SoSo Daily Sept. 19 | The Federal Reserve announced its interest rate decision, cutting rates by 50 basis points.

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on September 19, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.24 trillion US dollars, witnessing an increase of 1.84% compared to yesterday; the total trading volume is 124.97 billion US dollars, marking an increase of 33.5% from the previous day.

According to sosovalue, the price of $BTC is 61,990 USD, an increase of 2.9% from yesterday. The market cap of $BTC is 1.22 trillion USD, accounting for 54.8% of the total market cap; $BTC's 24-hour trading volume is 41.52 billion USD, making up 33.2% of the total trading volume.
The price of $ETH is 2,412 USD, up 3.91% from yesterday; the market cap of $ETH is 290.27 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 20.04 billion USD, comprising 16% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 49.2% 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 Yield App (YLD). As of today, its market cap is 1.35M, with a coin price of 0.0050800 USD, witnessing a 24-hour increase of 110%.
The second is Polkadex (PDEX). As of today, its coin price is 0.24540 USD, with a 24-hour increase of 72.6%.
The third is BarnBridge (BOND). As of today, its coin price is 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is SuiPad (SUIP). As of today, its coin price is 0.063040 USD, with a 24-hour rise of 41.3%.
In fifth place is mfercoin (MFER). As of today, its coin price is 0.012600 USD, increasing by 36.2% 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, Layer2, and DePIN sectors are worth mentioning.
AI sector has risen 10.3% relative to the UTC 0 time, led by gains in moov (20.3%), tao (16.7%), and paal (13.5%).
Layer2 sector has increased 6.4% relative to UTC 0, with TAIKO (36.2%), SAGA (25.5%), and DYM (18.6%) leading the rise.
DePIN sector has risen 6.02%, with blz (21%), IO (13.1%), and aleph (11.4%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Foresight News reports that the Federal Reserve has announced the US Federal Reserve interest rate decision (upper limit) value at 5% until September 18, indicating a 50 basis point rate cut.
Next news:The U.S. Securities and Exchange Commission (SEC) has settled charges against DeFi platform Rari Capital, Inc. and its co-founders for misleading investors and engaging in unregistered broker activities. The SEC's investigation revealed that Rari Capital misrepresented the autonomous nature of its Earn and Fuse pools, which were manually rebalanced rather than being automated as claimed. Additionally, the firm was involved in unregistered broker activities, with over $1 billion in assets locked in its pools. The SEC continues to enforce regulations on crypto firms, emphasizing the need for transparency and adherence to securities laws.
Next news:Donald Trump, the Republican presidential candidate, made his first bitcoin purchase by buying a cheeseburger at PubKey Bar in New York City. This event occurred before a campaign rally at Nassau Coliseum in Long Island. Trump described the transaction as 'history in the making' and even distributed burgers to other patrons at the bar. PubKey Bar, a bitcoin-themed venue, is known for hosting crypto-related events. Trump's engagement with cryptocurrency has increased this year, as his campaign began accepting crypto donations and he expressed a desire to make the U.S. the 'crypto capital' of the world.
Next news:The U.S. Federal Reserve cut interest rates by 50 basis points, leading to a spike in Bitcoin prices. The rate was reduced to a range of 4.75% to 5.00%. The Fed's decision aligns with its objectives of managing inflation and employment rates, which are showing signs of balance. The central bank remains open to further adjustments based on economic data and risks. Analysts from QCP Capital predict significant market impacts and advise focusing on long-term investment strategies to capitalize on potential Bitcoin price increases.
Next news:

According to SoSoValue, as of September 18th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $52.83M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $8.13M, bringing GBTC's total historical net outflow to $20.07B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 2.66M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $385.25M.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $54.85B, 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 $17.44B.

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

Next news:Wu learned that Ethena Labs tweeted in the early morning, stating that their domain registrar account was recently compromised, leading to the temporary suspension of their frontend. Ethena Labs has now regained control of the domain and collaborated with multiple parties to block phishing websites. The only official valid domain is ethena[.]fi, and the team will relaunch the frontend website after completing further investigations.
Next news:Solana Mobile, a subsidiary of Solana Labs, has unveiled its new crypto smartphone, the Solana Seeker, at the TOKEN2049 event in Singapore. This device, previously known as 'Chapter Two' during its stealth phase, has already achieved over 140,000 presales in 57 countries. The Seeker, developed in collaboration with Fxtec, is set to ship in mid-2025. It features a Seed Vault Wallet, a new version of the Solana dApp Store, and the Seeker Genesis Token, a unique NFT for exclusive ecosystem rewards. The device is priced at $450 during the Solana Breakpoint conference, after which it will increase to $500.
Next news:According to data from SoSoValue, Wu learned that yesterday (September 18th, US Eastern Time), the total net outflow of Ethereum spot ETF was 9.74 million US dollars. The Grayscale Ethereum Trust ETF ETHE had a net outflow of 14.66 million US dollars yesterday, with a historical net outflow of 2.77 billion US dollars. The Ethereum spot ETF with the highest net inflow yesterday was BlackRock's ETF ETHA, with a net inflow of 4.92 million US dollars, and the total historical net inflow of ETHA has reached 1.04 billion US dollars.
Next news:According to Financefeeds, Silvergate Capital, the parent company of crypto-friendly bank Silvergate, has filed for Chapter 11 bankruptcy protection in the state of Delaware, USA. The bankruptcy filing indicates that the company's assets are between 100 million and 500 million US dollars, while liabilities range from 10 million to 50 million US dollars. In March 2023, Silvergate Capital announced the voluntary liquidation of its subsidiary Silvergate Bank, citing challenges in the banking industry due to rising interest rates and regulatory scrutiny following the bankruptcy of the crypto exchange FTX in November 2022. In July of this year, Silvergate Capital reached a settlement with the US SEC, the Federal Reserve, and the Department of Financial Protection and Innovation (DFPI) in California, agreeing to pay 63 million US dollars.
Next news:According to Coinglass data, in the past 4 hours, the total liquidation across the entire network was $18.25 million, with long positions liquidated at $16.18 million and short positions liquidated at $2.08 million.

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.