SoSo Daily Apr 25

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on April 25, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.42 trillion US dollars, witnessing an increase of 0.763% compared to the previous day; the total trading volume is 65.82 billion US dollars, marking a rise of 6.55% from the previous day.

According to sosovalue, the price of $BTC is 64,223 USD, a decrease of 3.76% from yesterday. The market cap of $BTC is 1.26 trillion USD, accounting for 52.3% of the total market cap; $BTC's 24-hour trading volume is 16.60 billion USD, making up 25.2% of the total trading volume.
The price of $ETH is 3,158.1 USD, down 3.04% from yesterday; the market cap of $ETH is 385.44 billion USD, representing 15.9% of the total market cap; $ETH's 24-hour trading volume is 9.25 billion USD, comprising 14% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is SUIA. As of 05:55 today, its market cap is 0E-8, with a coin price of 0.20154 USD, witnessing a 24-hour increase of 56.3%.
The second is Euler. As of 05:55 today, its coin price is 5.9170 USD, with a 24-hour increase of 23.2%.
The third is Chainflip. As of 05:55 today, its coin price is 3.0269 USD, showing a 24-hour increase of 20.5%.
In fourth place is Contentos. As of 05:55 today, its coin price is 0.017712 USD, with a 24-hour rise of 17%.
In fifth place is SuiPad. As of 05:55 today, its coin price is 0.098900 USD, increasing by 15.8% 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, GameFi, AI, and Meme sectors are worth mentioning.
GameFi sector has fallen -7.52% relative to the UTC 0 time, led by declines in nada (-21%), PORTAL (-15.3%), and ghx (-12.3%).
AI sector has decreased -7.61% relative to UTC 0, with nos (-14.6%), wld (-12.5%), and agi (-10.7%) leading the decline.
Meme sector has fallen -7.96%, with SLERF (-19.5%), coq (-15.4%), and mog (-15%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:US prosecutors seek a 36-month prison sentence for former Binance CEO Zhao Changpeng, according to court documents reported by BlockBeats on April 24. Attorneys with the U.S. Department of Justice and former Binance CEO Changpeng Zhao filed their sentencing memos on Tuesday night, suggesting that Zhao should spend 3 years in prison. Binance founder and former CEO Changpeng Zhao is expected to be sentenced on April 30 after pleading guilty to money laundering in November 2023. U.S. prosecutors have recommended a 36-month prison sentence for Zhao, citing his willful violation of U.S. laws against money laundering. The US Department of Justice recommended a 36-month prison sentence for Changpeng Zhao, the former CEO of Binance, the world's largest crypto exchange. The Department of Justice argues Binance founder Changpeng Zhao should serve 36 months in prison and pay a $50 million fine for violating US sanctions law. Federal prosecutors are pushing for a tougher 3-year prison term for Binance founder and former CEO Changpeng “CZ” Zhao in connection with his role in the global cryptocurrency exchange’s violation of sanctions and money laundering laws. The U.S. government has accused Binance founder Changpeng “CZ” Zhao of putting national security at risk for personal gain, recommending a double sentence of 36 months in prison for violating the Bank Secrecy Act. Former Binance CEO Changpeng Zhao apologizes for his actions ahead of sentencing, acknowledging poor decisions related to anti-money laundering and sanctions violations. Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues, and investors are determined for the crypto executive to escape incarceration entirely.
Next news: Harvest Global Investments Limited, China Asset Management (Hong Kong), and other fund companies have received approval from the Hong Kong Securities and Futures Commission (SFC) for the launch of Bitcoin and Ethereum spot ETFs. These ETFs are expected to be listed and traded at the end of April, providing a regulated framework for retail and institutional investors to invest in virtual assets. The approval of these ETFs in Hong Kong is significant and could potentially lead to more progressive regulation in China and the region. However, mainland investors are currently not allowed to participate in the trading of these ETFs.
Next news: The Department of Justice (DOJ) has arrested the founders of the privacy-focused crypto wallet Samourai on charges of money laundering and operating an unlicensed money transmitting service. The DOJ alleges that Samourai Wallet executed over $2 billion in transactions unlawfully and laundered over $100 million in criminal proceeds. The founders, CEO Keonne Rodriguez and CTO William Lonergan Hill, were charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. The U.S. government is seeking the extradition of Hill from Portugal, and the company's servers and domain were seized. The app, which has been downloaded more than 100,000 times, has been removed from the Google Play Store. This case highlights the U.S. government's increasing aggression toward crypto mixers, with previous actions taken against other services like Blender.io and Tornado Cash.
Next news: CZ, the founder and former CEO of Binance, submitted a letter of apology to the judge overseeing his case, taking full responsibility for his actions and promising to establish necessary compliance controls at Binance. This move comes alongside 161 letters of appeal from various individuals across different industries, including notable figures such as former U.S. Ambassador to China Max S. Baucus, and professionals from academia and the business sector, all showing support for CZ.
Next news: According to various sources, Bitcoin spot ETFs experienced significant net inflows and outflows on different days, with Grayscale's ETF GBTC and Fidelity's ETF FBTC being the key players. The total net asset value of Bitcoin spot ETFs stands at around $55.72B to $55.82B, with the ETF net asset ratio reaching 4.25% to 4.27%. The historical cumulative net inflow has reached $12.29B to $12.42B. BlackRock's iBit ETF and ARK Invest's ARKB also recorded notable net inflows. Additionally, there were reports of net outflows and a day of $0 inflows for some ETFs.
Next news: A survey by KPMG found that 75% of Canada's institutions owned crypto assets in 2023, indicating a significant increase in the holdings of cryptocurrencies by institutional investors located in Canada. 39% of Canada's institutional investors have exposure to crypto, according to a KPMG survey. The survey, which received 65 responses, shows a significant increase in crypto exposure among Canada-based institutional investors in 2023 compared to the last bull run. Nearly 40% reported having direct or indirect exposure to crypto assets, up from 31% in KPMG's 2021 study. One-third of the institutional investors have allocated 10% or more of their portfolios to crypto assets, up from a fifth two years ago. Kunal Bhasin, a partner at KPMG Canada, suggests that rising debt and increasing inflation have likely attracted institutional investors into crypto as an alternative asset class that acts as a debasement hedge and a reliable store of value. The survey also found that a large majority of investors cited a maturing market and improved custody infrastructure as key reasons behind investing in crypto assets, while increased client demand for crypto asset services was a key factor for financial firms expanding their offerings. Canada's approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in February 2021 and the recent approval of spot Bitcoin ETFs in the United States were highlighted as significant developments. The report found that half of the institutional investors surveyed have crypto asset exposure through Canadian ETFs, close-ended trusts, or other regulated products, while 58% have exposure through the stock market. More institutional investors are also receiving exposure through derivatives markets, now at 42% compared to 2021's 14%. However, exposure through venture capital or hedge fund firms fell to 25% from 2021's 29%. According to a survey report by KPMG on April 25, 39% of Canadian institutional investors surveyed said that they had invested directly or indirectly in crypto assets in 2023, while this proportion was only 31% in 2021. At the same time, one-third of institutional investors have allocated 10% or more of their portfolios to crypto assets, compared with only one-fifth two years ago. In addition, half of the institutional investors surveyed have exposure to crypto assets through Canadian ETFs, closed-end trusts, or other regulated products, while 58% of institutional investors have exposure to crypto assets through stock markets (such as Galaxy Digital on the Toronto Stock Exchange).
Next news: Bitcoin and Ethereum prices fluctuate in the cryptocurrency market. Bitcoin rebounds above $65,000, $66,000, and $67,000, with varying 24-hour changes. Ethereum also rebounds above $3,200. The price movements are based on OKX market data reported by BlockBeats from April 22 to April 25.
Next news: ZK blockchain gaming ecosystem Tevaera completes $5 million financing, led by Laser Digital. The round saw participation from HashKey Capital, Fenbushi Capital, Matter Labs, Draper Dragon, Faculty Group, Crypto.com Capital, Cogitent Ventures, Selini Capital, DWF Labs, etc. Tevaera plans to launch two new games and the first decentralized L3 game chain on zkSync. Last year, Tevaera attracted over 850,000 'soul-bound' players through its multiplayer game Teva Run, Guardian NFT, and Teva Market.
Next news: Upbit's market share in South Korea exceeds 80%, and its global CEX ranking rises to fifth. According to BlockBeats, on April 25, Bloomberg reported that Upbit's trading volume accounted for more than 80% of South Korea's total trading volume, and its global CEX ranking rose to fifth, on par with Coinbase. Simon Seojoon Kim, CEO of South Korean venture capital firm Hashed, said that the reserve system required by South Korean regulators is costly for existing and new entrants, but resource-rich trading platforms like Upbit will find it easier to meet the new standards.
Next news: The spot Bitcoin and Ethereum ETFs, jointly issued by HashKey Capital and Bosera International, will be available for trading on April 30. This follows recent approvals by the Hong Kong Securities and Futures Commission for both HashKey Capital and Bosera Fund to expand their services in virtual asset management. HashKey Capital has been approved to provide virtual asset fund product services to retail investors, while Bosera Fund has received approval to offer asset management services related to virtual assets.

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.