SoSo Daily Apr 11

As of 5:59 PM on April 11, 2024, the total market cap of the crypto market is 2.61 trillion US dollars, showing a 0.56% increase from the previous day. The 24-hour trading volume is 86.47 billion US dollars, indicating a decrease of 5.97% compared to the previous day.


According to sosovalue, the price of $BTC is 70,196 USD, an increase of 1.26% from yesterday. The market cap of $BTC is 1.38 trillion USD, accounting for 52.9% of the total market cap; $BTC's 24-hour trading volume is 38.38 billion USD, making up 44.4% of the total trading volume.
The price of $ETH is 3,511.8 USD, down 0.205% from yesterday; the market cap of $ETH is 421.66 billion USD, representing 16.2% of the total market cap; $ETH's 24-hour trading volume is 18.12 billion USD, comprising 21% 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 65.4% 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 17:55, according to the latest data, the top five gainers are:
Top 1 gainer is Pirate Chain (ARRR). As of 17:55 today, its market cap is 63.92M, with a coin price of 0.32578 USD, witnessing a 24-hour increase of 46.9%.
The second is Wagmi (WAGMI). As of 17:55 today, its coin price is 0.014114 USD, with a 24-hour increase of 45.8%.
The third is Ontology Gas (ONG). As of 17:55 today, its coin price is 0.54330 USD, showing a 24-hour increase of 33.5%.
In fourth place is Propy (PRO). As of 17:55 today, its coin price is 3.5828 USD, with a 24-hour rise of 31.9%.
In fifth place is CHEX Token (CHEX). As of 17:55 today, its coin price is 0.29220 USD, increasing by 28.7% 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 6.63% relative to the UTC 0 time, led by gains in gal (9.57%), berry (9.34%), and rfr (8.94%).
Layer2 sector has decreased -2.59% relative to UTC 0, with mnt (-4.71%), stx (-4.48%), and DYM (-3.94%) leading the decline.
DeFi sector has decreased -4.03%, with bel (-22%), uni (-19.1%), and rstk (-16.7%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin spot ETFs experienced significant outflows, with Grayscale's GBTC leading the way. However, other Bitcoin ETFs like Bitwise and ARK Invest recorded inflows. The overall sentiment for US Bitcoin spot ETFs remains positive, with nearly $1 billion in inflows over the past week. BlackRock's iBit and Fidelity's FBTC maintained their inflow streak. The outflows from GBTC reached a record low, while Fidelity FBTC saw significant net inflows. Glassnode analysis suggests that Bitcoin ETFs now comprise a significant portion of the Bitcoin spot market. Despite the outflows, Bitcoin's price rebounded after new US inflation data was released.
Next news: The US Securities and Exchange Commission (SEC) has issued a Wells notice to Uniswap, the leading decentralized exchange platform, indicating potential enforcement action. Uniswap's founder, Hayden Adams, expressed readiness to contest any claims and criticized the SEC for targeting platforms like Uniswap. The SEC's specific allegations were not disclosed, and Uniswap's legal team is preparing to challenge any enforcement action in court. The situation echoes a similar incident with Coinbase, which received a Wells notice over a year ago and is currently contesting SEC charges in court. Uniswap's native token, UNI, experienced a price drop following the news. The SEC's move is seen as part of a broader regulatory focus on the DeFi sector.
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: A whale withdrew $35.81 million worth of $ETH from Binance on April 10, according to @AI_9684XTPA monitoring. The whale accumulated 20,952 $ETH from Binance from March 31 to April 10, with an average transfer price of $3,463. A whale deposited 9,000 $ETH into Binance, equivalent to about 32.1 million US dollars. According to BlockBeats news and @AI_9684XTPA monitoring, the whale, who had previously built a position of 50,732 $ETH from September 19, 2023, to the present, made the deposit 10 minutes ago. The whale has transferred 8,600 $ETH from the trading platform at an average price of 3,146 in the past three months. If all are sold this time, he will make a profit of US$3.7 million; he currently still holds 29,000 $ETH, equivalent to US$105 million. On April 11, a significant cryptocurrency transaction was reported by BlockBeats, where a whale withdrew 6,838 Ethereum ($ETH) from Coinbase within a span of 6 hours. This amount of $ETH is valued at approximately 24.24 million US dollars. The transaction was highlighted by the data monitoring service, The Data Nerd, marking a notable movement in the cryptocurrency market. A whale withdrew 22,251 $ETH from CEX in the past hour, about 80.06 million US dollars. According to BlockBeats, on April 11, according to Lookonchain monitoring, the address starting with 0xACC7 (possibly Matrixport) withdrew 22,251 $ETH (about 80.06 million US dollars) from the trading platform in the past hour, and withdrew 33,925 $ETH (about 122 million US dollars) from the trading platform in the past 3 days.
Next news: Bitfinex Securities plans to issue $6.25 million in tokenized debt to build a Hilton Hampton hotel complex at the El Salvador International Airport. The issuance aims to raise funds to develop a 4,484 square meter hotel complex, offering a 10% coupon over a five-year period. The financing, starting on May 13, requires a minimum investment of $1,000.
Next news: Bitcoin's price movements from April 7 to April 11, including brief surges, rebounds, and dips.
Next news: Luno, a crypto trading platform, has obtained a license from the South African financial regulator, making it one of the first regulated crypto entities in the country. This development follows the South African regulators' decision to start accepting license applications from crypto companies after passing legislation in June 2023 to include cryptocurrencies in the scope of regulated financial activities.
Next news: Binance lists Bittensor (TAO) and adds seed tags. According to BlockBeats, on April 11, according to the official announcement, Binance will launch Bittensor (TAO) at 20:00 (Eastern Time) on April 11, 2024, and open the following spot trading pairs: TAO/BTC, TAO/USDT, TAO/FDUSD, TAO/TRY. Binance will list Bittensor (TAO) and open trading for these spot trading pairs at 2024-04-11 12:00 (UTC). Bittensor is a P2P machine learning protocol that incentivizes participants to train and operate machine learning models in a distributed manner. Binance, a leading cryptocurrency exchange, has announced the listing of Bittensor (TAO), a new digital asset, on its platform. The listing, which includes the application of a seed tag to TAO, is set to begin at 15:00 on April 11, 2024. Binance will introduce several new spot trading pairs for TAO, including TAO/BTC, TAO/USDT, TAO/FDUSD, and TAO/TRY. Users are encouraged to deposit TAO tokens before the trading launch to ensure a smooth trading experience. Withdrawals for TAO will be enabled from 15:00 on April 12, 2024. The listing fee for TAO is 0 BNB, highlighting Binance's commitment to fostering growth and accessibility in the cryptocurrency ecosystem. The addition of a seed label to TAO aims to enhance its functionality and utility within the Binance ecosystem, indicating a strategic move by Binance to optimize the trading environment and offer innovative solutions to its global user base. The inclusion of TRY, the fiat currency representing the Turkish Lira, among the trading pairs, provides users with more diverse options for trading and investment strategies.
Next news: Bitcoin experiences price fluctuations following the release of higher-than-expected U.S. inflation data, with the Consumer Price Index (CPI) for March exceeding estimates. The data has led to concerns about the Federal Reserve's interest rate decisions and has influenced Bitcoin's value, which dropped below $69,000. Traders are anxiously awaiting the CPI report, which could have a significant impact on the market. The upcoming Bitcoin halving event and its potential effects on Bitcoin's price are also being closely monitored.
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.

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.