SoSo Daily Sep 12

Let's turn our attention to today's overall Crypto market situation.
As of 12 PM Hong Kong time on September 12, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.13 trillion US dollars, witnessing an increase of 1.16% compared to yesterday; the total trading volume is 85.43 billion US dollars, marking an increase of 11.5% from the previous day.

According to sosovalue, the price of $BTC is 58,052 USD, an increase of 2.18% from yesterday. The market cap of $BTC is 1.15 trillion USD, accounting for 53.9% of the total market cap; $BTC's 24-hour trading volume is 36.74 billion USD, making up 43% of the total trading volume.
The price of $ETH is 2,348.3 USD, up 0.903% from yesterday; the market cap of $ETH is 282.57 billion USD, representing 13.3% of the total market cap; $ETH's 24-hour trading volume is 14.57 billion USD, comprising 17.1% 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 60.1% 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 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 UXLINK. As of 11:55 today, its coin price is 0.29960 USD, with a 24-hour increase of 30.1%.
The third is Moonwell (WELL). As of 11:55 today, its coin price is 0.025300 USD, showing a 24-hour increase of 27.5%.
In fourth place is SuiPad (SUIP). As of 11:55 today, its coin price is 0.034410 USD, with a 24-hour rise of 26.9%.
In fifth place is Nimiq (NIM). As of 11:55 today, its coin price is 0.0013126 USD, increasing by 25.5% 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, 15 are up and 1 is down. Notably, CeFi, RWA, and AI sectors are worth mentioning.
CeFi sector has risen 4.95% relative to the UTC 0 time, led by gains in ox (23.9%), shx (9.15%), and wxt (7.58%).
RWA sector has increased 4.25% relative to UTC 0, with cpool (18.2%), pendle (11.9%), and cfg (9.98%) leading the rise.
AI sector has risen 4.22%, with rjv (7.66%), fet (7.48%), and pre (6.61%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Odaily Planet Daily News: Neil Birrell, Chief Investment Officer of Premier Miton Investors, commented on the US CPI report, stating that the possibility of the Fed cutting interest rates by 50 basis points next week "has been significantly undermined by this figure, but this is not enough to prevent the Fed from cutting interest rates." David Kelly, Chief Global Market Strategist at J.P. Morgan Asset Management, stated that the core CPI data for July was slightly higher than market expectations, but today's data is more of a "noise rather than news." He added that inflation has dropped to "room temperature," implying that there is no "significant" inflation issue. "Overall, in my view, inflation is well controlled. It appears that we have not seen signs of deflation," Kelly said. Peter Cardillo, Chief Market Economist at Spartan Capital Securities, stated that the CPI report essentially confirms the presence of sticky core inflation, which may mean that the Fed will cut interest rates by 25 basis points. The overall inflation rate is actually very low, especially on a year-on-year basis, and is moving in the right direction towards the Fed's 2% target. It is currently unclear whether this is a temporary phenomenon, but this report shows that core inflation remains an issue, which may prompt the Fed to cut interest rates by 25 basis points next week. (Jinshi Data APP) (Jinshi)
Next news:On September 11, 2024, Bitcoin's price fell below $56,500 during a risk-off trading day. This movement is part of the broader trends in the cryptocurrency markets, as detailed in CoinDesk's daily newsletter, First Mover, which provides context for the latest market actions.
Next news:The UK government is considering a new law to formally recognize crypto assets as a distinct form of property, according to a press release by Heidi Alexander MP, Minister of State at the Ministry of Justice. The proposed law aims to clarify the legal status of digital assets, which have previously been in a grey area under English and Welsh property law. The bill introduces a third category of property, alongside 'things in possession' and 'things in action', to accommodate digital assets with personal property rights. This move is part of Britain's strategy to maintain a leading position in the global crypto market and attract more business and investment, contributing £34 billion annually to the UK economy. The initiative responds to a 2023 Law Commission report which suggested that digital assets should be treated as property, despite not fitting traditional property categories.
Next news:According to SoSoValue data, as of yesterday (September 11, Eastern Time), the total net outflow of Ethereum spot ETF was 542.90 thousand US dollars. The Ethereum spot ETF with the highest net inflow yesterday was the Fidelity ETF FETH, with a net inflow of 1.17 million US dollars. As of the time of publication, the net asset value of the Ethereum spot ETF was 6.42 billion US dollars, and the ETF net asset ratio (market value as a percentage of Ethereum's total market value) reached 2.27%. The historical cumulative net outflow has reached 563 million US dollars.
Next news:Foresight News: According to the Bitget market data, Bitcoin has risen above 58,000 USDT, currently trading at 58,326.20 USDT, with a daily increase of 1.81%.
Next news:Wu learned that according to Paishield monitoring, the Vitalik-related Gnosis Safe Proxy address has deposited 950 $ETH (valued at approximately 2.24 million US dollars) and 2.28 million USDC into Aave. The multi-signature address: 0xfE…03B2 is a 2/3 multisig, with signers being vitalik.eth, a multisig address owned by Vitalik: 0x22…3A9D, and an address that receives gas fees from Vitalik.eth: 0xcC…D2A2.
Next news:

According to SoSoValue, as of September 11th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $43.97M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $4.59M, bringing GBTC's total historical net outflow to $20.04B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 511.23K，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $374.59M.

The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $12.57M, with FBTC's total historical net inflow reaching $9.53B.

Following that, Invesco and Galaxy Digital's ETF BTCO had a daily net inflow of $2.59M, with BTCO's total historical net inflow reaching $347.54M.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $51.96B, 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 $17.00B.

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

Next news:

Foresight News reports that according to Cointelegraph, Republican members of the U.S. House of Representatives are investigating Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC). Three Republican legislators have raised questions about the SEC's hiring process, alleging that the agency may be recruiting based on political affiliation, potentially violating federal laws, and demanding transparency in its recruitment decisions. During Gensler's tenure as SEC chairman, enforcement actions have significantly increased, with enforcement actions against cryptocurrency companies in 2023 reaching the highest point in a decade, doubling from 2021.

Next news:According to Wu, as reported by Forbes, Flowcarbon, a climate technology startup co-founded by former WeWork CEO Adam Neumann, is quietly returning investors' funds. The company's previously highly anticipated 'Goddess Nature Token' (GNT) project has failed. In May 2022, Flowcarbon announced the completion of a $70 million financing, with at least $38 million from token sales. Prominent investment firms such as a16z, General Catalyst, and Samsung NEXT were involved. However, GNT has yet to be issued, and the company has recently started refunding investors.
Next news:Wu learned that Vitalik Buterin, co-founder of Ethereum, tweeted that starting from next year, he plans to only publicly mention (in blogs, speeches, etc.) L2 projects in phase 1+, and may give a brief grace period to some truly interesting new projects. Vitalik stated: 'Whether I have invested or whether you are my friend, only phase 1 or above will be considered. Multiple ZK-rollup teams have told me that they expect to reach phase 1 by the end of the year. I am very excited about this. Of course, it is irresponsible to give up training rounds easily before we are truly confident in the security of the proof system. However, phase 1 (75% of the council needs to cover the proof system, with 26%+ council members from outside the rollup team) is a very reasonable and moderate milestone. The multisig wallet I have been in has not had a liquidity failure for many years, let alone a 26% failure rate. The era of rollups as glorified multisig wallets is coming to an end. The era of crypto trust is coming.'

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.