SoSo Daily Jun 6 | Whale James Wynn: Aware that he has long lost control, but while wanting to recover losses, he also fears being ridiculed.
Crypto Market Update
Let's turn our attention to today's overall Crypto market situation.
As of 5:58 AM Hong Kong time on June 6, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.33 trillion US dollars, witnessing a decrease of 4.92% compared to yesterday; the total trading volume is 142.12 billion US dollars, marking an increase of 59.4% from the previous day.
Cryptocurrency Market Update - June 6, 2025
According to sosovalue, the price of $BTC is 102,950 USD, a decrease of 1.62% from yesterday. The market cap of $BTC is 2.05 trillion USD, accounting for 61.5% of the total market cap; $BTC's 24-hour trading volume is 38.96 billion USD, making up 27.4% of the total trading volume.
The price of $ETH is 2,458.8 USD, down 5.91% from yesterday; the market cap of $ETH is 296.83 billion USD, representing 8.92% of the total market cap; $ETH's 24-hour trading volume is 28.28 billion USD, comprising 19.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 70.42% of the total cryptocurrency market cap, and their combined trading volumes constitute 47.3% of the total trading volume.
As of 05:50 on 2025/06/06, according to sosovalue, the top five gainers are:
Top 1 gainer is CUDIS. As of 05:50 today, its market cap is 37.32M USD, with a coin price of 0.15080 USD, witnessing a 24-hour increase of 202%.
The second is sudoswap (SUDO). As of 05:50 today, its coin price is 0.078760 USD, with a 24-hour increase of 53.8%.
The third is Winnerz (WNZ). As of 05:50 today, its coin price is 0.0070310 USD, showing a 24-hour increase of 40.6%.
In fourth place is Ravencoin (RVN). As of 05:50 today, its coin price is 0.014740 USD, with a 24-hour rise of 36.1%.
In fifth place is Retard Finder Coin (RFC). As of 05:50 today, its coin price is 0.012280 USD, increasing by 33.3% over the last 24 hours.
Sector Performance in Crypto Market
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, Layer2, Meme, and $ETH sectors are worth mentioning.
Layer2 sector has fallen 5.46% relative to the UTC 0 time, led by declines in aergo (-14.8%), corn (-14.7%), and TAIKO (-11.7%).
Meme sector has decreased 5.77% relative to UTC 0, with bitcoin (-27%), STRUMP (-19.6%), and dog (-17.6%) leading the drop.
$ETH sector has fallen 5.9%, with $eth (-5.9%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:ChainCatcher reports that whale James Wynn posted on social media stating that he only started participating in perpetual contract trading in March of this year. Before that, he had never traded seriously and at most just speculated on MEME coins. In just one month, he rolled over 3 million USD to 100 million USD, then lost it all within a week on HyperLiquid. At the time, he was just messing around, but since on-chain data is public, hundreds of thousands were watching his account's dramatic rises and falls, so he decided to let loose. Later, things gradually got out of control. He realized that this was essentially gambling; he wanted to recover his losses but was also afraid of being mocked for "not being able to keep 100 million despite making it," so he sank deeper. The numbers flickering on the screen became a virtual game, and greed completely took over.
Next news:
According to SoSoValue data, Bitcoin spot ETF saw a total net outflow of 278.44M USD yesterday (Eastern Time, June 5th).
The Bitcoin Spot ETF with the highest net outflow yesterday was Ark Invest and 21Shares's ETF ARKB, with a daily net outflow of 102.03M USD, and the total historical net inflow of ARKB currently stands at 2.41B USD.
The second highest was Fidelity's ETF FBTC, with a daily net outflow of 80.17M USD, and the total historical net inflow of FBTC currently stands at 11.42B USD.
As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 122.98B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 6.16%. The historical cumulative net inflow has reached 44.29B USD.
Source: https://sosovalue.com/zh/assets/etf/us-btc-spot
Next news:Bitcoin falls below 103,000 USDT
Next news:ChainCatcher news: OKX - ETH/USDT is currently quoted at $2600.71, with a 5-minute decline of 0.10%.
Next news:ChainCatcher news, according to market data, Tesla (TSLA) stock price plunged sharply today, with intraday decline expanding to 17%, resulting in a market value shrinkage of approximately 100 billion USD.
Next news:ChainCatcher news: The Hong Kong Special Administrative Region Government today (June 6) published the "Stablecoins Ordinance (Commencement Date) Notice" in the Gazette, designating August 1, 2025, as the commencement date for the "Stablecoins Ordinance" (Chapter 656) (the "Ordinance"). Paul Chan Mo-po, Secretary for Financial Services and the Treasury, stated: "Once the Ordinance comes into effect, the licensing regime will provide appropriate regulation for related stablecoin activities, marking a milestone in promoting the sustainable development of Hong Kong's stablecoin and digital asset ecosystem."
Next news:
On June 6, according to data from SoSoValue, the crypto market recorded its third consecutive day of declines, with sector-wide losses ranging from 2% to 8%. Bitcoin ($BTC) fell 2.95%, briefly retreating to around $100,000. Ethereum ($ETH) dropped 7.23%, at one point falling below $2,400. Additionally, the Meme sector fell 8.04%, with OFFICIAL TRUMP (TRUMP) and Pepe (PEPE) down 10.00% and 10.68%, respectively, while Fartcoin (FARTCOIN) defied the trend, rising 8.34%.
In other sectors, the PayFi sector fell 4.25% over the past 24 hours, with Keeta (KTA)—which had previously seen significant gains—dropping 14.05%. The CeFi sector declined 4.45%, with Hyperliquid (HYPE) down 5.71%. The Layer1 sector dropped 4.59%, with Cardano (ADA) and Sui (SUI) down 6.39% and 7.35%, respectively. The DeFi sector declined 6.03%, with Chainlink (LINK) and Aave (AAVE) down 6.29% and 8.20%. The Layer2 sector fell 7.03%, led by Arbitrum (ARB), which dropped 9.46%.
Crypto sector indices reflecting historical performance showed 24-hour losses of 8.07% for ssiMeme, 6.98% for ssiLayer2, and 6.96% for ssiNFT.
Next news:According to Bloomberg, internal conflicts have arisen within the Trump family's crypto business. World Liberty Financial, owned by Trump's children, sent a legal letter to Fight Fight Fight, a company led by presidential confidant Bill Zanker, demanding the cessation of the use of the "TRUMP" name to promote the unauthorized wallet project "TRUMP Wallet." This wallet was developed in collaboration between Fight Fight Fight and Magic Eden, promising support for memecoin and other digital asset trading functions, which sparked public opposition from Donald Trump Jr. and Eric Trump.
Next news:According to ChainCatcher, based on monitoring by Onchain Lens, during the market downturn, Abraxas Capital currently has unrealized profits exceeding 55 million USD from short positions on $BTC, $ETH, SOL, HYPE, and SUI on HyperLiquid, involving 2 wallets.
Next news:According to ChainCatcher, citing Decrypt, Greg Solano, CEO of Yuga Labs, the creator of Bored Ape Yacht Club, has proposed abolishing the Ape Coin DAO. The plan involves transferring its assets and responsibilities to a newly established Yuga entity called Ape Co, thereby terminating all governance rights of APE holders. Solano criticized the DAO for inefficiency and resource wastage, stating "It needs to stop." If the proposal is approved, the DAO will be completely dissolved, all pending proposals will be voided, and Ape Co will take the lead in the development of Ape Chain, BAYC, and Otherside projects.
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.