SoSo Daily Mar 30

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on March 31, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.63 trillion US dollars, witnessing an increase of 0.332% compared to the previous 24 hours; the total trading volume is 69.11 billion US dollars, marking a decline of 19.2% from the previous day.

According to sosovalue, the price of $BTC is 69,726 USD, a increase of 0.339% from yesterday. The market cap of $BTC is 1.37 trillion USD, accounting for 52.1% of the total market cap; $BTC's 24-hour trading volume is 25.79 billion USD, making up 37.3% of the total trading volume.
The price of $ETH is 3,505.1 USD, up 0.525% from yesterday; the market cap of $ETH is 420.86 billion USD, representing 16% of the total market cap; $ETH's 24-hour trading volume is 13.63 billion USD, comprising 19.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 57% 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 OAX. As of 05:55 today, its market cap is 21.07M, with a coin price of 0.37770 USD, witnessing a 24-hour increase of 84.5%.
The second is RSC. As of 05:55 today, its coin price is 0.60483 USD, with a 24-hour increase of 38.9%.
The third is BERRY. As of 05:55 today, its coin price is 0.00071590 USD, showing a 24-hour increase of 35%.
In fourth place is CEL. As of 05:55 today, its coin price is 0.36820 USD, with a 24-hour rise of 33.5%.
In fifth place is KRL. As of 05:55 today, its coin price is 1.1890 USD, increasing by 32.9% 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 15 sectors, 13 are up and 2 are down. Notably, RWA sector has risen 4.2% relative to the UTC 0 time, led by gains in polyx (21%), cpool (15.4%), and boson (13.6%).
Meme sector has decreased -2.18% relative to UTC 0, with kishu (-8.79%), sfm (-6.6%), and corgiai (-6.2%) leading the decline.
DePIN sector has decreased -2.35%, with wnt (-17.1%), hopr (-10.7%), and ator (-6.31%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:On March 29, the number of transactions on the Base network reached 2.275 million, transaction volume of DEX reached $730 million. The market value of network stablecoins increased by 55% to more than $1.1 billion, both hit record highs; active users on that day reached 383,000, the second highest level in history. On March 30, according to BlockBeats news and Dune data, the Base Network recorded a record high of 2.27 million transactions on March 29. The total number of addresses now stands at 5.5 million, with the network generating total revenue of $38.02 million and a profit of $20.47 million. According to BlockBeats, on March 30, based on DeFiLlama data, the transaction volume of Base Network DEX reached $657 million on March 29, setting a record high.
Next news: An address spent 0.4 $ETH to buy 16.07 million MFER, achieving nearly 1,000 times the profit within 10 hours. According to BlockBeats news, on March 30, according to Lookonchain monitoring, a certain address spent 0.4 $ETH (approximately $1,400) to buy 16.07 million MFER and sold 14.5 million MFER at a price of 286 $ETH (approximately $1 million). There are currently 1.58 million MFER left, worth $396,000. Made $1.4 million in just 10 hours, a 995x gain.
Next news: ConsenSys defends Ethereum's PoS security to the SEC. ConsenSys submitted a comment letter to the SEC, advocating for the approval of a spot Ethereum ETF, emphasizing Ethereum’s security features. The letter detailed the security advantages of Ethereum's Proof of Stake (PoS) mechanism, emphasizing its potential benefits for investors and the broader financial market. ConsenSys argued that Ethereum PoS has strong built-in anti-fraud and anti-manipulation mechanisms that meet or exceed the security of Bitcoin’s Proof of Work (PoW), and Bitcoin based on PoW has been approved through spot ETFs. ConsenSys also highlighted Ethereum’s distributed verification process, high attack costs, and environmental benefits. The outcome of the SEC's deliberations will have a significant impact on the larger crypto markets.
Next news: FARCASTER DEVELOPER CLOSES IN ON FUNDING LED BY PARADIGM, VALUING IT AT $1 BILLION
BLOCKBEATS NEWS, ON MARCH 31, BLOOMBERG REPORTED, CITING PEOPLE FAMILIAR WITH THE MATTER, THAT FARCASTER DEVELOPER MERKLE MANUFACTORY IS ABOUT TO COMPLETE A ROUND OF FINANCING LED BY PARADIGM, WITH A VALUATION OF APPROXIMATELY US$1 BILLION.

FORMER COINBASE VICE PRESIDENT AND MERKLE CO-FOUNDER DAN ROMERO CONFIRMED ON MARCH 29 THAT THE STARTUP WAS RAISING FUNDS BUT DID NOT SPECIFY THE AMOUNT.
Next news: Huang Licheng pledged 156,000 SOL raised for meme project BobaOppa into BlazeStake, exchanging it for 139,556.77 bSOL valued at approximately $31.13 million. The fundraising address still holds 96 wSOL, 70 SOL, and 2727 USDC, totaling $36,000 in value. Additionally, the BobaOppa project is set to distribute tokens to early supporters, with the announcement made on March 30. The distribution is scheduled to start approximately 1 hour later, around 15:10. Huang Licheng emphasized fairness for early supporters, although the criteria for being an 'early supporter' were not disclosed.
Next news: A wallet that had been dormant for 11.7 years transferred all 500 $BTC($34.78M) to multiple new wallets.

This wallet received 500 $BTC($3,786 at the time) on Jul 14, 2012, when the price of $BTC was only $7.57.

Address:
1LUDXsAT6fQypinRbqVKatMiAbv6o9HjBc
Next news: PENDLE CO-CREATION: THE TEAM CAN NO LONGER ACCESS THE OFFICIAL PENDLE X ACCOUNT, USERS PLEASE ACT WITH CAUTION
BLOCKBEATS NEWS, ON MARCH 30, PENDLE JOINT VENTURE @TN_PENDLE POSTED ON SOCIAL MEDIA THAT IT HAS BEEN CONFIRMED THAT THE TEAM HAS LOST ACCESS TO THE @PENDLE_FI TWITTER/X ACCOUNT. THE TEAM IS CURRENTLY INVESTIGATING THIS ISSUE AND USERS ARE ASKED TO EXERCISE CAUTION AND IGNORE ANY POSTS OR MESSAGES FROM @PENDLE_FI UNTIL ADDITIONAL WORD FROM THE OFFICIAL TEAM. NO FUNDS ARE CURRENTLY AT RISK.
Next news: Base chain meme currency Mfer briefly exceeded $0.22, with an increase of over 1,736% in 6 hours. According to BlockBeats news, on March 30, according to market information, the meme coin Mfer issued by the founder of Mfer NFT briefly exceeded US$0.22 this morning and is now quoted at US$0.162, with an increase of 1,736% in the past 6 hours.
Next news: The Prisma Finance attacker, identified by an address starting with 0x2D4, may be a white hat hacker and has contacted the project team for a refund, claiming the attack was a 'white hat rescue'. This communication occurred on March 29, following a report by BlockBeats on March 28 that the attack on Prisma Finance was ongoing, with losses amounting to about $9 million. The attacker's funding source was identified as FixedFloat. Prisma Finance responded to the attacker's message, directing them to contact [email protected] for further discussions. The Prisma Finance attackers left messages for the project team, indicating their intention to transfer funds to a safer location. According to BlockBeats news and Cyvers Alerts system monitoring on March 29, the attackers posed questions about smart contracts, their audits before deployment, and the developers' responsibilities. They claimed their actions were aimed at raising awareness about the importance of serious contract audits, developers' attitudes towards their work, and project responsibilities. Prisma Finance's hacker, who stole $11.6 million from the decentralized finance (DeFi) protocol, claims the exploit was a
“whitehat rescue” and is enquiring who to contact to refund the funds, according to on-chain messages. A white hat hacker tries to find security vulnerabilities in software code using their hacking skills. Six hours following the Prisma Finance hack, the attacker sent a message claiming it was a “whitehat rescue” aimed at helping the platform, according to blockchain analytics firm Etherscan. The attacker then inquired how to return the funds to the protocol using the address “0x2d4…7507a,” previously identified as one of those linked to the attack. In response, about two hours later, Prisma Finance provided contact information for negotiations. According to estimates by blockchain security firm PeckShield, 3,257.7 $ETH was stolen and sent to three separate addresses. Despite the claim of good intentions, blockchain security firm Cyvers mentioned that the attacker swapped the stolen funds for Ether ($ETH) shortly after the message. PeckShield also later detected a transfer of around 200 Ether to OFAC-sanctioned Tornado Cash, a cryptocurrency mixer known for obscuring transactions and funding sources, which is often used for illicit activities. In response to the exploit, Prisma Finance has halted its DeFi protocol and is currently investigating the root cause of the attack. The move impacted the platform, with the total value locked on their protocol plunging from $220 million to $107 million, according to DeFiLlama. According to Immunefi, a Web3 security firm, over $200 million in crypto has already been lost to hacks and scams in the first two months of 2024 across 32 individual incidents. In 2023, there was a total loss of $1.8 billion to hacks and scams, with 17% linked to the North Korean Lazarus Group. Most funds lost were due to hacks rather than fraud. Only $103 million was lost from clearly identifiable fraud schemes, such as rug pulls, while over $1.6 billion was lost from hacks and exploits. Of these losses, $1.3 billion occurred in protocols claiming to be decentralized, while only $409 million was lost from centralized finance (CeFi) crypto protocols. In response to these developments, the Prisma governance token (PRISMA) experienced a 30% drop to $0.244 after the news. However, it has since rebounded to $0.28, according to data from CoinGecko, down 35% over the last week. The Prisma Finance attackers asked the team to hold a public online press conference to apologize and admit that the attackers were not responsible in this incident. According to BlockBeats news, on March 30, the Prisma Finance attacker chain once again left a message to the project team expressing dissatisfaction with the team’s handling of the problem. The attacker denied that his behavior constituted malicious behavior, emphasizing that his transaction behavior was no different from other users and complied with the terms stipulated in the smart contract. The attacker required the Prisma Finance team to hold a public online press conference. All team members were required to show identification and issue an apology and thanks to all users, investors and the attacker himself. In addition, the attackers asked the team to clearly describe the mistakes made, the third-party organization that audited the smart contract, and future plans to improve security measures. The attackers also gave the team 12 hours to change the accusatory language in the incident report and admit that the attackers had no responsibility in the incident. He said that he was just helping the team correct errors and hoped that this incident would encourage teams in the DeFi field to be more responsible. Finally, the attacker expressed that he was looking forward to the team’s online conference and would discuss the specific amount of returned funds after the meeting. One of the wallets tied to the hack of Prisma Finance, a liquid staking protocol that was exploited for $11 million on Mar. 28, has claimed to be a "white-hat" hacker. This individual has expressed interest in returning the funds to the protocol, but with conditions. The hacker demands that the Prisma Finance team hold an online press conference, publicly identify themselves, apologize to users and investors, and praise the hacker for their cooperation. The hacker criticizes the Prisma team for their oversight and suggests that the press conference could serve as a lesson to the decentralized finance (DeFi) community. They also mentioned that the amount to be returned would be discussed after the conference, assuring that most of it would be returned. However, the hacker's transfers of over $2.5 million in Ether to the blockchain mixing service Tornado Cash have raised doubts about their intentions. Prisma Finance has paused the protocol and published a post-mortem on the attack, focusing on recovering users' funds and ensuring the safety of all positions before unpausing the protocol. Prisma Finance has not yet responded to the hacker's demands.
Next news: Bitfinex investigating platform performance issues and halts trading temporarily. Maintenance nears completion, platform to return in view-only mode with order cancellation option at 2:40 AM UTC, trading at 2:45 AM UTC.

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.