralized internet will continue to inspire millions.
Next news:Odaily Planet Daily News: Elon Musk released a video with the #FreePavel tag on X, once again showing support for Telegram founder Pavel Durov. In the video, Pavel Durov was interviewed and said, "Musk's acquisition of X has made speech more free, which is a great advancement. X is dedicated to innovation, empowering creators, and humanity needs more social media platforms like X and Telegram that uphold freedom of speech."
Next news:According to Lookonchain monitoring, the largest holder of memecoin WIF on Solana once again spent 1.54 million USDC to buy 800,556 WIF at $1.92. This whale currently holds 28 million WIF (53.23 million US dollars), and the profit of WIF has exceeded $77 million.
Next news:Vitalik said that the kinds of applications that he want to see are applications that are useful in a sustainable way and don't sacrifice on the principles (permissionlessness, decentralization, etc). DEXes are great and he use them every week. Decentralized stablecoins (eg. RAI) and polymarket are great.
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:Foresight News reported that WazirX issued a statement on X, stating: "The decision to take the restructuring path may raise some concerns, but we want to emphasize that this is the most favorable and legal way to address the current issues related to crypto. We believe this direction is in the best interest of the platform users, enabling us to move forward effectively. Unfortunately, external parties who have not invested in the platform may, for their own reasons, attempt to prolong this situation. Their intent seems to be to maintain uncertainty rather than seek solutions. Our primary goal is to help users recover funds as much as possible while exploring ways to enhance value. Rest assured, we are continuously evaluating all available options, but as mentioned earlier, these solutions take time and patience. Additionally, we are actively seeking various legal avenues and bounty programs to recover stolen assets. These efforts are ongoing, and we remain fully committed to achieving the best outcome for users. More details about the restructuring process will be provided next week. Please remember, this is not bankruptcy or liquidation - those paths take years to resolve. Be cautious of individuals who may try to influence your choices for personal gain. Unfortunately, some are trying to exploit this situation for their own benefit. We encourage everyone to focus on restructuring to achieve the most effective and prompt solution.
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.