SoSo Daily Apr 11

As of 11:59 PM on April 10, 2024, the total market cap of the crypto market is 2.63 trillion US dollars, showing a 24-hour change of 1.37%; the total trading volume is 96.04 billion US dollars, with a 24-hour change of -2.98%.

According to sosovalue, the price of $BTC is 70,631 USD, an increase of 2.15% from yesterday. The market cap of $BTC is 1.39T USD, accounting for 52.9% of the total market cap; $BTC's 24-hour trading volume is 36.49B USD, making up 38% of the total trading volume.
The price of $ETH is 3,545.1 USD, up 1.1% from yesterday; the market cap of $ETH is 425.66B USD, representing 16.2% of the total market cap; $ETH's 24-hour trading volume is 18.89B USD, comprising 19.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 57.7% 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 SUKU. As of 23:55 today, its market cap is 65.31M, with a coin price of 0.28373 USD, witnessing a 24-hour increase of 138%.
The second is FARM. As of 23:55 today, its coin price is 102.67 USD, with a 24-hour increase of 36.5%.
The third is MNGO. As of 23:55 today, its coin price is 0.03934 USD, showing a 24-hour increase of 35.7%.
In fourth place is BSCPAD. As of 23:55 today, its coin price is 0.17356 USD, with a 24-hour rise of 29.5%.
In fifth place is HOPR. As of 23:55 today, its coin price is 0.17216 USD, increasing by 27.8% 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, 9 are up and 7 are down. Notably, CeFi sector has risen 4.29% relative to the UTC 0 time, led by gains in ox (16%), troy (9.1%), and shx (8.15%).
Meme sector has increased 3.8% relative to UTC 0, with meme (18.4%), turbo (13.1%), and sfm (7.82%) leading the rise.
$BTC sector has risen 2.15%, with $btc (2.15%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin's price movements from April 7 to April 11, including brief surpasses, rebounds, dips, and recoveries.
Next news: The US Securities and Exchange Commission (SEC) has issued a Wells notice to Uniswap, the largest decentralized exchange in the cryptocurrency world. Uniswap's founder, Hayden Adams, expressed disappointment but readiness to fight, asserting that Uniswap's offerings are legal and on the right side of history. The SEC's specific allegations were not disclosed, and their representative declined to comment. Uniswap's Chief Legal Officer, Marvin Ammori, criticized the notice as an abuse of power. Uniswap Labs, the creator of the largest decentralized exchange on Ethereum, has received a Wells notice from the US Securities and Exchange Commission (SEC), indicating a potential enforcement action against the company. Uniswap's CEO, Hayden Adams, remains committed to blockchain technology's potential in the US despite regulatory challenges. Uniswap, one of the world's leading DeFi protocols, has received an enforcement notice from the U.S. Securities and Exchange Commission (SEC), citing concerns that the DEX may be operating as an unregistered securities broker and exchange. Uniswap's CEO, Hayden Adams, expressed a mixture of annoyance and disappointment in his response, but also showed a readiness to contest the SEC's charges. Uniswap's Chief Legal Officer, Marvin Ammori, has pointed to a recent court ruling in favor of Coinbase in a separate SEC case as a potentially positive precedent for Uniswap. However, the specifics of the charges the SEC intends to bring against Uniswap remain unclear, with the company's legal team preparing to challenge any enforcement action in court.
Next news: Bitcoin experiences a drop in price following the release of higher-than-expected U.S. CPI data, with the annual CPI exceeding expectations at 3.5%. The market is anxiously awaiting the U.S. inflation data, which could significantly influence the Federal Reserve's interest rate decisions. Bitcoin's value has dipped below $69,000, and traders are cautious ahead of the inflation data release. The upcoming inflation reading could influence the U.S. Federal Reserve's decision on interest rates, with a soft reading potentially leading to a rate cut in the first half of 2024. The drop in Bitcoin's price is attributed to the U.S. CPI data release and the overall state of the U.S. economy. Additionally, the upcoming Bitcoin halving event is generating speculation about its potential impact on Bitcoin's price.
Next news: The upcoming Bitcoin halving event, expected to occur around April 19, 2024, is anticipated to significantly transform the cryptocurrency landscape. This event will halve the block reward from 6.25 $BTC to 3.125 $BTC, aiming to create a more stringent supply landscape as part of Bitcoin's deflationary approach. Historically, halving events have led to substantial price surges in Bitcoin, with the upcoming halving expected to potentially set new all-time highs. The approval of spot Bitcoin ETFs and the influx of institutional capital into the market have also significantly impacted the demand for Bitcoin, potentially exacerbating the effects of the halving. Additionally, the emergence of a robust derivatives market and shifts in miner behavior suggest a changing dynamic in the Bitcoin ecosystem. The long-term outlook for Bitcoin remains positive, with its role as a digital gold and a hedge against inflation being reinforced by halving events and evolving market dynamics.
Next news: Leading fund companies, including Harvest Fund and Southern Fund, are using their Hong Kong subsidiaries to apply for and deploy Bitcoin ETFs. The Hong Kong Securities Regulatory Commission is considering applications for Bitcoin spot ETFs, and industry insiders predict that these applications may be implemented as early as the second quarter of this year. This move comes as a result of severe restrictions on cryptocurrency trading and mining in mainland China, prompting asset managers to seek opportunities in Hong Kong. The approval of these ETFs would provide Hong Kong investors with exposure to Bitcoin and contribute to the city's efforts to become a global fintech hub. The Hong Kong Securities and Futures Commission is fast-tracking the approval process for Bitcoin spot ETFs, with the first batch set to be approved by April 15, signaling a significant advancement in cryptocurrency investment in the region.
Next news: Grayscale's GBTC experienced a significant net outflow of approximately $303.3 million on April 9, according to data from Farside Investors reported by BlockBeats. In contrast, Bitwise's BITB and ARK Invest's ARKB recorded net inflows of $40.3 million and $9.3 million, respectively. Meanwhile, the latest data for BlackRock's IBIT and Fidelity's FBTC have not been released yet.
Next news: First Digital Trust's stablecoin FDUSD is expanding to the Sui blockchain in an effort to increase adoption in the decentralized finance (DeFi) field. FDUSD has reached a market value of $3.3 billion since its launch, making it the fourth largest stablecoin. The expansion follows its availability on Ethereum and BNB Chain. Sui, developed by the team behind Meta's closed Diem crypto project, has seen rapid growth in DeFi activities.
Next news: A major project in the cryptocurrency world, EigenLayer, has announced its mainnet launch. EigenLayer, an Ethereum restaking protocol, allows users to re-stake validators' Ethereum stakes locally or through liquid staking tokens, allocating these funds to economically secure third-party protocols. About a year ago, Eigen Labs closed a $50 million Series A funding round led by Blockchain Capital, with participation from Coinbase Ventures and Polychain Capital. The project is also expected to organize a token airdrop event, although no new developments regarding this were mentioned in the official statement. EigenLayer's platform enables users to borrow Ethereum's security for startup blockchain protocols by allowing them to re-stake $ETH in a larger pool, which is then used to secure other networks called Actively Authenticated Services (AVSs), which can include blockchain bridges, exchanges, or oracles.
Next news: Bitcoin mining machine manufacturer Auradine has successfully completed an $80 million Series B financing round, with participation from Maverick Capital and others. The California-based company, founded in 2022, launched the Teraflux Bitcoin mining machine last November. CEO Rajiv Khemani revealed that the company initially aimed to raise $70 million but was oversubscribed due to high investor interest, leading to a mix of $60 million in equity and $20 million in debt. The demand for Teraflux machines is strong, with $80 million in reservations and an order pipeline exceeding $200 million. This follows Auradine's $81 million Series A financing round last May, led by Celesta Capital and Mayfield, with participation from Cota Capital, DCVC, and Stanford University.
Next news: WOOX announces its partnership with Wintermute and GMCI to launch three types of index perpetual contracts—GMCI 30, GMCI L2, and GMCI Memes. The GMCI 30 index covers the top 30 crypto assets by market capitalization, such as $ETH, $BTC, SOL, and BNB; the GMCI L2 index monitors leading Layer 2 blockchain technologies; and the GMCI Memes index tracks top Memescoin.


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.