SoSo Daily Apr 6

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on April 6, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.54 trillion US dollars, witnessing a 0.366% increase compared to the previous day; the total trading volume is 68.67 billion US dollars, marking a decline of 35.5% from the previous day.

According to sosovalue, the price of $BTC is 68,094 USD, a decrease of 0.141% from yesterday. The market cap of $BTC is 1.34T USD, accounting for 52.7% of the total market cap; $BTC's 24-hour trading volume is 37.52B USD, making up 54.6% of the total trading volume.
The price of $ETH is 3,334 USD, up 0.228% from yesterday; the market cap of $ETH is 400.31B USD, representing 15.7% of the total market cap; $ETH's 24-hour trading volume is 14.94B USD, comprising 21.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 76.4% 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 23:55, the top five gainers are:
Top 1 gainer is SafeMoon. As of 23:55 today, its market cap is 66.37M, with a coin price of 0.00011923, witnessing a 24-hour increase of 39.6%.
The second is Mango. As of 23:55 today, its coin price is 0.020950, with a 24-hour increase of 37.9%.
The third is Multibit. As of 23:55 today, its coin price is 0.14000, showing a 24-hour increase of 33.5%.
In fourth place is Napoli Fan Token. As of 23:55 today, its coin price is 3.2940, with a 24-hour rise of 32.3%.
In fifth place is LUKSO. As of 23:55 today, its coin price is 5.2198, increasing by 31.3% 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, Meme sector has risen 3.04% relative to the UTC 0 time, led by gains in sfm (37%), rats (21.1%), and ordi (15.9%).
Payment sector has increased 2.22% relative to UTC 0, with xec (14.1%), bico (5.28%), and nim (4.99%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: Digital asset investments rebounded strongly in March, with $862 million inflows last week. Bitcoin led with $865 million in inflows, driven by new ETF issuers in the US. Ethereum saw its fourth consecutive week of outflows, while altcoins experienced inflows totaling $18.3 million. The US had inflows of $897 million, while Switzerland recorded the highest weekly outflows. Fidelity's FBTC and BlackRock's iBit were among the ETFs with net inflows. Grayscale's GBTC saw outflows, but the pace slowed down. Overall, net inflows into spot Bitcoin ETFs turned positive, with significant inflows into BlackRock's iBit and Fidelity's FBTC.
Next news: 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: Pantera Capital's crypto fund gained 66% in Q1, mainly benefiting from the promotion of small tokens such as Solana (SOL). The fund significantly reduced its exposure to Bitcoin and Ethereum tokens, according to a Bloomberg report on April 6. The gains of digital assets such as RBN, AEVO, and STX also contributed to the fund's first-quarter performance. Fund manager Cosmo Jiang mentioned that the fund's Bitcoin holdings have fallen by more than half in the past three months, attributing the shift to a strategic reduction in Bitcoin positions.
Next news: Genesis Trading has redeemed over $2.1 billion of GBTC shares in the past three weeks as part of its ongoing bankruptcy process. The company sold a significant amount of GBTC shares to acquire Bitcoin in an effort to repay its customers. Genesis has successfully completed the redemption of its Grayscale Bitcoin Trust (GBTC) shares, utilizing the proceeds to purchase 32,000 Bitcoins. The bankrupt crypto lending firm sold approximately 36 million shares of Grayscale Bitcoin Trust (GBTC) for $2.1 billion to purchase 32,041 Bitcoin as part of its debt settlement efforts.
Next news: Lawyers for the U.S. Securities and Exchange Commission (SEC) have concluded their case against Terraform Labs and its co-founder, Do Kwon, in New York. The case, now in the hands of a New York jury, revolves around allegations that Kwon and Terraform Labs misled investors about the stability of Terra USD (UST) and its integration with a Korean mobile payments app. According to BlockBeats, on April 6, Reuters reported that Terraform Labs and its founder Do Kwon were found guilty by a jury in a civil fraud case in the U.S. Federal Court in Manhattan. The U.S. Securities and Exchange Commission (SEC) accused them of misleading investors before the collapse of stablecoins shocked the cryptocurrency market in 2022. The SEC said they made misleading statements to investors about the stability of TerraUSD in 2021 and lied that Terraform's blockchain was used in a popular mobile payment application in South Korea. The judge will consider penalties in the coming weeks. A Terraform spokesperson said the company was disappointed with the ruling and said the SEC had no right to bring the case.
Next news: JPMorgan Chase remains optimistic about the US Securities and Exchange Commission (SEC) eventually approving the Ethereum spot ETF, despite earlier stating the probability of passing the preliminary review period in May was no more than 50%. Nikolaos Panigirtzoglou, Managing Director and Global Market Strategist at JPMorgan Chase, mentioned that if the ETF is not approved in May, a litigation process is expected to follow. He believes the SEC will likely lose this lawsuit, similar to the legal battle between Grayscale and Ripple last year, leading to the eventual approval of the Ethereum spot ETF, although probably not before May this year.
Next news: The Web3 social simulation game Today has successfully completed a $5 million seed round of financing. The round was led by Sfermion and Big Brain Holdings, with participation from GSR, Collab+Currency, Lingfeng Innovation Fund, Compute Ventures, Builder Capital, Tommy Tran, MetaVest Capital, 32 Bit Ventures, Dingaling, Grail, and Spirit DAO. The funds from this round will be used to further develop its generative AI-based intelligent NPC and code-free creator tools.
Next news: The Beijing police, in collaboration with the Beijing branch of the State Administration of Foreign Exchange, have cracked a series of complex virtual currency cases involving over 2 billion yuan across 15 provinces and cities. The cases involved hidden criminal methods, from dark web transactions to illegal foreign exchange trading. The investigation revealed the involvement of six members of an underground bank and a suspect named Yan Moumou, who was found using virtual currency for illegal transactions, particularly in selling private information of Chinese citizens. Simultaneous raids in Wenzhou, Nanjing, Beijing, and Harbin led to the arrest of all suspects and the seizure of over 20 mobile phones, more than 30 bank cards, and the identification of over ten virtual currency wallets used in the illegal transactions. The Beijing Municipal Public Security Bureau's Economic Crime Investigation Team emphasized that virtual currency-related business activities are considered illegal financial activities in China, highlighting the illegality of using virtual currency for cross-border transactions and foreign exchange.
Next news: A newly created address withdrew $2.67 million worth of Pendle from Binance 3 hours ago. According to BlockBeats, on April 6, according to Lookonchain monitoring, a newly created address withdrew $2.67 million worth of Pendle from Binance 3 hours ago. OKX market information shows that Pendle is currently quoted at $7.11, with a 24-hour increase of 23.85%.

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.