SoSo Daily Apr 5

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on April 6, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.53 trillion US dollars, witnessing a decrease of 0.0372% compared to yesterday; the total trading volume is 97.41 billion US dollars, marking an increase of 1.29% from the previous day.

According to sosovalue, the price of $BTC is 67,538 USD, a decrease of 0.369% from yesterday. The market cap of $BTC is 1.33T USD, accounting for 52.5% of the total market cap; $BTC's 24-hour trading volume is 37.52B USD, making up 38.5% of the total trading volume.
The price of $ETH is 3,321.6 USD, up 0.000301% from yesterday; the market cap of $ETH is 398.82B USD, representing 15.8% of the total market cap; $ETH's 24-hour trading volume is 14.94B USD, comprising 15.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 53.8% 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 05:55, according to sosovalue, the top five gainers are:
Top 1 gainer is SafeMoon. As of 05:55 today, its market cap is 59.96M, with a coin price of 0.00010773, witnessing a 24-hour increase of 30.9%.
The second is QuarkChain. As of 05:55 today, its coin price is 0.017438, with a 24-hour increase of 30%.
The third is Contentos. As of 05:55 today, its coin price is 0.016030, showing a 24-hour increase of 27.9%.
In fourth place is Picasso. As of 05:55 today, its coin price is 0.012139, with a 24-hour rise of 25%.
In fifth place is Napoli Fan Token. As of 05:55 today, its coin price is 3.1610, increasing by 23.6% 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, SocialFi sector has risen 5.53% relative to the UTC 0 time, led by gains in cos (28.3%), ton (7.07%), and cyber (2.27%).
AI sector has decreased 3.02% relative to UTC 0, with dsla (-9.81%), dbc (-9.51%), and clore (-9.13%) leading the decline.
RWA sector has decreased 3.36%, with vsys (-37.8%), mpl (-8.91%), and trvl (-8.47%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to BlockBeats, on April 5, Bloomberg ETF analyst Eric Balchunas posted on social media that BlackRock updated the prospectus for its Bitcoin ETF, adding many new authorized participants, including Citadel, Goldman Sachs, UBS, and Citigroup, which participated for the first time. The update signifies that now large companies want to participate, or are now willing to be publicly associated with it.
Next news: FTX's bankruptcy administrators have sold about two-thirds of the Solana token reserves worth about $2.6 billion at a significant discount, attracting participation from industry giants like Galaxy Trading to Pantera Capital. The sale of 25 to 30 million locked SOL tokens at $64 each could raise up to $1.9 billion for FTX's property. FTX's bankruptcy administrators have sold roughly two-thirds of a $2.6 billion hoard of Solana tokens in a deeply discounted deal that drew industry heavyweights from Galaxy Trading to Pantera Capital. The FTX estate sold between 25 million and 30 million locked-up SOL coins at $64 apiece, raising as much as $1.9 billion for the estate. SOL was trading at around $172 on Friday, down 6.5%. Bloomberg: FTX estate sold between 25 million and 30 million locked Solana (SOL) coins to companies including Galaxy Trading and Pantera Capital for $64 each ($174 now). Galaxy raised $620 million to buy discounted SOL. Pantera Capital raised $250m. FTX bankruptcy administrators sold approximately $1.6 billion worth of locked Solana (SOL) tokens to firms including Galaxy Trading and Pantera Capital at $64 per token. The sale involved between 25 million and 30 million locked SOL tokens, which are currently locked and will be gradually offered for sale within four years. Galaxy Trading, an arm of Mike Novogratz's company Galaxy Digital, has raised about $620 million in a fund it set up to buy SOL from FTX. This fund will charge a 1% management fee from investors and offer returns through staking. Eva Weng, Chief Investment Officer at crypto market creator Caladan, commented on the sale, noting the trade-off between locking up capital for four years for a significant price discount. The Solana price moved after the news was announced. FTX bankruptcy administrators led by FTX CEO John J. Ray III have successfully sold a significant portion of their Solana (SOL) token holdings, raising approximately $1.9 billion for the FTX estate. This sale, which involved between 25 million and 30 million locked-up SOL coins priced at $64, represents a substantial 63% discount from SOL’s prices at the time, which hovered around $172. The sale was part of an effort to liquidate FTX estate’s sale of 41 million locked Solana worth roughly $7.2 billion, announced earlier last month and attracted major industry players like Galaxy Trading and Pantera Capital. Pantera Capital, a prominent crypto-focused asset manager with assets totaling $5.2 billion, capitalized on the opportunity to acquire heavily discounted Solana tokens, aiming to purchase up to $250 million worth of SOL tokens from the estate at a discount of 39%. Similarly, Galaxy Trading also embarked on a fundraising campaign to secure a portion of the locked Solana tokens from the estate, raising $620 million. Neptune Digital was the first entity to publicly reveal its acquisition of the locked Solana tokens from the FTX estate last month, obtaining 26,964 SOL at a 67% price discount. The firm disclosed that 20% of this acquisition will become accessible in March 2025, while the remaining portion will unlock incrementally on a monthly basis until 2028. The sale marks a significant milestone in the cryptocurrency industry, with the estate’s creditors standing to benefit from the substantial funds raised. It also comes just days after FTX founder Sam Bankman-Fried was handed down a 25-year jail sentence by a New York court for fraud. Meanwhile, Friday’s sale garnered a positive reception from the crypto community. SOL rebounded from losses earlier in the day when its price briefly dipped to $169. The cryptocurrency traded at $175.37 at press time, reflecting a 6.82% drop in the past 24 hours.
Next news: U.S. NON-FARM PAYROLLS IN MARCH WERE 303,000, COMPARED WITH EXPECTATIONS OF 200,000
ACCORDING TO BLOCKBEATS, ON APRIL 5, THE SEASONALLY ADJUSTED NON-FARM PAYROLLS IN THE UNITED STATES IN MARCH WERE 303,000, WHICH WAS EXPECTED TO BE 200,000 AND THE PREVIOUS VALUE WAS 275,000. (JINSHI)
ACCORDING TO BLOCKBEATS, ON APRIL 5, THE SEASONALLY ADJUSTED NON-FARM PAYROLLS IN THE UNITED STATES IN MARCH WERE 303,000, WHICH WAS EXPECTED TO BE 200,000 AND THE PREVIOUS VALUE WAS 275,000. (JINSHI)
Next news: US regulators are seeking civil financial penalties against Do Kwon and Terraform and banning them from the securities industry. A lawyer for the U.S. Securities and Exchange Commission (SEC) told a jury in Manhattan that Terraform Labs and its founder Do Kwon repeatedly lied about the success of the cryptocurrency platform as their case for allegedly defrauding investors drew to a close. The regulator is seeking civil financial penalties against Do Kwon and Terraform and an order to ban them from the securities industry.
Next news: Bitcoin's price movements and market recovery from April 4-5, 2022.
Next news: The Solana network is currently experiencing a high failure rate of transactions, with data indicating that approximately 75% of non-vote transactions are failing. This surge in failed transactions coincides with a significant increase in activity on the network, largely attributed to the recent meme coin craze. Despite the alarming statistics, some proponents argue that the data is being misinterpreted, suggesting that the majority of these failed transactions are due to bot spam rather than genuine user transactions. Dune Analytics data from April 4 shows this record-high failure rate. The situation has sparked complaints from users about the network's performance and concerns over the user experience. Helius CEO Mert Mumtaz contends that the issue is not as severe for users as it appears, attributing most of the failed transactions to bots attempting arbitrage. He also mentioned that upcoming network upgrades are unlikely to resolve these issues immediately, indicating that challenges with the user experience may persist. Meanwhile, the price of Solana (SOL) has seen a slight decline in the past week, following a significant rally in the previous month.
Next news: Bitcoin investment products ended March with inflows of $865M amid renewed interest. Digital asset investments rebounded strongly, with $862 million inflows last week, nearly offsetting the previous week's $931 million outflows. The last week of March saw a positive shift in sentiment for digital asset investment products, with inflows reaching $862 million. Despite this, ETF activity is slowing down, with daily trading turnover now at $5.4 billion, a 36% decline from its peak. However, this figure is still significantly higher than the 2023 average of $347 million. Bitcoin led with $865 million in inflows, driven by new ETF issuers in the US, counterbalanced by Grayscale's outflows of $967 million. Short-Bitcoin products saw outflows for the second consecutive week, totaling $2 million. Ethereum continued its negative streak with its fourth consecutive week of outflows, amounting to $19 million. Altcoins experienced inflows totaling $18.3 million last week, with Solana dominating with $6.1 million in inflows. Other notable altcoins seeing inflows included Filecoin, Polkadot, and Chainlink. Investment products designed for Cardano, XRP, and Litecoin also noted modest inflows. The US experienced inflows of $897 million, while Switzerland recorded the highest weekly outflows of $15.6 million, followed by Germany and Sweden. Europe and Canada collectively witnessed outflows of $49 million, catapulting its year-to-date outflows to $785 million. Brazil and Australia settled for $2.9 million and $1.4 million in inflows respectively.
Next news: Uniswap, a decentralized exchange, has surpassed $2 trillion in all-time trading volume, marking a significant milestone five and a half years after its launch in November 2018. This achievement comes just 24 months after reaching the $1 trillion milestone. Uniswap's trading volume now exceeds the GDP of countries like Australia, Brazil, and South Korea. The platform supports several blockchains, including Ethereum, Polygon, Optimism, Arbitrum, Celo, BNB Chain, Base, Blast, and the Avalanche Network. Uniswap Labs celebrated this milestone by offering $200 in USD Coin to the first person to record and send a video showing the trading volume reaching $2 trillion. Despite increased competition in the decentralized exchange (DEX) space, Uniswap remains the largest DEX by trading volume, with $21.6 billion traded over the last week alone. PancakeSwap and Curve are among its closest competitors.
Next news: Australian asset management company Monochrome has applied to CBOE Australia for a spot Bitcoin ETF. If approved, this could be the first spot Bitcoin ETF in Australia that allows direct holding of Bitcoin. The CEO of Monochrome Asset Management expects a response from CBOE Australia in the middle of the year.
Next news: South Korea is set to issue new guidelines to enforce stricter supervision on the listing of tokens on centralized exchanges (CEX). The guidelines will potentially block tokens from projects that have been hacked and have unresolved security issues from being listed on local trading platforms. Additionally, foreign token projects may be required to prepare specific white papers for the local market to be listed on domestic platforms. Tokens listed on licensed platforms for over two years may be exempt from these new standards. The guidelines also propose delisting cryptocurrencies if issuers fail to disclose accurate information, such as discrepancies in actual circulation quantity. The South Korean government is currently gathering feedback from local trading platforms and plans to issue these guidelines later this month.

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.