SoSo Daily Oct 16 | Italy Plans to Raise Capital Gains Tax on Bitcoin to 42%: Report
Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM UTC0 time on October 16, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.45 trillion US dollars, witnessing an increase of 1.07% compared to yesterday; the total trading volume is 141.10 billion US dollars, marking an increase of 24.6% from the previous day.
According to sosovalue, the price of $BTC is 67,992 USD, an increase of 3.96% from yesterday. The market cap of $BTC is 1.34 trillion USD, accounting for 54.9% of the total market cap; $BTC's 24-hour trading volume is 46.21 billion USD, making up 32.7% of the total trading volume.
The price of $ETH is 2,636 USD, up 1.92% from yesterday; the market cap of $ETH is 317.33 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 22.46 billion USD, comprising 15.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 48.6% 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 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Neon. As of 11:55 today, its market cap is 27.17M, with a coin price of 0.47093 USD, witnessing a 24-hour increase of 31.4%.
The second is Holograph Utility Token. As of 11:55 today, its market cap is 2.79M, with a coin price of 0.0018290 USD, witnessing a 24-hour increase of 31.4%.
The third is SONM. As of 11:55 today, its market cap is 86.49K, with a coin price of 0.0019480 USD, showing a 24-hour increase of 27.3%.
In fourth place is michi. As of 11:55 today, its market cap is 176.90M, its coin price is 0.31830 USD, with a 24-hour rise of 25.8%.
In fifth place is OccamFi. As of 11:55 today, its market cap is 2.06M, its coin price is 0.081360 USD, increasing by 23.4% 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, Meme, $BTC, and CeFi sectors are worth mentioning.
Meme sector has risen 6.13% relative to the UTC 0 time, led by gains in michi (23.7%), dog (22.6%), and tremp (18.8%).
$BTC sector has increased 3.84% relative to UTC 0, with $btc (3.84%) leading the rise.
CeFi sector has risen 2.11%, with ox (22.6%), qash (16.4%), and zig (7.66%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Italy plans to increase capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%, according to Vice Economy Minister Maurizio Leo. The tax increase is part of measures approved by the Council of Ministers to generate resources for supporting families, youth, and businesses. Italy also plans to crack down on cash usage to combat tax evasion.
Next news:
According to SoSoValue, as of October 15th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $371.02M.
Yesterday, Grayscale's ETF GBTC had a net inflow of $7.99M, bringing GBTC's total historical net outflow to $20.14B.
Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 13.36M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $419.18M.
The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $288.84M, with IBIT's total historical net inflow reaching $22.07B.
Following that, Fidelity's ETF FBTC had a daily net inflow of $35.03M, with FBTC's total historical net inflow reaching $10.26B.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $63.13B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.8%. The historical cumulative net inflow has reached $19.73B.
Source: https://sosovalue.com/assets/etf
Next news:Grayscale Investments has filed a request with the SEC to convert its mixed-crypto fund into an ETF. The fund contains bitcoin, ether, Solana, XRP, and Avalanche. Grayscale has previously converted Bitcoin and Ethereum funds into ETFs. The Digital Large Cap Fund currently trades over the counter and has assets under management of $524 million. Grayscale's spot bitcoin ETF has an AUM of about $14 billion. Bitwise and Canary Capital have also filed for permission to list spot XRP ETFs.
Next news:Former U.S. President Donald Trump’s odds of winning the upcoming presidential election rose to a 16% lead over Democratic Party candidate Kamala Harris on Polymarket as of Tuesday night. According to the decentralized prediction market platform, the odds of Trump's winning stood at 57.9%, while Harris' chances were at 41.8%. The bet on the 2024 election winner has accumulated over $1.92 billion in volume so far. On the other hand, the national poll aggregate from FiveThirtyEight shows that Harris leads the race by an average of 48.5% across traditional polls, against Trump’s 46.1%. Nevertheless, analysts at Bernstein noted that polls historically have underestimated Trump. In a note to clients, analysts at Bernstein also discussed whether Polymarket could be biased towards the Republican candidate, who has shown stronger support for cryptocurrencies. However, the analysts noted that users were more likely to bet real money on probability than actually reflecting their bias. Meanwhile, Trump announced Tuesday that World Liberty Financial, the DeFi protocol backed by the former president himself, sold over 610 million tokens in the public sale that started the same morning. His opponent Harris, who remained mostly silent on matters related to cryptocurrencies, recently said she would support a regulatory framework for crypto that protects Black men who invest and own crypto, as part of a newly released proposal to help build wealth for Black men.
Next news:Trump announces the launch of World Liberty Finance, with approximately 610 million WLFI tokens sold to date, generating sales exceeding 9 million dollars.
Next news:Arthur Hayes stated that due to risks such as geopolitical factors, he has reduced his holdings in meme tokens, with SCF being the only one he currently holds. He also mentioned that he has not stopped deploying funds into pre-sale token trades and is staking idle fiat currency on Ethena.
Next news:According to a new survey released by Francisco Gavidia University in El Salvador, only 7.5% of respondents reported using cryptocurrency for transactions, while 92% admitted they do not use it. Additionally, only 1.3% of respondents believe that Bitcoin should be the country's primary bet for the future. Meanwhile, 58% of respondents feel that the country's direction is correct, and President Bukele enjoys very high approval ratings. El Salvador adopted Bitcoin as legal tender in 2021. The law mandates that businesses must accept this cryptocurrency if they have the technical capacity to do so. (Decrypt)
Next news:The cryptocurrency derivatives exchange Bitnomial has announced the completion of a $25 million funding round, led by Ripple Labs, and the launch of its perpetual futures trading platform, Botanical. This platform will offer trading in perpetual futures, traditional futures, and options. The CEO of Bitnomial stated that the platform aims to provide a regulated and innovative trading experience, utilizing Ripple's RLUSD stablecoin for settling perpetual futures. Previously, Bitnomial sued the U.S. SEC, questioning its regulatory authority over XRP futures.
Next news:According to SoSoValue data, on October 15th (Eastern Time), there was a total net outflow of 12.70 million USD for Ethereum spot ETFs in the United States. The Grayscale Ethereum Trust ETF (ETHE) experienced a net outflow of 15.29 million USD in a single day. The Grayscale Ethereum Mini Trust ETF ($ETH) had a net outflow of 0.00 USD for the day. The Ethereum spot ETF with the highest net inflow yesterday was the Fidelity ETF (FETH), which saw a net inflow of 2.59 million USD.
Next news:According to Foresight News, HTX DAO has officially announced that it completed the destruction of HTX tokens for the third quarter of 2024 on October 15. In this quarter, HTX DAO destroyed a total of 15,811,683,954,403 HTX tokens, with a total value exceeding $21.25 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.