SoSo Daily Sep 11

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on September 11, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.09 trillion US dollars, witnessing a decrease of 1.93% compared to yesterday; the total trading volume is 76.62 billion US dollars, marking a decline of 9.78% from the previous day.

According to sosovalue, the price of $BTC is 56,786 USD, a decrease of 0.772% 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 31.77 billion USD, making up 41.5% of the total trading volume.
The price of $ETH is 2,327.2 USD, down 1.01% from yesterday; the market cap of $ETH is 280.02 billion USD, representing 13.4% of the total market cap; $ETH's 24-hour trading volume is 13.11 billion USD, comprising 17.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 58.6% 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 (BOND). 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 Opulous (OPUL). As of 11:55 today, its coin price is 0.058360 USD, with a 24-hour increase of 26.9%.
The third is The Root Network (ROOT). As of 11:55 today, its coin price is 0.024123 USD, showing a 24-hour increase of 23%.
In fourth place is ThetaDrop (TDROP). As of 11:55 today, its coin price is 0.0027160 USD, with a 24-hour rise of 22.8%.
In fifth place is MultiVAC (MTV). As of 11:55 today, its coin price is 0.00068380 USD, increasing by 21.3% 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, 0 are up and 16 are down. Notably, Others, DePIN, and Meme sectors are worth mentioning.
Others sector has fallen -2.09% relative to the UTC 0 time, led by declines in wozx (-51.7%), dock (-31.8%), and GALAXIS (-17.8%).
DePIN sector has decreased -2.77% relative to UTC 0, with wsi (-10.8%), zcn (-8.89%), and ar (-6.74%) leading the drop.
Meme sector has fallen -3.26%, with tremp (-25.2%), gme (-12.5%), and mumu (-11.5%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Indonesian cryptocurrency exchange Indodax has reportedly suffered a significant security breach, resulting in approximately $15.7 million in losses due to exploits. Security firm PeckShield first reported the incident, noting large outflows of cryptocurrency from Indodax's wallets. Cyvers Alerts also detected suspicious transactions involving Indodax’s wallets across various networks. In response, Indodax has initiated a complete maintenance shutdown to address the security issues, during which its web platform and application are temporarily inaccessible. Despite these events, Indodax assures that all client funds are secure.
Next news:Former Alameda CEO Caroline Ellison is set to be sentenced on September 24 in New York, following her guilty plea in December 2022 after the collapse of the cryptocurrency exchange FTX. Ellison faces charges including wire fraud and money laundering, with potential penalties up to 110 years, although her sentence may be reduced due to her cooperation with prosecutors. Other FTX executives, Gary Wang and Nishad Singh, also face sentencing later this year. Sam Bankman-Fried, former CEO of FTX, was sentenced to nearly 25 years in prison earlier. Additionally, Ellison's legal team has requested redactions in court documents to protect her privacy and safety.
Next news:Paypal and Venmo have integrated the Ethereum Name Service (ENS) into their payments platforms, allowing users to use ENS names for crypto transactions. This integration aims to simplify transactions and reduce errors by automatically identifying linked wallet addresses. Initially available to U.S. users, the feature enhances user experience by eliminating the need to manually enter wallet details. ENS Labs highlights the benefits for both new and existing crypto users on familiar platforms like Paypal and Venmo.
Next news:tZERO Group Inc. has received approval from U.S. regulators to become a special purpose broker-dealer for digital asset securities custody, making it the second firm to obtain such a license. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) granted the approval. tZERO aims to leverage this opportunity to promote regulatory clarity and innovation in the digital asset industry. The approval follows a similar one granted to Prometheum, another digital asset firm, by the SEC and FINRA. The crypto industry has faced challenges with the SEC regarding the regulation of digital assets, with major exchanges like Coinbase, Binance, and Kraken facing charges for operating without proper registration.
Next news:Uncertainty surrounding the upcoming debate between Donald Trump and Kamala Harris is impacting U.S. equities and the cryptocurrency market, according to QCP Capital analysts. The cryptocurrency market cap saw a modest gain, but major tokens like bitcoin and ether are down for the week. U.S. stocks fluctuated in early trading, with the S&P 500 and Dow Jones experiencing losses. The correlation between cryptocurrencies and global stocks is at a near two-year high. Analysts observed significant activity in the derivatives market, anticipating volatility from the debate. They noted that Harris' economic policies might influence market movements more than Trump's. QCP Capital maintains a bullish outlook for the fourth quarter, advising investors to focus on stable returns and potential market gains.
Next news:State Street Global Advisors and Galaxy Digital have launched three new crypto ETFs, DECO, HECO, and TEKX, offering diversified exposure to blockchain and cryptocurrency markets. These ETFs, which began trading recently, include strategies like futures and options to manage volatility. The launch follows their July request to the U.S. SEC for permission, highlighting a shift towards more actively managed digital asset investments. This move aligns with broader trends in the financial industry, where investment advisors are increasingly adopting digital asset ETFs, as evidenced by significant inflows into such funds.
Next news:U.S. lawmakers are divided on how to regulate decentralized finance (DeFi), with ongoing discussions in the House Financial Services' digital assets-focused subcommittee. The recent legislation directed regulatory bodies to study DeFi but did not establish specific regulations. Meanwhile, the SEC and CFTC have begun to take actions against DeFi entities, such as Uniswap Labs. Rep. Stephen Lynch criticized the lack of consensus on DeFi regulation and called for more legislative attention. Additionally, Rep. Maxine Waters criticized a new DeFi project backed by Donald Trump's sons, highlighting the risks associated with DeFi, including potential scams and conflicts of interest.
Next news:

According to SoSoValue, as of September 10th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $116.96M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00 , bringing GBTC's total historical net outflow to $20.04B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 41.13M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $375.10M.

The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $63.16M, with FBTC's total historical net inflow reaching $9.52B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $52.20B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.59%. The historical cumulative net inflow has reached $17.04B.

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

Next news:Following the presidential debate, Kamala Harris' odds of winning the upcoming November election on Polymarket rose, tying with Donald Trump. The debate covered topics like the war in Gaza and abortion rights but omitted crypto discussions. Harris' winning odds increased from 46% to 49%, while Trump's decreased from 52% to 49%. The crypto market, including Bitcoin, showed minimal reaction to the debate, with Bitcoin prices fluctuating slightly. PolitiFi coins inspired by Trump and Harris also experienced price movements during the debate.
Next news:According to SoSoValue data, Wu learned that the total net inflow of the US Ethereum spot ETF yesterday (September 10th, US Eastern Time) was 11.44 million US dollars, marking the first net inflow after 5 days of net outflows. The Grayscale Ethereum Trust ETF ETHE had a net outflow of 0.00 US dollars yesterday. The Grayscale Ethereum Mini Trust ETF $ETH also had a net outflow of 0.00 US dollars. The Ethereum spot ETF with the highest net inflow yesterday was the Fidelity ETF FETH, with a daily net inflow of 7.13 million US dollars, followed by the BlackRock ETF ETHA with a daily net inflow of 4.31 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.