SoSo Daily Sept. 17 | MicroStrategy to Sell $700M in Convertible Notes for Debt Buyback and Bitcoin Acquisition

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on September 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.13 trillion US dollars, witnessing a decrease of 0.997% compared to yesterday; the total trading volume is 73.30 billion US dollars, marking an increase of 10.8% from the previous day.

According to sosovalue, the price of $BTC is 58,672 USD, an increase of 0.00418% from yesterday. The market cap of $BTC is 1.16 trillion USD, accounting for 54.5% of the total market cap; $BTC's 24-hour trading volume is 26.23 billion USD, making up 35.8% of the total trading volume.
The price of $ETH is 2,302.6 USD, up 0.407% from yesterday; the market cap of $ETH is 277.09 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 13.86 billion USD, comprising 18.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.7% 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, according to sosovalue, the top five gainers are:
Top 1 gainer is Fight to MAGA. As of today, its market cap is 9.49M, with a coin price of 0.0096380 USD, witnessing a 24-hour increase of 98.5%.
The second is Baby Doge Coin. As of today, its coin price is 0.0000000018250 USD, with a 24-hour increase of 74.8%.
The third is Elixir Games. As of today, its coin price is 0.022904 USD, showing a 24-hour increase of 53.7%.
In fourth place is BarnBridge. As of today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Slerf. As of today, its coin price is 0.16000 USD, increasing by 23% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:MicroStrategy plans to sell up to $700 million in convertible senior notes to fund additional bitcoin purchases and buy back debt. The offering, due in 2028, will be unsecured and pay interest semi-annually. The company aims to use the proceeds to redeem $500 million in senior secured notes and potentially buy more bitcoin. MicroStrategy's total debt is $3.90 billion, with significant investments in bitcoin, including a recent purchase worth over $1 billion.
Next news:

According to SoSoValue, as of September 16th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $12.90M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $20.75M, bringing GBTC's total historical net outflow to $20.06B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 2.82M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $382.59M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $15.82M, with IBIT's total historical net inflow reaching $20.92B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $5.06M, with FBTC's total historical net inflow reaching $9.65B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $52.57B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.61%. The historical cumulative net inflow has reached $17.31B.

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

Next news:According to SoSoValue data, Wu learned that yesterday (September 16th, US Eastern Time), the total net outflow of Ethereum spot ETF was 9.51 million US dollars. The Grayscale Ethereum Trust ETF ETHE had a net outflow of 13.83 million US dollars in a single day yesterday, with a total historical outflow of ETHE of 2.74 billion US dollars. The Grayscale Ethereum Mini Trust ETF $ETH had a net inflow of 2.29 million US dollars in a single day yesterday, with a total historical net inflow of $ETH in the Grayscale Ethereum Mini Trust of 260 million US dollars. The Ethereum spot ETF with the highest net inflow yesterday was BlackRock's ETF ETHA, with a net inflow of 4.16 million US dollars. Following that was the Grayscale ETF $ETH, with a net inflow of 2.29 million US dollars.
Next news:Donald Trump-backed World Liberty Financial debuts plans to sell WLFI token

Republican presidential candidate Donald Trump helped officially unveil World Liberty Financial, his highly-anticipated cryptocurrency project, on Monday night. Trump emphasized the future of crypto over traditional banking, noting his personal shift towards cryptocurrency influenced by his NFT projects. The WLFI token, a non-transferable governance token, will be sold primarily to accredited investors, with 63% of the tokens available to the public. The project, linked to Dough Finance and built on the Aave platform, aims to integrate DeFi benefits into mainstream finance, despite potential regulatory challenges highlighted by analysts.
Next news:Flyfish Club, LLC has agreed to pay $750,000 to settle with the U.S. Securities and Exchange Commission (SEC) over its unregistered offering of 1,600 NFTs, which raised $14.8 million. The NFTs were intended to fund the construction of an exclusive restaurant and bar in New York City. The SEC classified these NFTs as securities, leading to the settlement. Flyfish Club did not admit or deny the findings but agreed to destroy all NFTs it controls and refrain from accepting future royalties from NFT sales. The restaurant is set to open this month. The SEC has been active in pursuing cases against NFT projects, indicating a broader regulatory focus on crypto assets.
Next news:Bitcoin mining company Cathedra Bitcoin is ceasing its seven-year mining operations and shifting towards a new strategy: to purchase as much Bitcoin as possible on the open market, similar to MicroStrategy. Cathedra Bitcoin explained that under the new plan, all capital allocation decisions will now be based on maximizing the company's Bitcoin reserves per share, which is also the 'most important' metric many major shareholders are focusing on. (CoinDesk)
Next news:According to Decrypt, former U.S. President Donald Trump stated at a press conference for his World Liberty Financial crypto platform that if he fails to win the U.S. presidential election in November this year, American cryptocurrency builders currently under investigation by the U.S. Securities and Exchange Commission 'will be living in hell.' Trump said, 'If I don't win the election, those who are currently under investigation, who are now living freely, and those who are unnoticed in the cryptocurrency world, they will be living in hell.'
Next news:More than 40 financial firms will join central bank group the Bank for International Settlements to explore how tokenization can enhance wholesale cross-border payments in Project Agorá, the BIS said on Monday.
Next news:Bitcoin's value dropped to $58,000 as the Federal Reserve approaches a meeting with divided expectations on interest rate cuts. Market strategist Marc Chandler noted the unusual level of uncertainty, with predictions split between a 25bps and a 50bps cut.
Next news:Donald Trump recently headlined an event to unveil a new cryptocurrency platform called World Liberty Financial. Promoted by Trump and his sons, this platform is part of the decentralized finance sector and aims to enhance financial security and freedom of transactions. The announcement was made during an X Spaces livestream by Donald Trump Jr.

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.