SoSo Daily Nov 2 | BTC spot ETF total net outflow was $54.94M yesterday, the first shift after 7 days of consistent inflow.
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM UTC0 time on November 2, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.44 trillion US dollars, witnessing a decrease of 1.4% compared to yesterday; the total trading volume is 110.80 billion US dollars, marking a decline of 8.17% from the previous day.
According to sosovalue, the price of $BTC is 69,684 USD, an increase of 0.117% from yesterday. The market cap of $BTC is 1.38 trillion USD, accounting for 56.4% of the total market cap; $BTC's 24-hour trading volume is 47.52 billion USD, making up 42.9% of the total trading volume.
The price of $ETH is 2,512 USD, up 0.00478% from yesterday; the market cap of $ETH is 302.47 billion USD, representing 12.4% of the total market cap; $ETH's 24-hour trading volume is 17.64 billion USD, comprising 15.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 58.8% 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 05:50 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is KAP Games. As of 05:50 today, its market cap is 4.43M, with a coin price of 0.034850 USD, witnessing a 24-hour increase of 59.2%.
The second is SuperRare. As of 05:50 today, its market cap is 103.06M, with a coin price of 0.14450 USD, witnessing a 24-hour increase of 45.8%.
The third is BarnBridge. As of 05:50 today, its market cap is 20.90M, with a coin price of 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is Grass. As of 05:50 today, its market cap is 402.66M, its coin price is 1.6509 USD, with a 24-hour rise of 35.7%.
In fifth place is Virtuals Protocol. As of 05:50 today, its market cap is 449.31M, its coin price is 0.44931 USD, increasing by 32.8% 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 15 sectors, 9 are up and 6 are down. Notably, the Layer2 sector is worth mentioning.
Layer2 sector has fallen -2.41% relative to the UTC 0 time, led by declines in IMX (-8.04%), OP (-6.12%), and TIA (-5.27%).
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:
According to SoSoValue, as of November 1th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $54.94M.
Yesterday, Grayscale's ETF GBTC had a net outflow of $5.51M, bringing GBTC's total historical net outflow to $20.16B.
Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 13.51M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $502.07M.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $69.64B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.08%. The historical cumulative net inflow has reached $24.15B.
Source: https://sosovalue.com/assets/etf
Next news:A New York judge ruled on Friday that the criminal trial of Tornado Cash co-founder Roman Storm will be postponed to April 2025 to resolve discrepancies regarding expert witness disclosures. The trial was originally scheduled for December of this year. Storm's legal team has filed a motion for a stay with the U.S. Second Circuit Court of Appeals to overturn the order concerning expert witnesses, with a hearing set for November 12. Storm faces three charges, including alleged money laundering, unlicensed money transmission, and violations of sanctions, which could result in a maximum sentence of 45 years in prison if convicted. (CoinDesk)
Next news:The US government is negotiating for the return of up to $13.25 million in political donations made by former FTX executives. The government requested more time to discuss the forfeitability of funds received by several political action committees (PACs) aligned with Democrats. The donations were made by former FTX executives Sam Bankman-Fried and Nishad Singh, who testified that he made the donations at Bankman-Fried's request. Several politicians and PACs have returned the donations following the collapse of FTX.
Next news:DWF Labs is considering legal action against former partner Eugene Ng over drink spiking allegations.
Next news:According to Wu, Arkham monitoring has reported that MicroStrategy transferred 1,652 $BTC to a new address: bc1q3p...6c4l6p at 6:10 UTC+8 today, valued at approximately $114.00 million; and also made a small transfer of 0.0024 $BTC to Coinbase Prime: 3J7cUj...ZrDSSU, valued at about $167. It is currently unclear who owns the new address: bc1q3p...6c4l6p, but based on transaction records from the past two days, it may be an internal consolidation by MicroStrategy.
Next news:Investment firm 21Shares is seeking SEC approval for a spot XRP exchange-traded fund (ETF) called the 21Shares Core XRP Trust. The fund will be listed on the Cboe BZX Exchange, with Coinbase Custody Trust Company as its custodian. Other firms, including Canary Capital and Bitwise, are also pursuing approval for a spot XRP ETF. However, if approved, it could face challenges due to the ongoing legal battle between the SEC and Ripple.
Next news:According to Bitcoin.com, the Internal Revenue Service (IRS) of the United States issued a memorandum in October stating that although users cannot access cryptocurrency rewards in frozen accounts, these rewards are still subject to taxation upon receipt. According to the regulation, even if a cryptocurrency platform freezes user accounts due to bankruptcy during the year, rewards received by users before the freeze must still be reported as income for that year based on the market value at the time.
Next news:Michael Saylor, the founder of MicroStrategy, announced 9 principles for $BTC that include purchasing and holding $BTC indefinitely, exclusively, and securely; prioritizing the long-term value creation of MSTR common stock; treating all investors with respect, consistency, and transparency; building MSTR with intelligent leverage to outperform $BTC; continuously purchasing $BTC while generating positive $BTC returns; growing rapidly and responsibly according to market dynamics; issuing innovative fixed-income securities backed by $BTC; maintaining a healthy, robust, and clean balance sheet; and promoting the global adoption of $BTC as a treasury reserve asset.
Next news:According to Wu Shuo, the Wall Street Journal reports that a French user who spent over 30 million dollars betting on Trump’s victory in a prediction market claims "there is no political purpose". The user stated, "My only goal is to make money". He identifies as a Frenchman who previously lived in the United States and worked as a trader in a bank. The user’s betting amount is approximately 38 million dollars. If this user’s expectation of a Trump landslide victory comes true, he could receive over 80 million dollars in return, more than double his investment. If Harris wins, the user could lose all or most of his funds, which he claims is the majority of his liquid assets.
Next news:JUST IN: Coinbase says the FDIC "advised" banks not to provide cryptocurrency services over 20 times.
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.