Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on September 2, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.11 trillion US dollars, witnessing a decrease of 2.58% compared to yesterday; the total trading volume is 67.51 billion US dollars, marking an increase of 66.5% from the previous day.
According to sosovalue, the price of $BTC is 57,791 USD, a decrease of 0.336% from yesterday. The market cap of $BTC is 1.14 trillion USD, accounting for 54.1% of the total market cap; $BTC's 24-hour trading volume is 26.63 billion USD, making up 39.4% of the total trading volume.
The price of $ETH is 2,454.4 USD, down 0.419% from yesterday; the market cap of $ETH is 295.28 billion USD, representing 14% of the total market cap; $ETH's 24-hour trading volume is 11.88 billion USD, comprising 17.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 57% 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 00 Token. As of today, its market cap is 13.54M, with a coin price of 0.0582 USD, witnessing a 24-hour increase of 56%.
The second is BarnBridge. As of today, its coin price is 2.1520 USD, with a 24-hour increase of 44.4%.
The third is L7DEX. As of today, its coin price is 0.0041820 USD, showing a 24-hour increase of 31.4%.
In fourth place is V.SYSTEMS. As of today, its coin price is 0.0015550 USD, with a 24-hour rise of 19%.
In fifth place is RabbitX. As of today, its coin price is 0.024270 USD, increasing by 18.7% 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, GameFi, and SocialFi sectors are worth mentioning.
Meme sector has fallen -3.07% relative to the UTC 0 time, led by declines in APU (-23%), people (-11.7%), and dino (-10.3%).
GameFi sector has decreased -3.25% relative to UTC 0, with ELIX (-19%), brn (-14.7%), and mix (-10.8%) leading the drop.
SocialFi sector has fallen -3.41%, with bbl (-5.59%), rfr (-4.93%), and gft (-4.7%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Wu learned that according to SoSoValue data, the Ethereum spot ETF had a net outflow of 12.60 million US dollars last week (from August 26th to August 30th, Eastern Time). Among them, Grayscale Ethereum Trust ETF ETHE had a weekly net outflow of 27.86 million US dollars. The Ethereum spot ETF with the highest net inflow last week was BlackRock ETF ETHA, with a weekly net inflow of 8.40 million US dollars. Following that is Grayscale Ethereum Mini Trust $ETH, with a weekly net inflow of 3.57 million US dollars.
Next news:The SEC has issued a warning to FTX regarding its plan to repay creditors in stablecoins or other cryptocurrencies amid its ongoing bankruptcy proceedings. FTX's strategies for creditor recovery have included proposals such as relaunching the exchange or distributing claims as tradeable tokens. Despite some support for these ideas in the crypto community, FTX's current plan is to repay in cash or stablecoins. However, the SEC has reserved the right to challenge the legality of these crypto transactions and has also objected to a discharge provision in FTX's plan that would protect debtors from future legal actions. The administrative costs of the bankruptcy have also significantly increased, with fees surpassing $800 million.
Next news:OKX, a global cryptocurrency exchange, has received a full Major Payment Institution license in Singapore and appointed Gracie Lin, a former MAS official, as the CEO of its Singapore entity, OKX SG. The license allows OKX SG to offer digital payment token and cross-border money transfer services, including spot crypto trading for Singaporean investors. Gracie Lin, with her experience at MAS, GIC, and Grab, aims to develop crypto products tailored for Singaporean needs. OKX, processing over $67 billion in crypto transactions in August, highlights its significant presence in the global market, contrasting with Binance's $448.45 billion.
Next news:Cardano, a major blockchain platform, has initiated the Chang hard fork, marking a significant shift towards decentralized governance. This transition involves a staged process over 90 days, starting with an interim committee and culminating in a fully community-led governance structure. The hard fork aims to enhance security and continuity during this period, with delegate representatives playing a crucial role. Despite its pioneering status in blockchain governance, Cardano has recently seen a decline in its market position, falling out of the top 10 cryptocurrencies.
Next news:Wu learned that according to data from The Block, Bitcoin miners' revenue in August hit a new low for the year, with subsidies and fees totaling 851.36 million USD, of which 20.76 million USD came from on-chain fees. Mining income in August decreased by 99.75 million USD compared to July, and user-contributed on-chain fees decreased by 4.14 million USD from the previous month. Between block heights 855,014 and 859,303, Bitcoin miners collectively mined 4,289 blocks, with Foundry USA mining 1,248 blocks, accounting for 29.10%, and Antpool mining 1,074 blocks, accounting for 25.04%.
Next news:Wu learned that Sandyzkp, a core contributor to Scroll, responded on social media to the alleged official account of the Scroll Foundation, @ScrollFDN, stating that the account is fake. The official Scroll account later retweeted this response, cautioning users to be wary of recent fake accounts and not to click on any related links.
Next news:Foresight News: According to Lookonchain monitoring, a whale has transferred a total of 9.57 million WIF from Binance and Bybit in the past 4 days, worth approximately 13.59 million US dollars.
Next news:
The probability of the Fed cutting interest rates by 25 basis points in September is 67%, according to CME's 'FedWatch' data. Additionally, the probability of a 50 basis points rate cut is 33%. The cumulative probability of a 50 basis points rate cut by November is 45.2%, 75 basis points rate cut is 44.1%, and 100 basis points rate cut is 10.8%.
Core contributors of Scroll responded to the issue of the unofficial Scroll Foundation account circulating online, warning users to be cautious of fake accounts. Vitalik Buterin stated that he has not sold any Ethereum for personal profit since 2018, with all sales going towards supporting valuable projects.
A recent poll shows that the competition between Harris and Trump remains neck and neck. In August, the net outflow of $94 million was observed in the US Bitcoin spot ETF, while IBIT had a net inflow of $887.00 million, and GBTC had a net outflow of $910 million. CZ may have only 4 weeks left before being released from prison.
Spartan Capital Securities suggests that US inflation may have peaked, but there is still debate over a 25 or 50 basis points rate cut. Boston Fed of the Federal Reserve points out that there is still a significant gap from the 2% inflation target.
The Coinbase team is developing an SDK to empower bot/AI agents with various functions. Polymarket's trading volume in August reached $463 million, surpassing all on-chain NFT trading volumes. DOGS will add two token claiming options to reduce network load and expedite the process.
Next news:Foresight News: OKX will delist the FRONT/USDT leveraged trading pair from 11:00 to 12:00 on September 4 and halt the borrowing function at 10:00 on September 2. The FRONTUSDT perpetual contract will be delisted on September 4 at 16:00.
Next news:Wu learned that, according to Bitcoin News, the South Korean police arrested a man in his 40s in August 2024, who was suspected of orchestrating a cryptocurrency scam, defrauding a total of 158 investors of 16 billion Korean won (approximately 12 million US dollars). The scam lasted from November 2021 to June 2022, with the suspect using a false cryptocurrency mining business as a cover, promising investors a monthly return rate of 18%. The personal losses of the victims ranged from 1.20 million Korean won to 250 million Korean won. After the suspect failed to attend a pre-trial hearing in September 2023, he underwent eye, nose, and facial contouring surgery spending around 21 million Korean won, wore a wig to alter his appearance, and successfully evaded capture for 10 months.
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.