SoSo Daily Nov 9 | BTC spot ETF total net inflow was $293.47M yesterday, with the net asset ratio reaching 5.21%.

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM UTC0 time on November 9, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.73 trillion US dollars, witnessing an increase of 0.221% compared to yesterday; the total trading volume is 163.69 billion US dollars, marking a decline of 3.42% from the previous day.

According to sosovalue, the price of $BTC is 76,568 USD, an increase of 0.78% from yesterday. The market cap of $BTC is 1.51 trillion USD, accounting for 55.5% of the total market cap; $BTC's 24-hour trading volume is 55.45 billion USD, making up 33.9% of the total trading volume.
The price of $ETH is 3,040.3 USD, up 3.97% from yesterday; the market cap of $ETH is 366.11 billion USD, representing 13.4% of the total market cap; $ETH's 24-hour trading volume is 30.48 billion USD, comprising 18.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 52.5% 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 05:50 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Ferro. As of 05:50 today, its market cap is 16.36M, with a coin price of 0.012402 USD, witnessing a 24-hour increase of 210%.
The second is Drift Protocol. As of 05:50 today, its market cap is 492.17M, with a coin price of 1.9915 USD, witnessing a 24-hour increase of 126%.
The third is BLOCKLORDS. As of 05:50 today, its market cap is 14.39M, with a coin price of 0.95890 USD, showing a 24-hour increase of 91%.
In fourth place is Vectorspace AI. As of 05:50 today, its market cap is 15.06M, its coin price is 0.39650 USD, with a 24-hour rise of 65.4%.
In fifth place is X Empire. As of 05:50 today, its market cap is 0E-8, its coin price is 0.00016825 USD, increasing by 62.5% 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, 14 are up and 2 are down. Notably, CeFi, Layer2, and DeFi sectors are worth mentioning.
CeFi sector has risen 5.44% relative to the UTC 0 time, led by gains in troy (26%), sclp (9.4%), and cro (7.27%).
Layer2 sector has increased 5.3% relative to UTC 0, with A8 (26.9%), AIX (23.6%), and lrc (17.7%) leading the rise.
DeFi sector has risen 4.43%, with fer (204%), drift (137%), and stg (50.9%) 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 8th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $293.47M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00 , bringing GBTC's total historical net outflow to $20.19B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 0.00 ，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 $206.13M, with IBIT's total historical net inflow reaching $27.39B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $33.52M, with FBTC's total historical net inflow reaching $10.76B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $78.91B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.21%. The historical cumulative net inflow has reached $25.79B.

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

Next news:The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on whether to approve spot Ethereum exchange-traded fund (ETF) options, stating that more analysis and public input are needed, particularly regarding whether the proposed rule changes comply with the Securities Exchange Act requirements. The SEC emphasized concerns about market manipulation, preventing investor losses, and ensuring fair trading. This delay involves multiple Ethereum-related products, including the options proposals from Bitwise and Grayscale, while also considering whether the BlackRock iShares Ethereum Trust (ETHA) can list options. Previously, the SEC approved several Ethereum ETFs, and the trading volume of these funds has recently surged, indicating strong market demand for Ethereum products. (TheBlock)
Next news:Pharos, a developer of a Layer 1 blockchain targeting fintech use cases, has raised $8 million in a seed funding round. Lightspeed Faction and Hack VC co-led the round, with SNZ Capital participating as a strategic anchor investor. Pharos aims to establish a unique payment-grade web3 infrastructure and support 50,000 transactions per second (TPS). The network plans to launch a testnet in Q1 2025 and a mainnet later in the year.
Next news:According to Wu Shuo, citing Bloomberg, the iShares spot Bitcoin ETF (IBIT) under BlackRock has reached a record asset size of $34.30 billion, surpassing the iShares Gold Trust (IAU) at $33 billion, driven by unprecedented demand. Since its launch in January of this year, the total inflow into IBIT has exceeded $27 billion, making it the fourth largest fund in the world in terms of inflows for 2024. However, IBIT still has a long way to go to catch up with the world's largest gold ETF, the SPDR Gold Shares (GLD), which currently has over $76 billion in assets.
Next news:The founder of a cryptocurrency mixing service known as Bitcoin Fog was sentenced to 150 months in prison for laundering tens of millions of dollars from darknet markets that sold illegal drugs.
Next news:Wushuo has learned that Ethereum co-founder Vitalik Buterin stated in his latest blog post "From prediction markets to info finance" that he has been a close supporter and follower of a certain prediction market this year, which is one of the most exciting applications of Ethereum for him. Vitalik pointed out that prediction markets can not only accurately predict election outcomes but can also be used in various fields such as scientific peer review and decentralized organization (DAO) governance, providing new ideas to address the trust crisis in modern society. Vitalik called for the expansion of information finance to more application scenarios to tackle the current issue of trust deficit in society, leveraging the cost advantages and scalability of blockchain technology to achieve this goal. He emphasized that the potential of information finance goes beyond simple prediction applications and is expected to become an important tool in areas such as governance, scientific research, and public fund allocation.
Next news:According to @EmberCN, Paradigm has transferred LDO for three consecutive days, with 11 million LDO (approximately 14.08 million USD) moved to Coinbase Prime 30 minutes ago. Since the increase on November 7, Paradigm has transferred a total of 26.12 million LDO (approximately 34.60 million USD) to Coinbase Prime from the 70 million LDO purchased from the Lido treasury, at an average price of 1.32 USD.
Next news:According to Wu's report, on-chain analyst @ai_9684xtpa has monitored that Tether transferred 632 million USDT to Cumberland DRW in the past 13 hours. In the last three days, the total amount of USDT transferred from Tether Treasury to DRW has reached 1.18 billion USDT. Cumberland DRW is one of the important market makers for Binance, with approximately 79% of the USDT issued to Cumberland being sent directly to Binance. Since November, nearly 3 billion ERC20 USDT have been newly issued.
Next news:According to Cointelegraph, the North Korean hacker group BlueNoroff is using a new malware attack targeting MacOS computers to focus on cryptocurrency companies. According to a report by SentinelLabs, the malware, codenamed "Hidden Risk," spreads through multiple stages via PDF files. Threat actors use fake news headlines and legitimate cryptocurrency market research to lure unsuspecting individuals and companies. Once a user downloads the PDF file, it downloads and opens a seemingly legitimate decoy PDF, while the malware is downloaded in the background as a separate file onto the MacOS desktop. This malware package contains multiple features designed to provide hackers with a backdoor for remote access to the victim's computer to steal sensitive information, including private keys for digital asset wallets and platforms.
Next news:According to Wu, CZ tweeted that as Bitcoin continues to set new historical highs, appropriate risk management should be taken. Many lows (and highs) will appear in the future. Make sure you can handle them. Control your greed. Don't put all your eggs in one basket. Take it slow.

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.