As of 11:59 AM on December 2, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.53 trillion US dollars, witnessing a decrease of 2.77% compared to yesterday.

The total trading volume is 306.60 billion US dollars, marking an increase of 59.9% from the previous day.

According to sosovalue, the price of $BTC is 95,137 USD, a decrease of 2.03% from yesterday. The market cap of $BTC is 1.88 trillion USD, accounting for 53.3% of the total market cap; $BTC's 24-hour trading volume is 71.60 billion USD, making up 23.4% of the total trading volume.
The price of $ETH is 3,590.3 USD, down 2.77% from yesterday; the market cap of $ETH is 432.41 billion USD, representing 12.2% of the total market cap; $ETH's 24-hour trading volume is 38.87 billion USD, comprising 12.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 65.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 36.1% 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 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Grizzly Honey (GHNY). As of 11:50 today, its market cap is 449.73K, with a coin price of 0.32800 USD, witnessing a 24-hour increase of 198%.
The second is Unifi Protocol DAO (UNFI). As of 11:50 today, its coin price is 1.5306 USD, with a 24-hour increase of 194%.
The third is tomiNet (TOMI). As of 11:50 today, its coin price is 0.035860 USD, showing a 24-hour increase of 181%.
In fourth place is Hivemapper (HONEY). As of 11:50 today, its coin price is 0.12670 USD, with a 24-hour rise of 67.6%.
In fifth place is Voyager VGX (VGX). As of 11:50 today, its coin price is 0.014940 USD, increasing by 58.8% over the last 24 hours.

Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 1 is up and 15 are down. Notably, PayFi, GameFi, and AI sectors are worth mentioning.
PayFi sector has risen 15.9% relative to the UTC 0 time, led by gains in XVG (55.6%), CIRUS (49.4%), and KLV (35.7%).
GameFi sector has decreased 6.2% relative to UTC 0, with NEXG (-24.5%), CHAIN (-15.4%), and GAFI (-13.7%) leading the drop.
AI sector has fallen 8.04%, with SEKOIA (-32.4%), VADER (-28.7%), and FARTCOIN (-27.7%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Japanese cryptocurrency exchange DMM Bitcoin will cease operations after suffering losses of over 300 million USD due to a hacker attack in May. SBI Group's SBI VC Trade will acquire the assets of the exchange. According to a statement released on Monday, DMM Bitcoin has reached an agreement with SBI to transfer customer accounts and custodial assets to SBI by March 2025. Open positions in leveraged trading are not included in the transfer, and all such positions must be settled before the transfer. DMM Bitcoin plans to cease operations after the asset transfer is completed. SBI VC Trade plans to start processing spot trading for the 14 cryptocurrencies currently traded on DMM Bitcoin before the completion of the custodial asset transfer.
Next news:Ripple's XRP token has surged, surpassing Solana in market capitalization to become the fourth most valuable cryptocurrency. XRP's price rose over 11% in the past 24 hours, reaching $2.18, its highest since 2018. Its market cap is now nearly $121 billion, compared to Solana's $112.2 billion. XRP has outperformed the GMCI 30 index, which increased by 1.30% in the last day. The surge follows SEC Chair Gary Gensler's announcement of his departure, amid Ripple's ongoing legal battle with the SEC. Investors are also anticipating the launch of spot XRP ETFs, following approvals for Bitcoin and Ethereum ETFs.
Next news:MicroStrategy co-founder Michael Saylor advised Microsoft CEO Satya Nadella and the board to invest in Bitcoin, describing it as the best asset for the company. Saylor emphasized Bitcoin as a crucial technological wave and digital transformation of the 21st century. He suggested that Microsoft should buy and hold Bitcoin instead of repurchasing its own stock or holding bonds, to avoid risks and enhance shareholder value. Saylor claimed that converting Microsoft's cash flows and investments into Bitcoin could significantly increase its stock price and enterprise value by 2034. MicroStrategy, which began its Bitcoin reserve strategy in 2020, currently holds 386,700 $BTC, valued at over $37.7 billion. The company's stock has surged 465% this year due to its Bitcoin strategy.
Next news:

According to SoSoValue data, during the trading days of last week (Eastern Time from November 25 to November 29), Bitcoin spot ETFs experienced a net outflow of 138 million USD. Among them, the Grayscale ETF GBTC had a net outflow of 194 million USD. The Bitcoin spot ETF with the highest net inflow last week was BlackRock's ETF IBIT, with a weekly net inflow of 405 million USD. Following that was the Grayscale Bitcoin Trust $BTC, with a weekly net inflow of 25.89 million USD.

Next news:

According to Foresight News and SoSoValue data, during the last trading week (Eastern Time, from November 25 to November 29), the Ethereum spot ETFs saw a net inflow of 467 million USD. Among them, the Grayscale Ethereum Trust ETF (ETHE) experienced a net outflow of 27.75 million USD, with a historical net outflow of 3.37 billion USD for ETHE. The Ethereum spot ETF with the highest net inflow last week was the Blackrock Ethereum ETF (ETHA), which had a weekly net inflow of 300 million USD, bringing its historical total net inflow to 2.10 billion USD. Following that was the Fidelity Ethereum ETF (FETH), with a weekly net inflow of 120 million USD, and a historical total net inflow of 824 million USD.

Next news:

In today's rapidly changing cryptocurrency market, users' demand for financial products is gradually shifting towards flexibility, efficiency, and stable returns. Huobi HTX has deeply understood market needs and officially launched its annual flagship product - the Staking Borrowing Flexible Dynamic Interest Rate Product on December 2nd at 11:00 (UTC+8). With innovative designs such as dynamic interest rates, high staking rates, unlimited borrowing, and zero fees, Huobi HTX provides users with a more flexible, efficient, and worry-free crypto financial lending experience. The first batch of the flexible product supports borrowing and staking of USDT, $BTC, and $ETH, with plans to gradually expand the range of supported cryptocurrencies in the future. Meanwhile, the first phase of the "Borrowing is Mining" limited-time event is launched, allowing participants to share a prize pool of 2,700,000,000 HTX.

Three Major Product Highlights: Flexible, Efficient, Worry-free Lending

As a groundbreaking lending product, the Flexible Dynamic Interest Rate Product from Huobi HTX fully considers market demand and user experience, innovatively introducing the following three core features:

Dynamic Interest Rate Mechanism: Maximizing Capital Efficiency

Unlike traditional fixed-rate products, Huobi HTX's Flexible Dynamic Interest Rate Product adjusts interest rates flexibly based on market fluctuations, ensuring that users always enjoy the most competitive lending conditions in the industry without worrying about the cost pressures that fixed rates may bring. Users can achieve the best lending experience without frequently switching strategies amid dynamic changes.

No Borrowing Limit, Borrow and Repay Anytime: Worry-free Capital Liquidity

To meet users' diverse needs, whether they are individual investors or institutional users, whether for small turnovers or large fund reallocations, the product provides ample support, achieving true flexibility. Users can borrow and repay anytime according to their needs, providing flexible capital allocation solutions in a complex market.

High Staking Rate, Zero Fees: Lowering Capital Usage Threshold and User Costs

Through an efficient staking mechanism, users can leverage more funds with fewer assets to meet various investment and trading needs, further enhancing asset utilization efficiency. Additionally, the elimination of extra fees brings users a more efficient and economical lending experience.

Exciting Benefits: First Phase of "Borrowing is Mining", 2.7 Billion HTX Awaiting Your Share

To celebrate the product launch, Huobi HTX simultaneously introduced the "Borrowing is Mining" event, with a total prize pool of 2,700,000,000 HTX. During the event period (from December 2nd at 11:00 to December 8th at 23:00 (UTC+8)), users participating in the flexible USDT borrowing product can share the HTX prize pool based on their accumulated interest expenditure's proportion of the platform's total interest income from flexible USDT borrowing (limited to USDT flexible borrowing products); the greater the accumulated interest expenditure proportion, the more HTX rewards to be shared.

What’s even more exciting is that this event has a special incentive egg: if the scale of the flexible USDT borrowing product exceeds 30 million USDT at the end of the event, the prize pool for the next event will be directly doubled, providing users with more earning opportunities.

Meeting Users' Multi-Scenario Needs, Reshaping the Future of Crypto Lending

Huobi HTX always adheres to a user-first service philosophy, relying on a globally leading technical team to deeply understand user needs. From flexible dynamic interest rates to zero fees, Huobi HTX continuously optimizes product design from the user's perspective. Whether for ordinary users, high-frequency traders, or institutional users, everyone can find a suitable usage scenario in this product.

For High-Frequency Traders and Arbitrage Players: The flexibility of borrowing and repaying anytime, coupled with high staking rates, enables users to quickly capture market opportunities while avoiding the cumbersome operations of traditional lending products.

For Long-Term Investors: The borrowing product helps users acquire additional funds for investment while maintaining their existing asset holdings, maximizing returns.

For Institutional Users: The high staking rate and zero fee characteristics of Huobi HTX significantly reduce capital costs while providing flexible capital management solutions, aiding efficient operations.

In the future, Huobi HTX will continue to focus on creating more innovative products that meet market demands, injecting new vitality into the global crypto financial market with better services and higher technical standards. Experience the Staking Borrowing Flexible Dynamic Interest Rate Product now and explore a new chapter in crypto finance!

Next news:A whale who opened a position at a low price four years ago transferred over 26.98 million USD worth of WBTC and $ETH to a CEX within 9 hours. According to monitoring by @ai_9684xtpa, the address opened a position of 1,074 WBTC at an average price of 10,708 USD four years ago and is suspected of selling approximately 26.98 million USD worth of WBTC and $ETH in the past 9 hours. The address deposited 50 WBTC (approximately 4.85 million USD) to Binance and 5,957 $ETH (approximately 22.13 million USD) to Coinbase.
Next news:

The decentralized exchange Clipper clarified that a vulnerability in its withdrawal function led to a recent hack of its protocol, resulting in a loss of 450 thousand USD, rather than the alleged private key leak claimed by a "third party." Clipper stated: "On December 1, the attacker exploited two liquidity pools, locking approximately 6% of the total value. A third party claimed there was a private key leak issue. We can confirm that this is not the case and is inconsistent with Clipper's design and security architecture. The withdrawal function in the form of a token (bundled swap + deposit/withdrawal transaction) has been disabled." Previously, security agency fuzzland co-founder @shoucccc tweeted that Clipper was hacked due to an API vulnerability (such as a private key leak). (Cointelegraph)

Next news:

According to Wu's report, data from Coingecko shows that the daily trading volume of XRP on Upbit reached $3.69 billion, accounting for 27.35% of the platform's total trading volume. In comparison, the trading volume for $BTC was only $339 million, while $ETH's trading volume was just $225 million. Additionally, the second to fifth tokens by trading volume on the platform were SHIB, DOGE, XLM, and HBAR.

Next news:

In November, there were over 30 attack incidents in the crypto space, resulting in losses of approximately 85.53 million USD, with about 25.20 million USD recovered.

Headlines

The market capitalization of XRP surpasses TotalEnergies, ranking 144th among global assets. According to Infinite Market Cap data, XRP's market capitalization has exceeded that of TotalEnergies, rising 39 positions to its current rank of 144th among global assets. The data shows that XRP's market capitalization currently stands at 131.46 billion USD, with a 24-hour increase of 19.12% and a weekly increase of 62.37%; TotalEnergies has a market capitalization of 131.29 billion USD.

Ripple has re-locked 1 billion XRP in a custodial wallet early this morning. According to WhaleAlert monitoring, at 2:21 AM today, Ripple re-locked 1 billion XRP in a custodial wallet, valued at approximately 1.55 billion USD. Previously, Ripple stated that it uses a custodial account system to provide transparency and certainty to the XRP market. The company locks most of its XRP holdings to ensure that it does not flood the market and manipulate prices. However, the company also uses XRP in the custodial account to invest in and support projects within the Ripple ecosystem. The monthly release of 1 billion XRP tokens from the custodial account does not mean that all of them will enter the market. Ripple may choose to sell some to institutional or retail investors, use some for its own purposes, or return some to new trusts.

Industry News

The MARA pool mined 820 $BTC in November, a new high since January. The leading Bitcoin mining company MARA's MARA pool mined 820 $BTC in November, achieving its highest monthly output since January. Network data indicates that the MARA pool mined 254 Bitcoin blocks in November (UTC), earning 793.7 $BTC from block subsidies and 26.7 $BTC from transaction fees. This is the highest monthly output for the MARA pool since January, partly due to the reduced uptime earlier this year. The average Bitcoin network hashrate in November was 731 EH/s, while the block production from the MARA pool indicates an actual hashrate of 42.7 EH/s. This suggests that the company installed additional mining machines in November, as it reported an operational capacity of 40.2 EH/s at the end of October.

The rebound in Ethereum prices has driven a recovery in the NFT market, with November NFT sales exceeding 562 million USD. With the recovery of Ethereum prices, November NFT monthly sales exceeded 562 million USD, a significant increase of 57.8% compared to 356 million USD in October, with Ethereum network sales surpassing 216 million USD, up 12% from October. However, the monthly trading volume of NFTs is still far from reaching the peak in 2024. In March of this year, NFT sales reached a yearly high of 1.60 billion USD. However, they have remained sluggish and hit a low of 303 million USD in September, the lowest since 2021. CryptoSlam data also shows that CryptoPunks led the NFT market in November, with 30-day sales exceeding 49 million USD, a 392% increase compared to the previous month. There were 388 sales transactions recorded, an increase of 213% compared to October. Besides CryptoPunks, the Pudgy Penguins series also had an impressive November, with monthly sales soaring 262% to reach 16 million USD.

Ethereum Foundation researcher: Ethereum L1 will gradually improve in the future, with significant performance enhancements for L2 in the coming months. Ethereum Foundation researcher Justin Drake stated that today marks the four-year anniversary of the launch of Ethereum's beacon chain, which initially had only 500,000 $ETH staked. Although it did not provide direct benefits to users at the beginning, it has gradually grown to become one of the most powerful foundations in blockchain history. Looking ahead, Drake believes that Ethereum has the opportunity to become a settlement layer for the value internet. Despite the beacon chain still being imperfect, the upgrade path in the coming years will remain challenging, including improvements in censorship resistance and MEV handling, reducing staking deposits, increasing finalization speed, achieving smart contract-level full-chain verification, and post-quantum security. Meanwhile, beyond the consensus layer, there are hopes to achieve full sharding on the data layer and native rollups on the execution layer. Drake mentioned that many L1 improvements will be gradually released in the coming years, with upgrades like post-quantum security potentially requiring a complete redesign. L2 solutions will provide significant performance enhancements in the coming months, including faster user experience, low fees, unlimited throughput, and synchronous composability.

BlackRock's IBIT holdings exceed 48 billion USD. Official data from BlackRock shows that as of November 27, the market value of IBIT holdings reached 48,035,615,461.69 USD, with a holding of 495,443.6524 BTC.

The total on-chain holdings of Bitcoin spot ETFs in the U.S. exceed 1.12 million $BTC, valued at 108.90 billion USD. Dune data shows that as of December 1, the total on-chain holdings of Bitcoin spot ETFs in the U.S. exceeded 1.12 million $BTC (approximately 1.12...
80,000 $BTC), accounting for 5.7% of the current $BTC supply; the on-chain holdings are valued at 108.90 billion USD.

In November, there were over 30 attacks in the crypto space: resulting in losses of approximately 8.55 million USD, with about 2.52 million USD recovered. According to a report by CyberShield, in November 2024, there were more than 30 hacking incidents in the cryptocurrency sector, causing losses of about 8.55 million USD, of which approximately 2.52 million USD was recovered. The top 5 hacking incidents are as follows:
- Thala: 25.50 million USD (recovered 25.20 million USD + 300 thousand USD bug bounty);
- DEXX: 21 million USD;
- Gifto: 12 million USD;
- PolterFinance: 8.70 million USD;
- DeltaPrime: 4.75 million USD.

Former CFTC Chairman: SEC may drop the lawsuit against Ripple. Former CFTC Chairman Chris Giancarlo discussed the high-profile lawsuit by the U.S. SEC against Ripple regarding XRP in an interview this week. The SEC accused Ripple of issuing XRP in violation of securities laws, and a federal court ruled that some of the issuance met the criteria for securities while others did not. Giancarlo believes the SEC should reconsider its approach, especially in light of recent legal outcomes and the potentially changing regulatory environment. When asked if the SEC would drop the lawsuit against Ripple, Giancarlo said, "I think they should... I bet they will."

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