Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on February 18, 2024, according to sosovalue, the total market cap of the crypto market stands at 1.95 trillion US dollars, witnessing a decrease of 0.0775% compared to yesterday; the total trading volume is 58.94 billion US dollars, marking a decline of 22.6% from the previous day.
According to sosovalue, the price of $BTC is 51,804 USD, a decrease of 0.343% from yesterday. The market cap of $BTC is 1.02T USD, accounting for 52.3% of the total market cap; $BTC's 24-hour trading volume is 24.85B USD, making up 42.2% of the total trading volume.
The price of $ETH is 2,786.1 USD, down 0.163% from yesterday; the market cap of $ETH is 334.79B USD, representing 17.2% of the total market cap; $ETH's 24-hour trading volume is 16.92B USD, comprising 28.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 70.9% 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 SOMESING Exchange. As of 05:55 today, its market cap is 83.59M, with a coin price of 0.023230 USD, witnessing a 24-hour increase of 65.7%.
The second is Horizen. As of 05:55 today, its coin price is 11.880 USD, with a 24-hour increase of 40.8%.
The third is Humans.ai. As of 05:55 today, its coin price is 0.015252 USD, showing a 24-hour increase of 34.9%.
In fourth place is Artificial Liquid Intelligence. As of 05:55 today, its coin price is 0.033012 USD, with a 24-hour rise of 32.7%.
In fifth place is Ocean Protocol. As of 05:55 today, its coin price is 0.68950 USD, increasing by 30% over the last 24 hours.
Moving on, let's take a look at the sector performance in crypto market.
Acccording to sosovalue, out of 15 sectors, 13 are up and 2 are down. Notably, AI sector has risen 5.46% relative to the UTC 0 time, led by gains in ali (35.1%), heart (31.6%), and ocean (28.6%).
DePIN sector has increased 3.25% relative to UTC 0, with ocean (28.6%), lpt (26.5%), and ela (24.1%) leading the rise.
Socialfi sector has risen 2.2%, with ssx (52.1%), rss3 (18.7%), and audio (7.97%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection, has announced its acquisition of Proof, a significant player in the NFT space. This acquisition includes Proof Collective and popular collections such as Moonbirds, Oddities, Mythics, and the Grails exhibition series. The move is aimed at bolstering Yuga Labs' vision of becoming the 'front door of Web3,' as stated by CEO Daniel Alegre. By integrating Proof's assets, team, and intellectual property into its ecosystem, Yuga Labs seeks to enhance its offerings and solidify its position in the digital art and blockchain community. A notable part of this acquisition is the incorporation of the Moonbirds collection into Otherside, Yuga Labs' metaverse project, which is designed as a collaborative space for content creators, communities, and brands. Kevin Rose, CEO and founder of Proof, expressed enthusiasm for Moonbirds' new home, anticipating a fruitful future for the collection's collectors within the Otherside metaverse. This integration highlights Yuga Labs' commitment to fostering digital fine art and community engagement. Additionally, Yuga Labs has a history of strategic acquisitions and partnerships, including Roar Studios for the Otherside metaverse and the Web3 ecosystem WeNew, along with its flagship NFT collection, 10KTF. These moves, along with partnerships with brands like Louis Vuitton and Gucci, showcase Yuga Labs' aggressive expansion strategy and its dedication to building a cohesive, interoperable digital world.
Next news: FTX creditors have filed a class action lawsuit against the law firm Sullivan and Cromwell, accusing the firm of having close ties with FTX before its collapse and therefore being partially responsible for its actions. The lawsuit alleges that the law firm was aware of FTX's operations and ultimately supported its fraudulent behavior. FTX creditors are seeking damages against the law firm Sullivan & Cromwell for its prior involvement with the crypto exchange. FTX bankruptcy case has unfolded to a new chapter as the exchange’s creditors have filed a class-action lawsuit against the law firm overseeing the case. In a court filing on Feb. 16, FTX creditors alleged that law firm Sullivan & Cromwell, also known as S&C, “actively” participated in the “FTX Group’s multibillion dollar fraud,” asserting that the company benefited financially from FTX’s fraud. “S&C knew of FTX US and FTX Trading Ltd.’s omissions, untruthful and fraudulent conduct, and misappropriation of class members’ funds. Despite this knowledge, S&C stood to gain financially from the FTX Group’s misconduct and so agreed, at least impliedly, to assist that unlawful conduct for its own gain.” The lawsuit seeks damages for a number of counts, including civil conspiracy, aiding and abetting fraud, and aiding and abetting fiduciary breaches. Sullivan & Cromwell is the century-old law firm overseeing the FTX bankruptcy proceedings. Previously, the firm reportedly served as outside counsel to the exchange in several deals, including FTX’s bid for the assets of Voyager Digital Holdings and the acquisition of LedgerX, receiving significant payments for its services. In the current bankruptcy case, S&C’s fees are estimated to reach hundreds of millions of dollars. The relationship between FTX and the law firm was forged by Ryne Miller, a former partner at S&C who joined the FTX Group as general counsel in August 2021. Miller allegedly channeled at least 20 cases from FTX to his former law firm. “Mr. Miller informed me that it was very important for him personally to channel a lot of business to S&C as he wanted to return there as a partner after his stint at the debtors,” said former FTX chief regulatory officer Daniel Friedberg in another court filing. The complaint also notes that former FTX CEO Sam Bankman-Fried would often work in S&C’s offices in New York, “so close was the relationship” between the companies. In a previous statement to Cointelegraph, a spokesperson for the law firm denied any wrongdoing, saying S&C had “never served as primary outside counsel to any FTX entity” and had a “limited and largely transactional relationship with FTX and certain affiliates prior to the bankruptcy”. S&C’s potential conflict of interest with the bankruptcy case has been scrutinized before. In January 2023, a bipartisan group of United States senators wrote to the judge calling for an independent examiner, claiming the law firm was “not in a position to uncover the information needed to ensure confidence in any investigation or findings.
Next news: Pudgy Penguins' floor price exceeds BAYC, currently trading at 22.65 ETH. According to BlockBeats news on February 17th, based on Blur market data, the floor price of Pudgy Penguins is currently at 22.65 $ETH, with a 24-hour increase of 13.71%, which is higher than the floor price of 22.55 $ETH for BAYC series NFT.
Next news: Solana has integrated with Filecoin to utilize its decentralized storage services. Filecoin announced on the X platform that it has completed integration with Solana. Solana will utilize Filecoin to enable infrastructure providers, explorers, indexers, and anyone who needs historical access to more easily access and use its block history. Filecoin will make Solana's block history more accessible to infrastructure providers, explorers, indexers, and any user who needs historical access, and to achieve data scalability by use Filecoin’s decentralized storage capabilities and enhanced security. Solana and Filecoin have announced a partnership aimed at enhancing decentralized storage solutions. This collaboration marks a significant milestone in the blockchain industry, signaling a shift towards more robust and decentralized storage options. By combining their strengths, Solana and Filecoin aim to revolutionize how data is stored and accessed within blockchain networks, enhancing security, accessibility, and reliability for users and developers. Solana plans to leverage Filecoin's decentralized storage capabilities to improve its blockchain infrastructure, aiming for data redundancy, scalability, and heightened security measures. The partnership also extends beyond their individual platforms, impacting the entire blockchain sector by driving innovation and adoption. This collaboration sets the stage for future advancements in decentralized technology, highlighting the importance of continued collaboration and integration among blockchain projects for fostering interoperability and seamless integration of technologies. Solana has announced its integration with Filecoin, marking a significant partnership that aims to enhance data accessibility, transaction speed, and network performance for Solana. This collaboration leverages Filecoin's decentralized data storage and processing capabilities to improve Solana's block history accessibility and usability for various Web3 infrastructure providers, including block explorers and indexers. The integration is expected to achieve new milestones in data redundancy, scalability, and security without compromising decentralization. Following the announcement, Filecoin's price surged over 10% to multi-week highs above $6.4. Solana Labs founder Anatoly Yakovenko praised Filecoin's decentralized archive layer, emphasizing its importance for tech developers and Web3 enthusiasts across different ecosystems. The partnership also involves Triton One, an RPC infrastructure provider, facilitating the integration between Solana and Filecoin.
Next news: US prosecutors have urged a judge to accept a plea deal involving Binance Holdings Ltd., which pleaded guilty to anti-money laundering and sanctions violations. The company agreed to pay $4.3 billion in penalties, marking one of the largest criminal penalties in US history. Prosecutors highlighted that Binance willfully violated the nation’s economic sanctions laws, leaving the financial system vulnerable to exploitation. U.S. prosecutors are pushing for a plea deal in the Binance case, which could lead to one of the largest criminal penalties in U.S. history. The plea agreement involves Binance being monitored for up to five years. Former CEO Changpeng Zhao has pleaded guilty to charges of money laundering and neglecting to uphold an anti-money laundering policy. Binance has agreed to pay $4.3 billion in fines and restitution to resolve the Department of Justice's investigation into violations of the Bank Secrecy Act, failing to register as a money-transmitting business, and the International Emergency Economic Powers Act. This resolution also involves coordinated efforts with the U.S. Commodity Futures Trading Commission, the Office of Foreign Assets Control, and the Department of the Treasury's Financial Crimes Enforcement Network. US prosecutors are urging a federal judge to accept a $4.3 billion plea deal with Binance Holdings Ltd. for anti-money laundering (AML) and sanctions violations, marking one of the largest criminal penalties in US history. The plea includes provisions for monitoring Binance for up to five years to ensure compliance. Binance's former CEO, Changpeng Zhao, pleaded guilty to AML charges and faces up to 10 years in prison, with expectations for a shorter sentence under the plea agreement. The sentencing for Zhao has been postponed until late April 2024. Amid these developments, Binance aims to restore trust among customers and regulators, with new CEO Richard Teng at the helm. The outcome of Binance's legal troubles and its efforts to address regulatory concerns will significantly impact the future of the cryptocurrency industry.
Next news: CoinShares reported a record inflow of $1.1 billion into digital asset investment products last week, with Bitcoin accounting for 98% of the inflows. The newly launched spot Bitcoin ETFs in the United States saw net inflows of $1.1 billion, bringing the total inflows since their launch to $2.8 billion. Ethereum and Cardano also saw inflows due to growing investor confidence. The total inflow into digital asset investment products since the beginning of the year is $2.7 billion, with assets under management reaching $59 billion.
Next news: VanEck and ARK/21Shares have updated their application documents for a spot Ethereum ETF, according to BlockBeats news on February 17th. VanEck submitted a revised S-1A document, and ARK/21Shares submitted a new 19B-4 document along with a series of new analytical explanations for their spot Ethereum ETF, as reported by Bloomberg analysts Eric Balchunas and James Seyffart. VanEck has updated its S1-A filing for a spot Ethereum ETF with the SEC, as the race for such products intensifies. The SEC is currently reviewing several applications for spot Ethereum ETFs, including those from major firms like BlackRock and Grayscale Investments. The SEC's concerns about Ethereum's transition to a proof of stake mechanism and potential market manipulation have led to delays in approval. However, experts believe there is a 60% chance of approval by May, especially after SEC Commissioner Hester Peirce's optimistic comments. The spot Bitcoin ETF market, approved in January, has already seen significant growth, with AUM surpassing $10 billion.
Next news: 83 new wallets, suspected to belong to the same institution, have withdrawn a total of 11,097,687 LINK tokens, equivalent to approximately $216.4 million USD, from Binance over the past two weeks. According to BlockBeats news on February 17th, Lookonchain monitoring reported that in the past two weeks, 83 new wallets (possibly belonging to the same organization) have withdrawn a total of 11,097,687 LINK tokens (equivalent to 216.4 million USD) from Binance.
Next news: A smart whale spent 8.58M $USDT to buy 166 $WBTC at $51,797 today. The whale bought 4,913 $ETH($13.7M) at an average price of $1,262 and 186 $WBTC($9.64M) at an average price of $17,346 between Dec 13 and Dec 20, 2023, the profit is ~$13.9M at the current price.
Next news: Celsius has announced that its qualified creditors have claimed over $2 billion worth of Bitcoin and Ethereum. The claims were made through channels such as PayPal, Venmo, and Coinbase. The team is exploring solutions to restrict the mailing of US dollar checks and will allow some creditors to choose to receive fund distributions through wire transfers. Previously, Celsius had announced that US dollar-denominated claim distributions would be issued and mailed to some creditors.
Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.xyz, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.