SoSo Daily Dec 11 | The US Ethereum spot ETF has seen net inflows for 12 consecutive days, led by Fidelity and BlackRock.

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on December 11, 2024, the total market cap of the crypto market stands at 3.62 trillion US dollars, witnessing a decrease of 1.16% compared to yesterday; the total trading volume is 395.31 billion US dollars, marking a decline of 17.1% from the previous day.

According to sosovalue, the price of $BTC is 97,491 USD, an increase of 0.484% from yesterday. The market cap of $BTC is 1.93 trillion USD, accounting for 53.3% of the total market cap; $BTC's 24-hour trading volume is 128.13 billion USD, making up 32.4% of the total trading volume.
The price of $ETH is 3,659 USD, down 1.22% from yesterday; the market cap of $ETH is 440.71 billion USD, representing 12.2% of the total market cap; $ETH's 24-hour trading volume is 49.54 billion USD, comprising 12.5% 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 44.9% 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 Magic Eden. As of 05:50 today, its market cap is 756.00M, with a coin price of 5.7810 USD, witnessing a 24-hour increase of 1830%.
The second is Koma Inu. As of 05:50 today, its coin price is 0.15650 USD, with a 24-hour increase of 1470%.
The third is Eliza. As of 05:50 today, its coin price is 0.058791 USD, showing a 24-hour increase of 68.8%.
In fourth place is Degen Spartan AI. As of 05:50 today, its coin price is 0.059169 USD, with a 24-hour rise of 65.5%.
In fifth place is ai16z. As of 05:50 today, its coin price is 0.71008 USD, increasing by 48.5% 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, 6 are up and 10 are down. Notably, NFT, PayFi, and Layer2 sectors are worth mentioning.
NFT sector has risen 11.6% relative to the UTC 0 time, led by gains in ME (1840%), psl (29.3%), and dome (26.9%).
PayFi sector has increased 5.17% relative to UTC 0, with xrp (7.37%), clv (6.37%), and xmr (4.38%) leading the rise.
Layer2 sector has fallen 3.91%, with Move (-33.1%), SCR (-11.3%), and A8 (-9.29%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Ethereum spot ETF had a total net inflow of $150 million on December 9, and continued to have net inflows for 11 consecutive days. BlackRock ETF ETHA had a single-day net inflow of $155 million, and Fidelity ETF FETH had a single-day net inflow of $30.1118 million.
Next news:Microsoft shareholders have voted against a proposal to include Bitcoin in the company's financial reserves. The decision reflects a cautious approach towards cryptocurrency investments, aligning with the company's current financial strategy. This move indicates Microsoft's preference to maintain traditional asset management practices, avoiding the volatility associated with cryptocurrencies.
Next news:Ripple's RLUSD stablecoin has received final approval from the New York State Department of Financial Services, as announced by CEO Brad Garlinghouse. The stablecoin is expected to be listed on exchanges and with partners soon. Ripple CTO David Schwartz expressed hopes for a launch by the end of the year. Initially announced in April, RLUSD will be available on Ledger and Ethereum. Testing began in August, and Ripple has partnered with several exchanges and market makers to support its launch and liquidity.
Next news:According to Wu's report, based on SoSoValue data, the total net inflow of Bitcoin spot ETFs yesterday (Eastern Time December 10) was $440 million. The Bitcoin spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, which had a single-day net inflow of $296 million, bringing its historical total net inflow to $35.06 billion; following that was Fidelity's ETF FBTC, with a single-day net inflow of $210 million, and its historical total net inflow currently stands at $12.10 billion.
Next news:

Eric Trump, the son of former U.S. President Donald Trump and Executive Vice President of the Trump Organization, delivered a keynote speech at the Bitcoin MENA event in Abu Dhabi, stating that Bitcoin will become a "financial paradigm" and predicting that the price of Bitcoin will reach 1 million dollars in the future. Eric Trump emphasized that Bitcoin is not only an investment tool but also a "global asset" with value in combating inflation, political instability, and natural disasters. He believes that the limited supply of 21 million Bitcoins is one of its most important features and pointed out that "early adopters will be the ultimate winners." At the same time, he urged governments and banks to adapt to the digital revolution of Bitcoin and stated that the Trump family fully supports the development of Bitcoin. (Cointelegraph)

Next news:Coincheck, Japan's second-largest cryptocurrency exchange, is set to go public on Nasdaq through a merger with Thunder Bridge Capital, becoming the second crypto exchange to do so in the U.S. The listing follows the filing of an F-4 form with the SEC and a de-SPAC merger valued at $1.25 billion. The move aims to attract international investors and facilitate global acquisitions. Coincheck's market cap is expected to be $1.3 billion. The merger, approved by the SEC, will result in the company trading under the ticker CNCK. Monex Group, which acquired Coincheck in 2018, remains its parent company.
Next news:A whale transferred 3,000 $ETH held for three weeks to Binance, with an expected profit of $827,000. According to on-chain analyst @ai_9684xtpa's monitoring, the whale, with the address 0x1b5...fAF98, deposited the 3,000 $ETH to Binance that was opened three weeks ago at an average price of $3,363. If sold, this transaction would yield a profit of $827,000.
Next news:According to reports from Dongwang, on December 10, Chen Haolian, Deputy Secretary for Financial Services and the Treasury of Hong Kong, revealed that there are currently over 300 Web3-related enterprises in Hong Kong, and 3 virtual asset trading platforms have obtained licenses from the Securities and Futures Commission. More platforms are expected to be approved within the year. Chen Haolian stated that the Financial Services and the Treasury Bureau plans to submit the "Stablecoin Regulation Draft" to the Legislative Council within the year to regulate stablecoin issuers, prevent money laundering and terrorist financing risks, while also protecting investors and promoting healthy market development. In addition, next year, a second round of public consultation on the regulation of over-the-counter trading of virtual assets will be conducted, and proposals for a licensing system for virtual asset custody service providers will be put forward.
Next news:David Solomon, the CEO of Goldman Sachs, stated that the company might consider entering Bitcoin and Ethereum trading if the regulatory environment in the United States changes. At Reuters' Next conference, Solomon mentioned that Goldman Sachs' ability to participate in the cryptocurrency space is limited due to current regulatory constraints. He pointed out that as the regulatory framework evolves, Goldman Sachs will assess the possibility of entering the market. Solomon also mentioned that new regulatory changes for the cryptocurrency industry might arise following Trump's election as president. Since November, Bitcoin prices have reached new highs, exceeding 100 thousand USD. Goldman Sachs launched its cryptocurrency trading division in 2021 and participated in the testing of the Canton Network.
Next news:

Francisco Aguilar, the Secretary of State of Nevada, announced the introduction of blockchain technology into the state election certification process to enhance election security. Although the 2024 presidential election concluded a month ago, Aguilar stated that this initiative aims to ensure transparency and trust in future elections. He pointed out that blockchain can effectively prevent document tampering or forgery, and Nevada will become one of the first states in the nation to adopt this technology for election certification. (Cointelegraph)

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.