SoSo Daily Mar 31

As of 5:59 PM on March 31, 2024, the total market cap of the crypto market is 2.66 trillion US dollars, showing a 0.649% increase from the previous day. The 24-hour trading volume is 64.10 billion US dollars, indicating a decrease of 22.4% compared to the previous day.

According to sosovalue, the price of $BTC is 70,228 USD, an increase of 0.314% from yesterday. The market cap of $BTC is 1.38 trillion USD, accounting for 51.8% of the total market cap; $BTC's 24-hour trading volume is 25.79 billion USD, making up 40.2% of the total trading volume.
The price of $ETH is 3,601.8 USD, up 2.46% from yesterday; the market cap of $ETH is 432.47 billion USD, representing 16.2% of the total market cap; $ETH's 24-hour trading volume is 13.63 billion USD, comprising 21.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 61.3% 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 17:55, the top five gainers are:
Top 1 gainer is OAX. As of 17:55 today, its market cap is 18.36M, with a coin price of 0.32910 USD, witnessing a 24-hour increase of 58.9%.
The second is VELA. As of 17:55 today, its coin price is 1.1121 USD, with a 24-hour increase of 44.8%.
The third is NUM. As of 17:55 today, its coin price is 0.16311 USD, showing a 24-hour increase of 32.3%.
In fourth place is CLO. As of 17:55 today, its coin price is 0.00032270 USD, with a 24-hour rise of 31.2%.
In fifth place is CORE. As of 17:55 today, its coin price is 1.6186 USD, increasing by 30.7% 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, RWA sector has risen 2.87% relative to the UTC 0 time, led by gains in gfi (20.7%), lcx (19.2%), and boson (17.5%).
$ETH sector has increased 2.46% relative to UTC 0, with $eth (2.46%) leading the rise.


Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: 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: 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.
Next news: ConsenSys defends Ethereum's Proof of Stake (PoS) security to the SEC and advocates for the approval of a spot Ethereum ETF. The parent company of MetaMask, ConsenSys, submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) in response to the agency's solicitation of opinions on the potential approval of the Ethereum ETF application. ConsenSys argued that Ethereum's PoS has strong built-in anti-fraud and anti-manipulation mechanisms that meet or exceed the security of Bitcoin's PoW. The company emphasized Ethereum's distributed verification process, high attack costs, environmental benefits, and other security advantages. ConsenSys hopes to pave the way for broader accessibility to decentralized finance (DeFi) and Web3 applications by engaging in constructive dialogue with regulatory bodies such as the SEC. The outcome of the SEC's deliberations will have a significant impact on the larger crypto markets, and the approval of a spot Ether ETF by the SEC in May remains uncertain, with Bloomberg ETF analysts estimating a 30% chance of approval.
Next news: HKVAEX will suspend services in stages from April 1, 2024, and close its official website on May 1, 2024. The platform will stop accepting new user registrations, virtual asset recharge services, and trading services. Existing spot orders will be automatically canceled. This action follows the withdrawal of HKVAEX's application for a virtual asset trading platform license submitted to the Hong Kong Securities and Futures Commission on March 29.
Next news: Roman Storm, a developer associated with the cryptocurrency mixer Tornado Cash, has filed a motion to dismiss the indictment against him, which involves allegations of crypto-laundering. Tornado Cash co-founder Roman Storm has also filed a motion to dismiss all charges against him, related to operating a money laundering business and violating the International Emergency Economic Powers Act. The charges involve Tornado Cash allegedly helping the North Korean Lazarus Group bypass U.S. sanctions. Storm pleaded not guilty and was released on a $2 million bond.
Next news: In March, the cryptocurrency and blockchain industry witnessed a total financing of over $1.4 billion, the highest monthly level since September 2022. The surge was driven by a significant increase in early-stage (Series A) investment cases, with more than 20 such cases recorded. John Dantoni, Director of Research at The Block, attributed this performance to the surge in early-stage investments, which jumped from nine cases in February to more than 20, aligning with the monthly average over the past year.
Next news: On March 30, well-known cryptocurrency trader Jordan Fish, also known as Cobie, announced the beta launch of his new crypto angel investor platform, Echo. The platform aims to unite crypto investors for collective investment in crypto projects. Currently, Echo is only accessible to self-certified qualified or sophisticated investors, with varying regional rules. Users must complete a detailed questionnaire upon registration to verify their eligibility. Echo is presently in an invitation-only phase, with invitations being sent to early applicants since March 28.
Next news: A trader spent 178.2 SOL to buy 4.41 billion MEW on March 26, with the current value reaching US$44 million. According to BlockBeats news, on March 31, according to Lookonchain monitoring, a trader spent 178.2 SOL ($35,000) on March 26 to purchase 4.41 billion MEW. Currently, 4.41 billion MEW are worth $44 million, with a return of 1,267 times.
Next news: Doodles co-founder Poopie (Jordan Castro) issued a meme coin named POOP, which is now quoted at $0.05 with a market value of over $50 million, according to BlockBeats news on March 30.

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.