SoSo Daily Sep 13

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM Hong Kong time on September 13, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.19 trillion US dollars, witnessing an increase of 1.66% compared to yesterday; the total trading volume is 75.59 billion US dollars, marking a decline of 3.32% from the previous day.

According to sosovalue, the price of $BTC is 59,580 USD, an increase of 2.04% from yesterday. The market cap of $BTC is 1.18 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 26.29 billion USD, making up 34.8% of the total trading volume.
The price of $ETH is 2,410.5 USD, up 2.59% from yesterday; the market cap of $ETH is 290.06 billion USD, representing 13.3% of the total market cap; $ETH's 24-hour trading volume is 11.73 billion USD, comprising 15.5% 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 50.3% 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 17:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Nervos Network (CKB). As of 17:55 today, its market cap is 590.81M, with a coin price of 0.013150 USD, witnessing a 24-hour increase of 47.5%.
The second is BarnBridge (BOND). As of 17:55 today, its coin price is 2.1520 USD, with a 24-hour increase of 44.4%.
The third is SuiPad (SUIP). As of 17:55 today, its coin price is 0.045310 USD, showing a 24-hour increase of 35.7%.
In fourth place is Ruby Protocol (RUBY). As of 17:55 today, its coin price is 0.0014800 USD, with a 24-hour rise of 29.8%.
In fifth place is PolySwarm (NCT). As of 17:55 today, its coin price is 0.017150 USD, increasing by 29.6% 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, Meme, DeFi, and $ETH sectors are worth mentioning.
Meme sector has risen 4.24% relative to the UTC 0 time, led by gains in mumu (14.2%), michi (11.9%), and FOXY (10.9%).
DeFi sector has increased 3.07% relative to UTC 0, with bond (44.4%), SUIP (31.1%), and nom (26.5%) leading the rise.
$ETH sector has risen 2.59%, with $eth (2.59%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The English High Court has ruled that Tether's USDT stablecoin is legally recognized as property. This decision allows USDT to be subject to tracing and to be considered as trust property, similar to other forms of property.
Next news:MicroStrategy has purchased an additional 18,300 bitcoins for approximately $1.1 billion, increasing its total holdings to 244,800 BTC. The acquisition was made at an average price of $60,408 per bitcoin between August 6 and September 12, as per an SEC filing. The company's total bitcoin investment now stands at about $9.45 billion, with an average purchase price of $38,585 per bitcoin. This latest purchase was funded through the sale of 8,048,449 company shares, raising $1.11 billion. MicroStrategy's share price has seen a slight increase of 0.1% in pre-market trading, while bitcoin's current trading price is $57,800.
Next news:The likelihood of a 50 basis point rate cut by the Federal Reserve next week has increased to 45% following a decent jobs report and faster-than-expected inflation data. This shift in expectations suggests that the U.S. central bank might start its monetary easing cycle more aggressively than previously anticipated.
Next news:World Liberty, a new cryptocurrency project led by Donald Trump's family, is set to launch on September 16. The project, named World Liberty Finance, is managed by Trump's sons, Eric Trump and Donald Trump Jr. Barron Trump, aged 18, is involved as the project's 'DeFi visionary.'
Next news:

According to SoSoValue, as of September 12th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $39.02M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $6.51M, bringing GBTC's total historical net outflow to $20.05B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 5.18M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $379.77M.

The Bitcoin spot ETF with the highest net inflow for the day was Ark Invest and 21Shares's ETF ARKB, with a daily net inflow of $18.34M, with ARKB's total historical net inflow reaching $2.25B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $11.47M, with FBTC's total historical net inflow reaching $9.54B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $52.67B, 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 $17.03B.

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

Next news:The market value of tokenized real-world assets (excluding stablecoins) has surpassed $12 billion, according to a report by Binance Research. The growth in this sector is primarily driven by tokenized U.S. Treasuries.
Next news:Treasure DAO is set to vote on a proposal to migrate its Web3 gaming ecosystem from Arbitrum to ZKsync. The voting will start on September 17, with plans to launch the Treasure chain as an L2 on ZKsync's ZK Stack technology by mid-November if approved. This move comes after internal deliberations and aims to align with Treasure's goals in decentralized gaming. The proposal also reflects a shift from the previously planned Arbitrum Orbit. Key stakeholders, including Treasure co-founder Karel Vuong, support this transition, emphasizing ZKsync's alignment with their mission. Additionally, Treasure's native token MAGIC holders will decide on this migration, which affects over 10 games on the Treasure gaming console.
Next news:Wu learned that, according to Fox News reporter Eleanor Terrett, Republican Congressman John Rose from Tennessee is introducing a new bill named the “BRIDGE Digital Asset Act”. This bill aims to establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The purpose of this committee is to provide advice to both agencies on digital asset-related rules, regulations, and policies. The committee will consist of 20 private-sector participants representing various interests in the Crypto sector.
Next news:Wu learned that Binance announced the 59th Launchpool project as Catizen (CATI), a cat-themed game built on the Telegram mini-program platform. Binance will launch CATI on 2024-09-20 at 10:00 (UTC time) and open trading pairs for CATI/USDT, CATI/BNB, CATI/FDUSD, and CATI/TRY. Seed labels will be applied to CATI. Users will be able to stake their BNB and FDUSD to receive CATI airdrops within four days, starting from 2024-09-16 00:00 (UTC).
Next news:Crypto exchange Kraken has demanded a jury trial in the case brought against it by the U.S. Securities and Exchange Commission (SEC), a court filing Thursday showed.

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.