SoSo Daily Sep 3

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on September 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.17 trillion US dollars, witnessing an increase of 1.69% compared to yesterday; the total trading volume is 69.02 billion US dollars, marking an increase of 2.24% from the previous day.

According to sosovalue, the price of $BTC is 59,175 USD, an increase of 2.41% from yesterday. The market cap of $BTC is 1.17 trillion USD, accounting for 53.9% of the total market cap; $BTC's 24-hour trading volume is 26.28 billion USD, making up 38.1% of the total trading volume.
The price of $ETH is 2,521.6 USD, up 2.75% from yesterday; the market cap of $ETH is 303.37 billion USD, representing 14% of the total market cap; $ETH's 24-hour trading volume is 11.43 billion USD, comprising 16.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.7% 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 BarnBridge (BOND). As of 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 Galaxia (GXA). As of today, its coin price is 0.0016311 USD, with a 24-hour increase of 33%.
The third is MXC. As of today, its coin price is 0.0082210 USD, showing a 24-hour increase of 27.1%.
In fourth place is Slash Vision Labs (SVL). As of today, its coin price is 0.010703 USD, with a 24-hour rise of 24.3%.
In fifth place is ORDI. As of today, its coin price is 32.350 USD, increasing by 21.7% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:
Next news:Global crypto investment products experienced significant net outflows last week, totaling $305 million, as reported by CoinShares. This shift follows a previous week of net inflows amounting to $543 million. The outflows were primarily driven by negative sentiment across various providers and regions, influenced by stronger-than-expected U.S. economic data which reduced the likelihood of a significant interest rate cut. Bitcoin-focused investment products saw the largest outflows, totaling $319 million, while short bitcoin funds and blockchain equities experienced inflows. U.S. spot Bitcoin and Ethereum ETFs also recorded net outflows, with overall trading volumes decreasing significantly.
Next news:OKX President Hong announced two major developments in Singapore in his latest blog: Firstly, OKX has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), signaling the company's long-term commitment to the Singapore market. Secondly, the company has appointed Gracie Lin as the CEO of Singapore, who will be responsible for driving market growth and investments. Additionally, OKX is optimizing its products to comply with local regulations and has achieved seamless connectivity with local bank accounts for easy access to customer funds. The company also emphasized its commitment to responsible innovation globally, including establishing strong local teams in Europe, the Middle East, the Americas, and Asia, and setting up the MiCA center in Malta to serve EU clients.
Next news:In August, DeFi protocol fees dropped 24.4% from July, marking the lowest since February, with total fees at $288.38 million. Lido led with $76.18 million, followed by Uniswap, Jito, and PancakeSwap. The decline in fees reflects reduced popularity and usage of DeFi protocols. Additionally, DeFi revenue also fell by 19.7% to $59.53 million. Concurrently, bitcoin miner revenue decreased by 10.5% to $851.36 million, influenced by market volatility and external economic factors.
Next news:JUST IN: 🇶🇦 Qatar officially introduces regulatory framework for digital assets. https://t.co/Kz0aUzbzW0

Next news:Foresight News reported that Nubit has released a letter to the community, unveiling a Minichain construction solution targeting consumer-level applications. This solution is an extension of the Nubit Data Availability (DA) scheme, introducing tools such as DeKit, Minichain-as-a-Service, Universal Bridge, and more to assist developers in focusing on product development without worrying about technical complexity.
Next news:Foresight News reports, according to Spot On Chain monitoring, a whale has deposited 14.95 million BLUR tokens into Binance, valued at approximately 2.18 million USD. If they sell all the tokens, they will incur a loss of about 3.54 million USD. Last November, this whale transferred most of the BLUR tokens (valued at about 5.72 million USD) from OKX for staking, with an average price of 0.383 USD per token.
Next news:Hearings resumed in Tigran Gambaryan’s money laundering trial on Monday, with the Binance executive entering the Abuja court in a very distressed state on crutches having been denied the use of a wheelchair, according to a family statement. The Binance executive has been held by Nigerian authorities for six months, with his physical and mental health deteriorating rapidly having suffered a herniated disc in his back and bouts of Pneumonia, Malaria and Tonsillitis. Lawyers for Gambaryan also claim that his detention conditions at Kuje prison have meant they have been unable to meet with him to prepare for trial. Gambaryan was in visible pain and broke down in court crying at one point, the family said. Gambaryan’s lawyers filed a new bail application for him on medical grounds, and the alleged block on access to their client. Economic and Financial Crimes Commission prosecutors opposed the application, reportedly claiming that the Binance executive was not unwell and had refused treatment in any case, the family claimed. That’s despite the prosecutors handing over part of his medical records recommending surgery as soon as possible, they added, alleging key parts of the record had also been removed. Gambaryan filed a lawsuit in March against Nigeria’s National Security Adviser and the EFCC for violating his basic human rights. He made a further plea to the judge on Monday, saying that he is not receiving proper medical care at the prison and is being denied access to his legal counsel and embassy representatives. The judge ordered Gambaryan to be allowed to use a wheelchair and will continue to hear the bail application when the trial continues on Wednesday. "My husband was unlawfully detained by the Nigerian government after being invited under false pretenses for a meeting in their country. During this prolonged imprisonment, his health continues to deteriorate, and now, he is in so much pain that he can barely walk. The U.S. Government must do more to help Tigran,” Gambaryan’s wife Yuki said in the statement. “I am also deeply concerned about recent statements from Nigerian authorities denying Tigran's health issues. The truth is that the prison has withheld his medical records for months, and even the partial records they finally released today say that Tigran needs surgery. This entire situation is inhumane and degrading, and I am fed up. There must be consequences for this disregard of law and human rights," she added. Nigeria's EFCC did not immediately respond to a request for comment from The Block. Gambaryan, a former Special Agent for the U.S. IRS and Binance’s Head of Financial Compliance, and Nadeem Anjarwalla, Binance’s Africa Regional Manager, were detained following their arrival in Nigeria’s capital city, Abuja, on Feb. 26, amid accusations of Binance making profits from illegal transactions locally. Criminal charges were filed against Binance and the two executives on Feb. 28 in a $35 million money laundering and tax violation indictment. The tax charges against the executives were later dropped in June, leaving Binance as the sole defendant, but the money laundering charges against all the defendants remain. Anjarwalla escaped from custody on March 22, though Gambaryan remained in detention. The Nigerian government previously called the allegations of Gambaryan’s poor healthcare "false," asserting that the Binance executive "has access to quality medical care whenever required" along with consular services from the United States. Last week, Binance urged the U.S. government to exert political pressure to secure the release of Gambaryan on humanitarian grounds.
Next news:Trading volume on centralized cryptocurrency exchanges increased in August, continuing the growth from July after a low in June. The total spot market volume reached $1.2 trillion in August, a 6.6% increase from July, with Binance leading at $448.45 billion. North American exchanges like Coinbase also saw a rise, with volumes reaching $166.84 billion, a 21.6% increase from July. Crypto.com dominated in North America with $95.77 billion in trading volume. The overall trend shows a recovery from the lows of June, with a peak in March at $2.48 trillion when bitcoin hit over $73,000. Bitcoin trading volume remains higher than ether, with a daily average of $10.27 billion compared to ether's $6.52 billion.
Next news: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.

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.