SoSo Daily Dec 23 | Bitcoin has fallen below 95,000 USDT.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on December 22, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.42 trillion US dollars, witnessing a decrease of 2.91% compared to yesterday; the total trading volume is 170.81 billion US dollars, marking a decline of 20.6% from the previous day.

According to sosovalue, the price of $BTC is 95,189 USD, a decrease of 2.16% from yesterday. The market cap of $BTC is 1.88 trillion USD, accounting for 55.1% of the total market cap; $BTC's 24-hour trading volume is 44.11 billion USD, making up 25.8% of the total trading volume.
The price of $ETH is 3,281.9 USD, down 1.71% from yesterday; the market cap of $ETH is 395.32 billion USD, representing 11.6% of the total market cap; $ETH's 24-hour trading volume is 25.76 billion USD, comprising 15.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 40.9% 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 TIME. As of 23:50 today, its market cap is 1.59M, with a coin price of 0.0000034099 USD, witnessing a 24-hour increase of 256%.
The second is Strips Finance. As of 23:50 today, its coin price is 1.0310 USD, with a 24-hour increase of 63.7%.
The third is NexGami. As of 23:50 today, its coin price is 0.00042350 USD, showing a 24-hour increase of 62.9%.
In fourth place is LUCE. As of 23:50 today, its coin price is 0.084300 USD, with a 24-hour rise of 47.1%.
In fifth place is Alchemist AI. As of 23:50 today, its coin price is 0.050900 USD, increasing by 40.6% 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, 3 are up and 13 are down. Notably, CeFi, NFT, and AI sectors are worth mentioning.
CeFi sector has fallen by 2.46% relative to the UTC 0 time, led by declines in QASH (-15%), HYPE (-12%), and CHO (-8.15%).
NFT sector has decreased by 2.48% relative to UTC 0, with SN (-44.9%), TALK (-25.7%), and PSL (-9.51%) leading the drop.
AI sector has fallen by 2.63%, with CGPT (-20%), ARC (-14.7%), and GRIFFAIN (-14%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin drops below 95,000 USDT
Next news:

According to Wu, Binance founder Changpeng Zhao tweeted that the United Arab Emirates (UAE) holds $40 billion worth of Bitcoin. However, the source of this information comes from some unknown niche websites, and there has been no official confirmation yet.

Next news:

Odaily Planet Daily reported that Coinglass data shows that in the past 24 hours, the total liquidation across the network was $278 million, of which $190 million were long position liquidations and $88.16 million were short position liquidations.

Next news:Frax Finance is considering integrating BlackRock's BUIDL token as a reserve asset for its Frax USD stablecoin, pending governance approval. Securitize Markets, acting as a transfer agent for BlackRock, proposed this integration to enhance Frax USD's utility and reduce counterparty risk. The proposal has received positive feedback from Frax Finance DAO members. If approved, Frax USD will join other stablecoins in using BUIDL as backing, which currently manages over $530 million in assets. Frax Finance also plans to rebrand its stablecoin to Frax USD (frxUSD) and introduce a yield-bearing version, sfrxUSD. A new mint-redeem system will be implemented, allowing entities to mint frxUSD using BUIDL tokens. Competing proposals from Superstate suggest using its USTB Treasury bills and USCC fund as backing for frxUSD.
Next news:

According to Foresight News, Asher Genoot, the CEO of the Nasdaq-listed Bitcoin mining company Hut 8, explained in a post why the company has chosen to establish a strategic Bitcoin reserve. He stated, "Fundamentals-first operational strategy + proactive capital management = exceptional value creation potential." A screenshot shared by Asher Genoot shows that Hut 8's strategic Bitcoin reserve supports a flywheel effect, combining capital and operational strategies to accelerate the overall value creation of the business. Its capital strategy includes: allocating capital to projects with high ROIC, capturing $BTC price increases and strengthening the balance sheet, increasing strategic $BTC reserves through low-cost production and strategic market purchases, and focusing on providing exceptional long-term returns to shareholders; its operational strategy includes: scaling operations and geographic reach, developing digital infrastructure platforms, expanding $BTC mining scale, and reducing $BTC mining costs.

Next news:Trump appointed Stephen Millan as the Chairman of the Council of Economic Advisers. In a recent podcast, Millan stated that he firmly believes innovation can drive human progress and increase prosperity.
Next news:Ethereum has fallen below 3400 USDT.
Next news:

Trump posted on social media, confirming that Bo Hines has been appointed as the Executive Director of the President's Advisory Council on Digital Assets, collaborating with Chairman David Sacks to promote innovation and development in digital assets. Hines previously ran for Congress in 2022 with the support of a cryptocurrency advocacy political action committee but was unsuccessful in his election bid. Trump also appointed former Treasury official Stephen Miran as the Chairman of the Economic Advisory Council. Miran has previously stated that excessive regulation could stifle bank lending and innovation in the crypto economy. (TheBlock)

Next news:Asia's weekly TOP10 crypto news (Dec 16 to Dec 22) Japan’s Crypto Tax Reforms May Take Shape by 2025, Former Korean Lawmaker Faces Six-Month Sentence for Concealing ₩10 Billion in Crypto Assets, Bitcoin Mining Rig Prices Surge in ShenZhen, Buyers Mainly from Russia, USA, and Canada.
Next news:

Odaily Planet Daily reports that OKX market data shows SOL has dropped below 180 USDT, currently priced at 179.95 USDT, with a 24H decline of 0.19%. (This news brief is AI-assisted.)

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.