SoSo Daily Sep 8

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on September 7, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.00 trillion US dollars, witnessing an increase of 0.0681% compared to yesterday; the total trading volume is 52.65 billion US dollars, marking a decline of 57.2% from the previous day.

According to sosovalue, the price of $BTC is 54,153 USD, an increase of 0.352% from yesterday. The market cap of $BTC is 1.07 trillion USD, accounting for 53.5% of the total market cap; $BTC's 24-hour trading volume is 18.30 billion USD, making up 34.8% of the total trading volume.
The price of $ETH is 2,273.2 USD, up 2.16% from yesterday; the market cap of $ETH is 273.51 billion USD, representing 13.7% of the total market cap; $ETH's 24-hour trading volume is 10.66 billion USD, comprising 20.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 55.0% 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 BarnBridge (BOND). As of 23:55 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 Mines of Dalarnia (DAR). As of 23:55 today, its coin price is 0.17567 USD, with a 24-hour increase of 36.1%.
The third is Picasso (PICA). As of 23:55 today, its coin price is 0.00049400 USD, showing a 24-hour increase of 33.5%.
In fourth place is XEN Crypto (XEN). As of 23:55 today, its coin price is 0.00000010140 USD, with a 24-hour rise of 26.9%.
In fifth place is Witnet (WIT). As of 23:55 today, its coin price is 0.0038370 USD, increasing by 26.6% 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, 16 are up and 0 are down. Notably, NFT, GameFi, and Layer2 sectors are worth mentioning.
NFT sector has risen 3.84% relative to the UTC 0 time, led by gains in ese (18.9%), ape (14.9%), and nftx (13.1%).
GameFi sector has increased 2.9% relative to UTC 0, with dar (38.7%), tlm (12.5%), and voxel (12.4%) leading the rise.
Layer2 sector has risen 2.62%, with pcx (14.8%), SAGA (7.58%), and STRK (6.73%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to SoSoValue, as of September 6th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $169.97M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $52.87M, bringing GBTC's total historical net outflow to $20.01B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 5.50M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $333.97M.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $48.24B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.62%. The historical cumulative net inflow has reached $16.89B.

Source: https://sosovalue.com/assets/etf

Next news:According to Cointelegraph, asset management company WisdomTree has applied to the U.S. Securities and Exchange Commission (SEC) to withdraw its Ethereum Trust S-1 registration statement. The application was initially submitted in May 2021. WisdomTree confirmed that it will not issue or sell securities related to the registration statement and requested that the fees already paid be used for future purposes.
Next news:Wu learned that, according to Lookonchain monitoring, a whale address sold 100 $BTC (approximately $5.35 million) when the Bitcoin price dropped to its cost price, making a profit of $206,000. Other addresses with cost prices in this range may also engage in breakeven operations. According to IntoTheBlock data, a total of 836,000 addresses bought a total of 40.28 thousand $BTC in the range of $51,113 to $54,303, with a total value of $21 billion.
Next news:Wu learned that, according to Lookonchain monitoring, Galaxy Digital deposited 1,458 $BTC (approximately 78.50 million USD) into Coinbase Prime 8 hours ago.
Next news:Odaily Planet Daily News Grass Foundation stated in a post on X that they are fine-tuning the detection system to reduce false positives, which means that the token amount displayed on the airdrop check page is not the final result.
Next news:Wu learned that the Ethereum NFT project CyberKongz has released a final statement on the decentralization of Rune 2 DECENTRALIZED. The team will withdraw completely, stating that they have sent Rune 2 to Satoshi's wallet. The team mentioned that over 1 million US dollars were spent on carving Rune 2 without expecting any returns. According to Magic Eden data, DECENTRALIZED has dropped by 25% in the past 24 hours.
Next news:El Salvador marks three years of Bitcoin adoption with a profit of over $31 million, despite initial widespread criticism.
Next news:

According to market data, influenced by Elon Musk's release of AI-generated personal portrait for "Black Myth: Wukong", the ETH-based meme coin WUKONG surged over 9500% in the past 4 hours, now trading at $0.0026608, with a market cap of $2.70 million and a 24-hour trading volume of $4 million.

This meme coin previously reached a high of $0.000825 on August 27th before plummeting and almost hitting rock bottom for a long period.

TechFlow reminds: This news is for information sharing purposes only and does not constitute any investment advice. Please invest cautiously.

Next news:Kalshi Cleared to Offer Congressional Prediction Markets in Victory Against CFTC
Next news:Wu learned that, according to Whale Alert monitoring, the USDC Treasury minted 50 million USDC on the Ethereum network around 19:55 Beijing time, and it has been transferred to Coinbase.

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.