SoSo Daily Mar 31

As of 2 PM Hong Kong time on March 31, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.67 trillion US dollars, witnessing a 0.706% increase compared to the previous day; the total trading volume is 62.47 billion US dollars, marking a decline of 16.1% from the previous day.

According to sosovalue, the price of $BTC is 70,381 USD, an increase of 0.544% from yesterday. The market cap of $BTC is 1.38 trillion USD, accounting for 51.9% of the total market cap; $BTC's 24-hour trading volume is 25.79 billion USD, making up 41.3% of the total trading volume.
The price of $ETH is 3,617.7 USD, up 2.29% from yesterday; the market cap of $ETH is 434.38 billion USD, representing 16.3% of the total market cap; $ETH's 24-hour trading volume is 13.63 billion USD, comprising 21.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 63.1% 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 23:55 today, its market cap is 18.22M, with a coin price of 0.32650 USD, witnessing a 24-hour increase of 46.8%.
The second is CORE. As of 23:55 today, its coin price is 1.8689 USD, with a 24-hour increase of 41.6%.
The third is BDT. As of 23:55 today, its coin price is 0.000053000 USD, showing a 24-hour increase of 34.2%.
In fourth place is NUM. As of 23:55 today, its coin price is 0.16997 USD, with a 24-hour rise of 33.3%.
In fifth place is ADP. As of 23:55 today, its coin price is 0.0055909 USD, increasing by 29.1% 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 2.74% relative to the UTC 0 time, led by gains in pendle (17.9%), gfi (14.7%), and pro (13.8%).
Meme sector has increased 2.43% relative to UTC 0, with tips (8.84%), sats (5.4%), and ordi (5%) leading the rise.
$ETH sector has risen 2.29%, with $eth (2.29%) 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: 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: BlockBeats News reported on March 31 that Bitwise, the latest applicant for a spot Ethereum ETF, hopes the U.S. SEC will postpone approval until December. Matt Hougan, Chief Investment Officer of Bitwise, believes the asset management industry is too focused on Bitcoin products and cannot provide adequate support for Ethereum. The booming development of ETFs provides necessary attention. Bitwise's spot $BTC ETF currently ranks fifth in CoinTucky Derby, with over $2 billion in assets under management.
Next news: Binance CEO Richard Teng visits South Korea to discuss improving GOPAX governance structure and resolving the issue of access to South Korea. Binance acquired GOPAX at the end of 2022 to enter the Korean market, but financial authorities have not accepted GOPAX's virtual asset business change report, hindering market entry. Teng aims to communicate with financial authorities, including the Financial Intelligence Unit (FIU), and discuss measures to improve governance structures and adopt strategies to rescue GOPAX. Binance recently hired a government official from the financial regulatory authority to focus on improving GOPAX's governance structure.
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: LQTY rose more than 19% in 24 hours, temporarily trading at $1.863. According to BlockBeats, on March 31, according to OKX market data, LQTY briefly broke through $1.9 and then fell back. It is currently quoted at $1.863, with a 24-hour increase of 19.04%.
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: Sartoshi, the founder of cc0 NFT mfers, launched mfercoin on the Base network early this morning and airdropped it to mfer NFT holders. mfercoin’s market capitalization has exceeded $300 million, and its trading volume has exceeded $76 million. The floor price of mfer NFT increased by more than 60% in the past 24h to more than 0.6 ETH.
Next news: Richard Bernstein's View on Economic Indicators, Stock Market, Bitcoin, and Inflation

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.