SoSo Daily Apr 18

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM on April 18, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.30 trillion US dollars, witnessing an increase of 3.46% compared to the previous 24 hours; the total trading volume is 90.69 billion US dollars, marking a decrease of 3.76% from the previous day.

According to sosovalue, the price of $BTC is 62,829 USD, an increase of 2.53% from yesterday. The market cap of $BTC is 1.24 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 41.12 billion USD, making up 45.3% of the total trading volume.
The price of $ETH is 3,039.6 USD, up 1.24% from yesterday; the market cap of $ETH is 364.97 billion USD, representing 15.9% of the total market cap; $ETH's 24-hour trading volume is 18.56 billion USD, comprising 20.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 65.8% 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 17:55, the top five gainers are:
Top 1 gainer is Metaverse.Network Pioneer (NEER). As of 17:55 today, its market cap is 4.27M, with a coin price of 0.11230 USD, witnessing a 24-hour increase of 44.2%.
The second is Berry (BERRY). As of 17:55 today, its coin price is 0.00056690 USD, with a 24-hour increase of 35.7%.
The third is Agility (AGILITY). As of 17:55 today, its coin price is 0.0054690 USD, showing a 24-hour increase of 35.4%.
In fourth place is ANGLE (ANGLE). As of 17:55 today, its coin price is 0.13514 USD, with a 24-hour rise of 31.4%.
In fifth place is Vara Network (VARA). As of 17:55 today, its coin price is 0.11931 USD, increasing by 29.2% 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, 14 are up and 1 is down. Notably, CeFi sector has risen 2.62% relative to the UTC 0 time, led by gains in crpt (36.8%), sclp (21.3%), and ngc (8.52%).
$BTC sector has increased 2.54% relative to UTC 0, with $btc (2.54%) leading the rise.
GameFi sector has risen 2.34%, with rfox (11.9%), prime (10%), and arty (8.38%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Binance announced the conversion of its Secure Asset Fund for Users (SAFU) to USDC, a stablecoin, to enhance reliability and stability. The fund, established in 2018, serves as an emergency insurance fund to protect Binance users in extreme situations. The conversion involves transferring the entire fund to USDC, aiming to maintain its value at $1 billion. This move is seen as a strategic response to regulatory and market challenges, potentially impacting the crypto market. The conversion to USDC is intended to increase the fund's credibility and ensure its stability. The SAFU fund now holds 1 billion USDC instead of previously held cryptocurrencies like $BTC, BNB, USDT, and TUSD. The conversion reflects a cautious stance on cryptocurrencies and a vote of confidence in USDC, potentially affecting $BTC and BNB prices in the short term.
Next news: US spot Bitcoin ETFs have experienced net outflows in recent days, coinciding with a stall in Bitcoin's price uptrend. The Grayscale Bitcoin Trust ETF (GBTC) has seen the most significant outflows, while other leading funds like BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) have had positive inflows. This shift in investor sentiment suggests increased caution and profit-taking amidst Bitcoin's price volatility and a slowdown in its positive momentum.
Next news: Bitcoin's price movements from April 14 to April 18, as reported by BlockBeats and OKX market data.
Next news: A whale increased its holdings by 3,278 $ETH at an average price of $3,050, and now holds more than 86,000 ETH. According to BlockBeats, on April 17, according to @EmberCN monitoring, 40 minutes ago, the whale who had been withdrawing $ETH and stablecoins from Binance recently spent 10 million USDT on the chain to buy 3,278 $ETH, with an average price of $3,050. The whale has been withdrawing $ETH and stablecoins from Binance since April 1, and has withdrawn 69,388 $ETH and 265.8 million stablecoins from Binance so far; On April 14, 70 million USDC was used to buy 23,790 $ETH on the chain (but 10,000 of them were sold more than ten hours later for a profit of $1.15 million); The whale currently holds 86,457 $ETH (about $262 million), with an average price of $3,170; and 217 million stablecoins.
Next news: Federal jurors in New York are deliberating the case of Avi Eisenberg, accused of manipulating the Mango Markets cryptocurrency exchange to steal $110 million. The prosecution argues that Eisenberg used fake trades of Mango's token, MNGO, to inflate futures contracts by 1,300% in 20 minutes, allowing him to borrow against those inflated values. The defense contends that Eisenberg's actions were within the rules of the platform. Avraham
Avi" Eisenberg faces trial for commodities fraud and manipulation after allegedly exploiting Mango Markets for $110 million in October 2022. The jury began deliberations on April 17 in the United States District Court for the Southern District of New York, following a two-week trial. Eisenberg, arrested in December 2022, could face up to 20 years in prison if found guilty. His defense claims the trading strategy was legal, while prosecutors allege fraud was involved. Eisenberg has returned $67 million of the exploited funds to Mango Markets but remains in custody, with civil actions by the SEC and CFTC pending the trial's outcome. Jury begins deliberations in $110M Mango Markets fraud trial. Crypto trader Avi Eisenberg’s fate now rests in the hands of 12 New York jurors, who have been tasked with deciding whether his October 2022 trades on Mango Markets – which netted him $110 million – were fair game or fraud. Crypto trader Avraham Eisenberg was convicted on Thursday in relation to trades he made in October 2022 to extract more than $100 million from Mango Markets, according to a report from Bloomberg. 28-year-old Eisenberg was charged with commodities fraud, wire fraud, and commodities manipulation. The trial lasted one week and took place just a few floors below where FTX founder Sam Bankman-Fried was sentenced last month. Eisenberg was arrested in Puerto Rico in December 2022. Prosecutors say he illegally made off with $110 million after manipulating Mango Market futures contracts and pumping the price of swaps by 1,000%. He then borrowed against the contracts and boarded a flight from Puerto Rico to Israel. The government says he was fleeing because he committed a crime, but Eisenberg’s defense team claims he was running after receiving numerous threats following his trades. The defense’s case focused on the structure of decentralized exchange Mango Markets, which, Eisenberg’s team says, allowed for the trades to take place. Eisenberg employed a “successful, legal trading strategy,” defense attorney Brian Klein told the jury Wednesday. In the government’s rebuttal, assistant US attorney Thomas Burnett said that the defense was trying to distract from the government’s claims. Crypto trader Avraham Eisenberg faces a pivotal moment in his trial for commodities fraud, commodities manipulation, and wire fraud, following his alleged manipulation of DeFi trading platform Mango Markets, resulting in a $110 million theft in October 2022. The jury deliberates his fate after closing arguments, with a verdict expected soon. Prosecutors accuse Eisenberg of exploiting lax KYC rules and manipulating market futures, while his defense claims his actions were legal within the volatile crypto market framework. The case, overseen by Judge Arun Subramanian, marks a significant moment in U.S. legal history, questioning the legality of crypto market manipulation. Additionally, the newsletter covers broader crypto market trends, including the upcoming Bitcoin halving, the growth of GameFi, and significant developments in blockchain technology.
Next news: MARKET NEWS: BINANCE IS READY TO PAY A FINE OF ABOUT $2 MILLION TO RETURN TO THE INDIAN MARKET
ACCORDING TO BLOCKBEATS, ON APRIL 18, ACCORDING TO MARKET NEWS, BINANCE IS READY TO PAY A FINE OF ABOUT $2 MILLION TO RETURN TO THE INDIAN MARKET. (JINSHI)
ACCORDING TO BLOCKBEATS, ON APRIL 18, ACCORDING TO MARKET NEWS, BINANCE IS READY TO PAY A FINE OF ABOUT $2 MILLION TO RETURN TO THE INDIAN MARKET. (JINSHI)
Next news: Worldcoin, founded by OpenAI CEO Sam Altman, launches World Chain, a new 'human-centric' blockchain network designed to prioritize human users, enhance efficiency, and foster real-world utility in Web3 applications. World Chain aims to address the issue of blockchain congestion caused by bots by prioritizing transactions for verified World ID holders, offering them a free gas allowance to reduce friction for newcomers. The network, which recently surpassed 10 million World IDs and 75 million transactions, is designed to scale alongside the Ethereum network as a Layer 2 solution. Worldcoin anticipates a full launch in the summer, following a series of changes including tightening privacy checks and making its Orb software open-source. The project has faced scrutiny from world governments over its privacy practices, leading to temporary bans in some countries.
Next news: Binance, a leading global cryptocurrency exchange, has obtained a Virtual Asset Service Provider license in Dubai, as announced by CEO Richard Teng on April 18. The company is currently in discussions regarding the location of its headquarters with relevant regions.
Next news: Bitcoin is facing pressure and struggles amidst mixed market sentiments. It has dropped below $60,000, triggering liquidations and corrections. Ethereum and altcoins are also experiencing volatility. The market downturn is attributed to geopolitical tensions and concerns about the halving event. Large Bitcoin investors have not started purchasing during this dip, indicating a potential continuation of the market correction.
Next news: Tether announces the establishment of four new independent business units: Data, Finance, Energy, and Education. Tether Data focuses on the development and strategic investment in emerging technologies like AI and peer-to-peer platforms. Tether Finance aims to promote technology and democratize the global financial system, being the cornerstone of Tether's traditional stablecoin products and financial services. Tether Power is involved in sustainable Bitcoin mining to ensure the integrity of the world's most powerful currency network. Lastly, Tether Edu is committed to expanding the popularity of global digital skills education.

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.