Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on September 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.11 trillion US dollars, witnessing a decrease of 4.02% compared to yesterday; the total trading volume is 67.04 billion US dollars, marking a decline of 6.68% from the previous day.
According to sosovalue, the price of $BTC is 57,480 USD, a decrease of 2.79% from yesterday. The market cap of $BTC is 1.14 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 25.05 billion USD, making up 37.4% of the total trading volume.
The price of $ETH is 2,424.8 USD, down 4.46% from yesterday; the market cap of $ETH is 291.73 billion USD, representing 13.8% of the total market cap; $ETH's 24-hour trading volume is 10.27 billion USD, comprising 15.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 52.7% 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 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is UXLINK. As of 23:55 today, its market cap is 37.86M, with a coin price of 0.22270 USD, witnessing a 24-hour increase of 45.7%.
The second is BarnBridge. As of 23:55 today, its coin price is 2.1520 USD, with a 24-hour increase of 44.4%.
The third is CANTO. As of 23:55 today, its coin price is 0.015245 USD, showing a 24-hour increase of 40.7%.
In fourth place is Galaxia. As of 23:55 today, its coin price is 0.0015992 USD, with a 24-hour rise of 30.4%.
In fifth place is Kava Lend. As of 23:55 today, its coin price is 0.15960 USD, increasing by 23.1% over the last 24 hours.
Sector Performance in the Crypto Market
According to sosovalue, out of 16 sectors, all are down today. Notably, SocialFi, NFT, and AI sectors are worth mentioning.
SocialFi sector has fallen -5.78% relative to the UTC 0 time, led by declines in RFR (-21%), BBL (-11%), and MASK (-8.65%).
NFT sector has decreased -5.94% relative to UTC 0, with FINE (-24.8%), TALK (-17.3%), and RARE (-11.3%) leading the drop.
AI sector has fallen -7.6%, with TAO (-11.6%), MOOV (-11%), and ALI (-9.51%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The U.S. Securities and Exchange Commission (SEC) has charged and settled with Galois Capital, a crypto-focused investment advisory firm, over issues related to the custody of client assets. The charges were specifically linked to a private fund primarily investing in cryptocurrencies. The SEC highlighted that Galois Capital's failure to adhere to Custody Rule provisions exposed investors to potential risks of asset loss, misuse, or misappropriation. Corey Schuster, co-chief of the SEC Enforcement Division’s Asset Management Unit, emphasized the importance of compliance to protect investors.
Next news:Foresight News: According to Arkham monitoring, Grayscale transferred approximately 2,044 $BTC to Coinbase Prime 14 minutes ago and 5,919 $ETH to Coinbase Prime 2 minutes ago.
Next news:The hacking entity responsible for the WazirX exploit appears to have transferred 2,600 $ETH ($6.5 million) to the U.S.-sanctioned cryptocurrency mixer Tornado Cash to launder the stolen funds, security firm PeckShield noted. Sending funds to a mixer is a common tactic cybercriminals use to make it harder for law enforcement to track and recover stolen crypto. On July 18, 2024, cryptocurrency exchange WazirX reported a major cyber attack targeting its multi-signature wallet, resulting in a loss exceeding $230 million. The exchange stated that this incident has impacted WazirX’s ability to maintain balanced collaterals against its assets. Withdrawals remain frozen, and trading has been paused since July 21 as the team focuses on partial recovery, with losses expected to be socialized among users. According to reports, the restructuring efforts may result in users not receiving the total value of their cryptocurrency held on the platform during the attack. This attack is believed to be the work of the North Korean Lazarus Group, a notorious state-sponsored hacking organization known for executing high-profile exploits, including a $600 million hack on the Ronin sidechain in 2022.
Next news:During the Korea Blockchain Week 2024 in Seoul, SEC Commissioner Mark T. Uyeda advocated for the creation of specialized S-1 registration forms for digital asset securities. He highlighted the need for tailored registration requirements to accommodate the unique aspects of digital assets, which are often treated as securities. Uyeda criticized the current one-size-fits-all approach and expressed frustration over the lack of progress in adapting regulations to better suit digital asset securities. The discussion also touched on the broader regulatory landscape, including the challenges of defining digital assets under existing securities laws.
Next news:Foresight News reports that according to BTC.com data, the hash rate of the Bitcoin network briefly exceeded 740 EH/s today, reaching 742.76 EH/s, setting a new all-time high. It has currently dropped to 669.69 EH/s.
Next news:Bitfarms reported generating 233 $BTC in August, despite a drop in earnings compared to July due to increased network difficulty. The company sold 147 $BTC and added 86 $BTC to its treasury, now holding 1,103 BTC. Bitfarms also announced a $175 million acquisition of Stronghold Digital to expand its U.S. capacity. Meanwhile, Riot Platforms, which attempted to acquire Bitfarms earlier and now holds a 19.9% stake, criticized Bitfarms' governance and proposed further board changes ahead of a special meeting. Riot's concerns include the timing of the Stronghold acquisition and the appointment of new directors without consultation.
Next news:QCP Capital predicts a potential bitcoin rally in October following a near-term price dip, citing historical data that shows October as a strong month for bitcoin with an average gain of 22.9%. Analysts suggest that September's seasonal price dips across various asset classes, including cryptocurrencies, present a strategic buying opportunity. The report also notes significant activity in the derivatives market, with substantial purchases of call options for December. The current price of bitcoin has risen by 1.2% in the last 24 hours, reaching $59,136.
Next news:Hypernative, a web3 security firm, has successfully raised $16 million in a Series A funding round led by Quantstamp. The round, which also saw participation from Bloccelerate VC, Boldstart Ventures, and others, brings Hypernative's total funding to $27 million. The company, which started in September 2022, offers a real-time risk monitoring platform that uses AI to detect potential security threats. With over 120 clients, including major names like Uniswap and Solana, Hypernative plans to expand its team and operations in the Asia Pacific region and the U.S.
Next news:Matter Labs, a German-based company known for developing the Ethereum Layer 2 protocol ZKsync, has reduced its workforce by 16%. CEO Alex Gluchowski cited changes in market environment and business needs, noting a shift in demand from ZKsync Era to ZK Chains. Despite ZKsync's previous high transaction rates, its active addresses have significantly decreased. The company, which was founded in 2018 and has raised $458 million, is re-evaluating its strategy and team composition in response to these shifts.
Next news:Bank of Japan Governor Hints at More Rate Hikes; $BTC Drops 0.4%
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.