Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on September 10, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.10 trillion US dollars, witnessing an increase of 2.13% compared to yesterday; the total trading volume is 85.66 billion US dollars, marking an increase of 36.3% from the previous day.
According to sosovalue, the price of $BTC is 56,936 USD, an increase of 4.15% from yesterday. The market cap of $BTC is 1.12 trillion USD, accounting for 53.7% of the total market cap; $BTC's 24-hour trading volume is 31.31 billion USD, making up 36.5% of the total trading volume.
The price of $ETH is 2,348.8 USD, up 2.63% from yesterday; the market cap of $ETH is 282.62 billion USD, representing 13.5% of the total market cap; $ETH's 24-hour trading volume is 15.08 billion USD, comprising 17.6% 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 54.1% 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 Sundog (SUNDOG). As of today, its coin price is 0.31524 USD, with a 24-hour increase of 27.5%.
The third is SERO. As of today, its coin price is 0.042928 USD, showing a 24-hour increase of 26.2%.
In fourth place is PepeFork (PORK). As of today, its coin price is 0.00000020780 USD, with a 24-hour rise of 24.2%.
In fifth place is Rocket Pool (RPL). As of today, its coin price is 11.610 USD, increasing by 24% 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, AI, Meme, and SocialFi sectors are worth mentioning.
AI sector has risen 7.47% relative to the UTC 0 time, led by gains in clore (13.6%), paal (12.7%), and fet (11.3%).
Meme sector has increased 6.59% relative to UTC 0, with PORK (24.9%), $BEER (18.3%), and people (18.2%) leading the rise.
SocialFi sector has risen 6.39%, with ton (7.24%), cyber (6.85%), and berry (5.62%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The FBI reported a 45% increase in losses related to cryptocurrency fraud in 2023 compared to the previous year, totaling $5.6 billion. Over 69,000 complaints were filed, with crypto-related issues accounting for 10% of all financial fraud complaints and half of the total losses. The most affected demographic was individuals over 60, followed by those in their 30s and 40s. Investment scams topped the list of reported crimes. The FBI highlighted the role of cryptocurrency's promotion and the 'fear of missing out' in facilitating these crimes. Additionally, the agency warned against the use of dating and messaging apps for scams, false job ads linked to labor trafficking, and the misuse of crypto kiosks for fraudulent activities.
Next news:Snapshot X launches to enable gas-free onchain voting via Starknet
Governance platform Snapshot X has launched today, introducing a new Layer 2-based protocol that enables onchain voting without the associated gas fees for decentralized autonomous organizations (DAOs). This feature, powered by Starknet’s roll-up technology, aims to streamline the voting process within blockchain projects by eliminating costs that have traditionally hindered participation. DAOs have traditionally faced a choice between fast, centrally controlled off-chain voting systems and onchain voting that, while adhering to blockchain’s core principles, was often expensive and inefficient. Snapshot X seeks to address these issues by offering a cost-effective, onchain solution. Jeremy Musighi, COO of Snapshot Labs, described Snapshot X as a turning point in on-chain governance. “For the first time, we’re making it possible for DAOs to provide free onchain voting to their communities, allowing for greater inclusivity and higher participation rates in decentralized decision-making,” Musighi stated. The protocol uses STARK scaling and storage proofs, a type of cryptographic verification, to facilitate secure and tamper-proof voting across different blockchains without transferring tokens or incurring gas fees. This approach enhances security and reduces the reliance on third-party intermediaries, making the voting process more cost-efficient. Storage proofs are cryptographic proofs verifying the possession of specific tokens or non-fungible tokens in a user's wallet at one particular time. They are used to calculate a user's voting power at the time a proposal is initiated without necessitating the bridging of tokens. This setup also leverages a transaction relayer. To bypass the need to manage a Starknet account, users sign their vote with their Ethereum wallet, and the vote is then relayed to the Starknet network through its transaction relayer, Mana. Snapshot X system’s modularity allows a special authenticator to verify the provided signature and count the vote. Snapshot X’s debut will be marked by a governance vote within the Starknet community on a new staking proposal, which is set to showcase its functionality and the broader potential for decentralized governance systems.
Next news:a16z Crypto announced the 21 startups to join Crypto Startup Accelerator (CSX) Fall 2024 cohort, including Anera Labs, Banyan, Blocksense, Cork Protocol, Fermah, Future Primitive, MeshMap, Term Labs, zkSpin and more. a16z CSX invests a minimum of $500,000 in each company that’s accepted.
Next news:Binance subsidiary Tokocrypto has been granted a full license as a Physical Crypto Asset Trader by Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti). This makes Tokocrypto the third crypto exchange to receive such a license in Indonesia.
Next news:Wu learned that Metaplanet, a listed company in Japan, announced that the company's management will exercise the 11th round of stock options. This exercise will raise 299.70 million yen (approximately 2.05 million US dollars), all of which will be used to purchase Bitcoin. The company stated that it had received the full amount of funds corresponding to the exercise price on the same day. It is expected to start sending exercise notices to shareholders and issuing shares to ordinary investors after September 18. This exercise involves 540 thousand stock options, with specific exercisers, quantities, and amounts undisclosed.
Next news:
According to SoSoValue, as of September 9th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $28.72M.
Yesterday, Grayscale's ETF GBTC had a net outflow of $22.76M, bringing GBTC's total historical net outflow to $20.04B.
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 $333.97M.
The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $28.60M, with FBTC's total historical net inflow reaching $9.45B.
Following that, Bitwise's ETF BITB had a daily net inflow of $21.99M, with BITB's total historical net inflow reaching $1.95B.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $51.31B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.56%. The historical cumulative net inflow has reached $16.92B.
Source: https://sosovalue.com/assets/etf
Next news:Foresight News: OKX will list Catizen (CATI) spot trading, with deposits opening at 21:00 today and withdrawals opening at 18:00 on September 21. CATI/USDT spot trading will commence at 19:00 on September 20.
Next news:According to data from SoSoValue, Ethereum spot ETF had a total net outflow of 5.20 million US dollars on September 9th (US Eastern Time) yesterday. Grayscale Ethereum Trust ETF ETHE had a single-day net outflow of 22.64 million US dollars yesterday, with a historical net outflow of 2.69 billion US dollars. Grayscale Ethereum Mini Trust ETF $ETH had a single-day net inflow of 7.97 million US dollars, with a total historical net inflow of 258 million US dollars. As of the time of publication, the total net asset value of the Ethereum spot ETF is 6.43 billion US dollars, with an ETF net asset ratio (market value as a percentage of total Ethereum market value) of 2.28%, and a total cumulative net outflow of 573 million US dollars.
Next news:Foresight News: AI infrastructure company PIN AI announced the completion of a $10 million Pre-Seed funding round, with participation from a16z CSX, Foresight Ventures, Hack VC, Nomad Capital, Symbolic Capital, Blockchain Builders Fund, and angel investors including NEAR Protocol founder Illia Polosukhin and Solana Foundation chairman Lily Liu.
Next news:This week, the crypto market is expected to experience significant volatility due to two major events: the presidential debate between Donald Trump and Kamala Harris, and the upcoming U.S. Consumer Price Index (CPI) reading before the Federal Reserve's rate decision on September 18. QCP Capital's report highlights that while the crypto market has stabilized, elevated implied volatilities suggest continued anticipation of market fluctuations. The outcome of the debate could heavily influence the market, as analysts predict substantial price movements for bitcoin depending on the election results. Additionally, the derivatives market shows a cautious stance with a skew towards put options in bitcoin and ether, indicating concerns about potential declines. Despite this, QCP Capital remains optimistic in the long term, noting significant purchases of long-term bullish options and a recent positive bounce in bitcoin's price.
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.