SoSo Daily Aug 28
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on August 28, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.17 trillion US dollars, witnessing a decrease of 4.83% compared to yesterday; the total trading volume is 121.93 billion US dollars, marking an increase of 42.4% from the previous day.
According to sosovalue, the price of $BTC is 58,646 USD, a decrease of 5.31% from yesterday. The market cap of $BTC is 1.16 trillion USD, accounting for 53.4% of the total market cap; $BTC's 24-hour trading volume is 42.66 billion USD, making up 35% of the total trading volume.
The price of $ETH is 2,501.9 USD, down 3.26% from yesterday; the market cap of $ETH is 300.98 billion USD, representing 13.9% of the total market cap; $ETH's 24-hour trading volume is 21.32 billion USD, comprising 17.5% 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 52.5% 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 BarnBridge (BOND). As of 17:55 today, its market cap is 20.89M, with a coin price of 2.1520 USD, witnessing a 24-hour increase of 44.4%.
The second is IDEX. As of 17:55 today, its coin price is 0.051090 USD, with a 24-hour increase of 25.6%.
The third is Polkamarkets (POLK). As of 17:55 today, its coin price is 0.015150 USD, showing a 24-hour increase of 21.1%.
In fourth place is V.SYSTEMS (VSYS). As of 17:55 today, its coin price is 0.0015550 USD, with a 24-hour rise of 19%.
In fifth place is ECOx. As of 17:55 today, its coin price is 0.10550 USD, increasing by 18.8% 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, 0 are up and 16 are down. Notably, Meme, Layer2, and RWA sectors are worth mentioning.
Meme sector has fallen -6.37% relative to the UTC 0 time, led by declines in sfm (-36.6%), dog (-18.5%), and ordi (-17.1%).
Layer2 sector has decreased -7.86% relative to UTC 0, with SAGA (-14.8%), matic (-11.8%), and DYM (-11.7%) leading the drop.
RWA sector has fallen -8.73%, with mkr (-15.1%), PRCL (-14.3%), and tru (-10.5%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Telegram CEO Pavel Durov has been released from French custody and is set to appear in court facing potential charges. His arrest on August 24 was linked to allegations of providing services through Telegram for criminal activities such as money laundering and drug trafficking. Reports also suggest past interactions between Durov and French President Macron regarding Telegram's operations in France, and allegations of espionage involving French spies and the UAE. Additionally, Telegram's blockchain platform, TON, experienced a temporary outage but has resumed normal operations.
Next news:
According to SoSoValue, as of August 27th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $127.05M.
Yesterday, Grayscale's ETF GBTC had a net outflow of $18.32M, bringing GBTC's total historical net outflow to $19.75B.
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 $356.69M.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $57.07B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.67%. The historical cumulative net inflow has reached $17.95B.
Source: https://sosovalue.com/assets/etf
Next news:Sony is launching the first public testnet for its Optimism-based Soneium blockchain. Sony Block Solutions Labs is initiating a testnet and developer incubation program for the Soneium network, marking a significant step in Sony Group Corporation's entry into Web3. The Soneium blockchain, a Layer 2 Ethereum-based network, aims to provide a cost-effective development environment for consumer-grade applications. Partners like Circle, Optimism, Alchemy, The Graph, Chainlink, and the Astar Network will be early experimenters. The project, a collaboration between Sony Group Corporation and Startale Labs, plans to integrate the ASTR token on the EVM-compatible Minato testnet. Astar Network will also integrate its zkEVM assets with Soneium to enhance liquidity. Sony subsidiaries, including SonyMusic, SONY Pictures, and the Sony Innovation Fund, will participate in the Soneium Spark incubation program, offering up to $100,000 in starting capital to applicants.
Next news:Hong Kong Markets Authority has launched a tokenization sandbox named Ensemble, where HSBC bank has successfully completed three proof of concepts.
Next news:OpenSea CEO Devin Finzer announced that the NFT marketplace has received a Wells Notice from the SEC, indicating potential enforcement action. Finzer expressed surprise and readiness to defend against the SEC's claim that NFTs on their platform are securities. He highlighted the impact this could have on innovation and the digital creator community, noting that many lack the resources to fight legal battles. OpenSea has committed $5 million to assist NFT creators and developers with legal fees in case they receive similar notices. The SEC has previously taken actions suggesting NFTs might be considered securities.
Next news:The TON Blockchain experienced a 6-hour outage but has since resumed operations. This event is part of the broader context of crypto market movements, including the latest price changes in bitcoin, as reported on August 28, 2024, in CoinDesk's daily newsletter, First Mover.
Next news:Australia's national police agency reported that Australians lost approximately AUD 180 million ($122 million) in cryptocurrency to investment scams over a 12-month period. The police emphasized the increasing sophistication and proliferation of these scams, urging the public to be more vigilant.
Next news:Osprey Bitcoin Trust (OBTC) sponsor Osprey Funds has entered an agreement with the Bitwise Bitcoin ETF (BITB) and Bitwise Asset Management, in which BITB will acquire all of the OBTC fund's assets. The move comes after Osprey noted that it was considering a potential sale or merger with a bitcoin ETF amid other strategic maneuvers in March of this year. Osprey had until Sept. 1, 2024, to complete the sale or merger, or else it would have liquidated OBTC. As part of this transaction, OBTC unitholders will receive shares of BITB as part of a liquidating distribution of OBTC. For existing BITB holders, there will be no changes to their shares or any changes to the operation of BITB, Osprey Funds wrote in a Tuesday release. BITB's acquisition of OBTC follows Bitwise's acquisition of the London-based crypto exchange-traded products issuer ETC Group on Aug. 19, The Block previously reported. BITB brought in $55.95 million in daily trading volume on Aug. 26, 2024, according to The Block's Data Dashboard. Bitwise's fund maintains 4.69% of the total spot bitcoin ETF market share.
Next news:On August 27, the total net outflow of Ethereum spot ETF was $3.4452 million, and it has been outflowing for nine consecutive days. Grayscale ETF ETHE had a net outflow of $9.1798 million in a single day, Fidelity ETF FETH had an inflow of $3.8792 million, and Bitwise ETF ETHW had an inflow of $1.8554 million.
Next news:The CEO of Haru Invest, a South Korean crypto earning company, was attacked with a weapon in court and stabbed in the neck several times with a short knife. South Korean prosecutors charged three executives of Haru Invest with stealing about $826 million in cryptocurrency from about 16,000 users.
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.