SoSo Daily Sep 4
Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on September 4, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.08 trillion US dollars, witnessing a decrease of 5.02% compared to yesterday; the total trading volume is 87.41 billion US dollars, marking an increase of 41.8% from the previous day.
According to sosovalue, the price of $BTC is 56,590 USD, a decrease of 4.2% from yesterday. The market cap of $BTC is 1.12 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 33.74 billion USD, making up 38.6% of the total trading volume.
The price of $ETH is 2,400.1 USD, down 4.36% from yesterday; the market cap of $ETH is 288.75 billion USD, representing 13.9% of the total market cap; $ETH's 24-hour trading volume is 15.52 billion USD, comprising 17.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 56.4% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is BarnBridge. As of 11:55 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 CANTO. As of 11:55 today, its coin price is 0.018679 USD, with a 24-hour increase of 40.2%.
The third is SERO. As of 11:55 today, its coin price is 0.018788 USD, showing a 24-hour increase of 22.9%.
In fourth place is Nest Protocol. As of 11:55 today, its coin price is 0.00078900 USD, with a 24-hour rise of 21.6%.
In fifth place is Neiro. As of 11:55 today, its coin price is 0.0025900 USD, increasing by 19.9% 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, AI, NFT, and SocialFi sectors are worth mentioning.
AI sector has fallen -6.63% relative to the UTC 0 time, led by declines in moov (-12%), tai (-11%), and MASA (-9.56%).
NFT sector has decreased -6.87% relative to UTC 0, with talk (-17.3%), rmrk (-12.7%), and super (-12.5%) leading the drop.
SocialFi sector has fallen -9.89%, with rfr (-23.6%), bbl (-17.7%), and 00 (-12.8%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:
According to SoSoValue, as of September 3th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $287.78M.
Yesterday, Grayscale's ETF GBTC had a net outflow of $50.40M, bringing GBTC's total historical net outflow to $19.90B.
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 $347.92M.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $52.69B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.58%. The historical cumulative net inflow has reached $17.31B.
Source: https://sosovalue.com/assets/etf
Next news: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 PeckShield monitoring, the Penpie attacker's tagged address has transferred 1000 $ETH (valued at approximately 2.44 million USD) to TornadoCash. Currently, about 1.01 million stolen $ETH (approximately 24.70 million USD) is still held at address 0x2f2d...1C39.
Next news:
Foresight News reported that according to Bitget market data, Bitcoin has dropped below 56000 USDT, currently trading at 55923.07 USDT, with a daily decline of 2.72%.
Next news:DeFi project Pendle claims to have safeguarded around $105 million in funds that could have been drained from Penpie following a hack on Tuesday on the independent Pendle ecosystem yield optimizer. In a post-mortem following the incident early Wednesday morning, Pendle said the funds were protected following a prompt pause in its contracts. However, the attacker still managed to exploit Penpie’s protocol for around $27.3 million, with various stolen assets exchanged for 11,109 $ETH, according to blockchain analytics provider Lookonchain. Blockchain security firm PeckShield said the root cause was introducing an “evil market” — a malicious contract used to inflate the staking balances on Penpie to claim unwarranted rewards. Pendle confirmed that the vulnerability was linked to a unique feature that allowed permissionless listing of Pendle markets on Penpie. It claimed its in-house monitoring system immediately detected the suspicious contract, which had been funded from Tornado Cash. However, it was not able to prevent the initial attack. Penpie’s PNP token fell more than 33% immediately following the incident, according to CoinGecko data, while Pendle’s native token is down around 9% over the past 24 hours, per The Block’s Pendle Price Page. Penpie, which remains paused, later said it was willing to negotiate with the hacker following the exploit. In exchange for their cooperation, it offered no legal action to be pursued, the attacker's identity would remain confidential, and they would receive a percentage of the funds as a bounty reward.
Next news:Polygon is set to begin the highly anticipated swap of POL tokens for MATIC. This migration will also introduce changes in tokenomics, including a new emission rate of 2%.
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:Matter Labs, the company behind ZKsync, has restructured to better align with the evolving needs of developers. As part of this restructuring, the company has laid off 16% of its workforce. The layoffs are a response to the changing demands for technology and support required by developers working on ZKsync.
Next news:Former Mt. Gox CEO Mark Karpeles is set to launch a new crypto exchange named EllipX in Europe, focusing on transparency and user-friendliness. The exchange, based in Poland, aims to be compliant with MiCA regulations and will feature a compartmentalized structure to enhance transparency. Karpeles, serving as the CTO, emphasizes the importance of transparency in the wake of the FTX collapse. EllipX will also introduce a user-friendly wallet and a non-profit organization, Ungox, to rate crypto projects and exchanges. Additionally, Mt. Gox NFT owners will receive trading fee discounts, and all former Mt. Gox customers from 2010 to 2014 will get a free NFT.
Next news:Brad Garlinghouse, CEO of Ripple, announced that the company is close to launching its U.S. dollar-pegged stablecoin, Ripple USD (RLUSD), during a fireside chat at Korea Blockchain Week in Seoul. The stablecoin, currently in a closed beta, is expected to launch in weeks. Garlinghouse also discussed the dominance of USDT and USDC in the stablecoin market, Ripple's recent legal victory against the SEC, and his views on the regulatory environment in the U.S., advising against incorporating crypto companies there. He expressed optimism about the future of crypto, citing potential legislative clarity from U.S. lawmakers rather than the SEC.
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.