SoSo Daily Dec 23 | Trump Appoints Bo Hines as Head of the Cryptocurrency Committee
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on December 23, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.44 trillion US dollars, witnessing a decrease of 1.52% compared to yesterday; the total trading volume is 188.26 billion US dollars, marking a decline of 10.7% from the previous day.
According to sosovalue, the price of $BTC is 95,573 USD, a decrease of 0.607% from yesterday. The market cap of $BTC is 1.89 trillion USD, accounting for 55% of the total market cap; $BTC's 24-hour trading volume is 49.60 billion USD, making up 26.3% of the total trading volume.
The price of $ETH is 3,316.8 USD, down 0.408% from yesterday; the market cap of $ETH is 399.52 billion USD, representing 11.6% of the total market cap; $ETH's 24-hour trading volume is 29.14 billion USD, comprising 15.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 41.8% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is TIME. As of 05:50 today, its market cap is 1.12M, with a coin price of 0.0000024010 USD, witnessing a 24-hour increase of 151%.
The second is BABB. As of 05:50 today, its coin price is 0.00021937 USD, with a 24-hour increase of 115%.
The third is Alchemist AI. As of 05:50 today, its coin price is 0.061300 USD, showing a 24-hour increase of 72.2%.
In fourth place is NexGami. As of 05:50 today, its coin price is 0.00042240 USD, with a 24-hour rise of 55.1%.
In fifth place is Saros. As of 05:50 today, its coin price is 0.013837 USD, increasing by 53.7% 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, 12 are up and 4 are down. Notably, DeFi, SocialFi, and Meme sectors are worth mentioning.
DeFi sector has risen 3.07% relative to the UTC 0 time, led by gains in saros (51%), fxs (35.1%), and PRISMA (19.1%).
SocialFi sector has increased 2.9% relative to UTC 0, with 00 (24%), GAL (10.5%), and mbl (9.81%) leading the rise.
Meme sector has risen 2.26%, with $TIME (190%), koma (49.7%), and DOGE (43.5%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Donald Trump appointed former college football player and Republican House nominee Bo Hines as the head of the Crypto Council. Hines will serve as the Executive Director of the Presidential Advisory Council on Digital Assets, working alongside David Sacks to promote innovation and growth in the digital asset space. Hines received funding from pro-crypto political action committees during his 2022 congressional campaign. Trump also appointed former Treasury official Stephen Miller as the Chairman of the Council of Economic Advisors.
Next news:
According to SoSoValue data, during the last trading week (Eastern Time from December 16 to December 20), the Ethereum spot ETF saw a net inflow of $62.73 million. The Ethereum spot ETF with the highest net inflow last week was Blackrock's Ethereum ETF ETHA, which had a weekly net inflow of $144 million, bringing the historical total net inflow for ETHA to $3.34 billion.
Next news:Bitcoin drops below 95,000 USDT
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 and monitoring by Onchain Lens, Arthur Hayes, co-founder of BitMEX, deposited 2 million ENA, worth approximately 2.06 million USD, into Bybit 2 hours ago. Previously, he had unstaked 9.01 million ENA and deposited 7 million ENA into Binance.
According to Foresight News and monitoring by Onchain Lens, Arthur Hayes, co-founder of BitMEX, deposited 2 million ENA, worth approximately 2.06 million USD, into Bybit 2 hours ago. Previously, he had unstaked 9.01 million ENA and deposited 7 million ENA into Binance.
Next news:Wu reported that the entire cryptocurrency market has experienced a pullback, with the AI and PayFi sectors seeing larger declines of -4.38% and -4.45% respectively. The SocialFi and DeFi sectors performed relatively well, with slight pullbacks of -0.29% and -2.13% each. In other sectors, the DePIN sector dropped by -2.55%, the RWA sector fell by -2.82%, the Meme sector decreased by -3.31%, the Layer 1 sector dropped by -3.65%, and the Layer 2 sector fell by -3.66%.
Next news:According to reports from Beincrypto, VanEck's latest report predicts that by adopting a strategic Bitcoin reserve, the United States could significantly reduce its national debt by up to 36% by 2050. VanEck noted that if Bitcoin achieves an average annual appreciation rate of 25%, its price could soar to 42 million USD by 2049. Mathew Sigel, the head of research at VanEck, pointed out that Bitcoin may become a global trade settlement currency in the future, providing an alternative for countries seeking to evade U.S. dollar sanctions. Additionally, VanEck recommends halting the sale of Bitcoin in the asset seizure reserves and initiating preliminary purchases through the Exchange Stabilization Fund (ESF) to accelerate reserve building.
Next news:According to Bitcoin Magazine, Max Keiser, a senior bitcoin advisor to the President of El Salvador, revealed that President Bukele has increased his daily bitcoin purchases, with a mid-term goal of holding an additional 20,000 bitcoins. El Salvador has increased its holdings of 11 bitcoins today, about $1.06 million. The country currently holds a total of 5.994K $BTC, worth more than $580 million.
Next news:
Gate Group announced that its Singapore entity Gate Information PTE. LTD. (CEO: Lin Han) has successfully acquired all issued shares of the Japanese cryptocurrency trading service provider Coin Master Co., Ltd. At the same time, Coin Master Co., Ltd. is renamed "Gate Japan Co., Ltd." effective immediately.
Next news:
According to @sankin_eth, since the launch of 29 tokens on Binance Alpha, 17 tokens have increased in value while 12 tokens have decreased. Generally, tokens with smaller market capitalizations have seen higher percentage increases; the largest declines were seen in APX and GRIFFAIN, which dropped by -28% and -25%, respectively; the largest increases were in Shoggoth, FROG, BOB, TERMINUS, and GNON, all of which rose by over 100%.
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.