SoSo Daily Nov 8 | BTC spot ETF total net inflow was $1.38B yesterday, reaching a record high in net inflow.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM UTC0 time on November 8, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.69 trillion US dollars, witnessing an increase of 0.662% compared to yesterday; the total trading volume is 170.97 billion US dollars, marking a decline of 13.4% from the previous day.

According to sosovalue, the price of $BTC is 75,941 USD, an increase of 1.6% from yesterday. The market cap of $BTC is 1.50 trillion USD, accounting for 55.8% of the total market cap; $BTC's 24-hour trading volume is 59.43 billion USD, making up 34.8% of the total trading volume.
The price of $ETH is 2,914.2 USD, up 4.37% from yesterday; the market cap of $ETH is 350.93 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 33.10 billion USD, comprising 19.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.2% 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 11:50 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Plian. As of 11:50 today, its market cap is 1.28M, with a coin price of 0.0012530 USD, witnessing a 24-hour increase of 149%.
The second is Ferro. As of 11:50 today, its market cap is 9.22M, with a coin price of 0.0069940 USD, witnessing a 24-hour increase of 118%.
The third is Veno Finance. As of 11:50 today, its market cap is 10.66M, with a coin price of 0.037900 USD, showing a 24-hour increase of 76.5%.
In fourth place is Drift Protocol. As of 11:50 today, its market cap is 197.80M, its coin price is 0.80480 USD, with a 24-hour rise of 66.2%.
In fifth place is Meter Governance. As of 11:50 today, its market cap is 14.31M, its coin price is 0.52550 USD, increasing by 64.9% over the last 24 hours.


Moving on, let's take a look at the sector performance in the crypto market.
According to sosovalue, out of 16 sectors, 15 are up and 1 is down. Notably, Layer1, $ETH, and DePIN sectors are worth mentioning.
Layer1 sector has risen 4.49% relative to the UTC 0 time, led by gains in mtrg (70.9%), erg (29%), and wit (25.8%).
$ETH sector has increased 4.35% relative to UTC 0, with $eth (4.35%) leading the rise.
DePIN sector has risen 4.07%, with GRASS (43.4%), honey (29.6%), and hopr (20.1%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to SoSoValue, as of November 7th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $1.38B.

Yesterday, Grayscale's ETF GBTC had a net inflow of $7.31M, bringing GBTC's total historical net outflow to $20.19B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 20.38M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $541.77M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $1.12B, with IBIT's total historical net inflow reaching $27.18B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $190.92M, with FBTC's total historical net inflow reaching $10.73B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $78.50B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.19%. The historical cumulative net inflow has reached $25.49B.

Source: https://sosovalue.com/assets/etf

Next news:BlackRock’s iShares Bitcoin Trust (IBIT) attracted a record net inflows of $1.12 billion, reflecting strong investor confidence and favorable market conditions. The surge in inflows comes after the spot bitcoin exchange-traded fund set a new record of single-day trade volume. Pro-crypto Republican candidate Donald Trump’s victory and the Federal Open Market Committee's interest rate cut also contributed to the boost in investor sentiment. Other bitcoin funds, including Fidelity’s FBTC and Grayscale’s mini trust, also reported net inflows.
Next news:The company's shares fell after reporting third quarter sales that missed estimates by 4%.
Next news:Detroit will become the largest city in the United States to accept cryptocurrency payments, city officials announced Thursday. Residents can pay taxes and other city fees using crypto through a secure platform managed by PayPal. The option will become available in mid-2025, along with additional improvements to city payment services. Detroit aims to explore innovative technologies that could enhance public services, strengthen civic engagement, and foster economic growth. The city is also inviting blockchain entrepreneurs to pitch their ideas for blockchain civic applications.
Next news:According to a report from Deep Tide TechFlow on November 8, AI monitoring indicates that the smart money betting on the Ethereum-based meme coin DOGE has gained a profit of 4.36 million dollars within three days, with a return rate of 862%. They increased their position by purchasing 6.01 million DOGE when the market cap of the Ethereum-based meme coin DOGE was only 76 million dollars, and now the market cap of this token has risen to 143 million dollars.
Next news:According to Wu's report, Onchain Lens has monitored that Paradigm Capital (@paradigm) transferred another 6.93 million LDO to Coinbase 2 hours ago, valued at 9.32 million USD. Yesterday, they transferred 70 million LDO into 2 different wallets. In total, they have sent 15.11 million LDO, valued at 18.77 million USD. Currently, they still hold 54.88 million LDO, valued at 70.99 million USD.
Next news:According to Wu Shuo, based on data from SoSoValue, the total net inflow for Ethereum spot ETFs yesterday (Eastern Time on November 7) was $79.74 million. Grayscale's Ethereum mini trust ETF $ETH saw a net inflow of $5.48 million in a single day, and the historical total net inflow for Grayscale's Ethereum mini trust $ETH is now $302 million. The Ethereum spot ETF with the highest single-day net inflow yesterday was Fidelity ETF FETH, with a net inflow of $28.93 million. This was followed by BlackRock ETF ETHA, with a single-day net inflow of $23.66 million.
Next news:The California Department of Financial Protection and Innovation (DFPI) permanently revoked the financial lending license of the cryptocurrency lending institution BlockFi two years after its bankruptcy. DFPI stated that BlockFi reached a settlement agreement, agreeing to revoke its license, cease and avoid violations, and stop unsafe practices. BlockFi filed for bankruptcy in 2022.
Next news:The Ethereum Foundation holds $788 million in crypto assets, mostly in ether, according to its latest financial report. The foundation believes in Ethereum's potential and chooses to hold the majority of its treasury in ETH. It also follows a conservative treasury management policy to ensure sufficient resources in case of a market downturn. The foundation's largest expenditure in 2023 was on new institutions and Layer 1 research and development. Ethereum has seen steady momentum with an increase in active addresses and on-chain volume.
Next news:According to Wu, Tonhub has announced the launch of a Visa debit card that allows users to make payments directly using their TON or USDT balances. The card charges a 1.5% transaction fee and supports SEPA, SWIFT, Apple Pay, and Google Pay. It is currently available to holders of EU identification cards, with plans to expand its services by 2025.

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.