SoSo Daily Apr 25

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 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 24 hours; 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 63,862 USD, a decrease of 4.07% from yesterday. The market cap of $BTC is 1.26 trillion USD, accounting for 52% 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 3,112 USD, down 5.18% from yesterday; the market cap of $ETH is 379.81 billion USD, representing 15.7% of the total market cap; $ETH's 24-hour trading volume is 9.25 billion USD, comprising 14% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 39.2% 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 11:55, according to the latest data, the top five gainers are:
Top 1 gainer is BLOCKv. As of 11:55 today, its market cap is 523.27K, with a coin price of 0.00015850, witnessing a 24-hour increase of 86.1%.
The second is SUIA. As of 11:55 today, its coin price is 0.18904, with a 24-hour increase of 39.1%.
The third is Shyft Network. As of 11:55 today, its coin price is 0.0091080, showing a 24-hour increase of 27.1%.
In fourth place is Chainflip. As of 11:55 today, its coin price is 3.3720, with a 24-hour rise of 27.1%.
In fifth place is PIP. As of 11:55 today, its coin price is 0.10834, increasing by 25.8% 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, SocialFi sector has fallen -9.19% relative to the UTC 0 time, led by declines in berry (-16%), rss3 (-13.8%), and xtm (-11%).
GameFi sector has decreased -10.1% relative to UTC 0, with nada (-17.1%), gf (-16.1%), and PIXEL (-15.2%) leading the decline.
AI sector has decreased -10.2%, with nos (-13.9%), fet (-13.8%), and num (-13.6%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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 arrested, with Hill being arrested in Portugal and US authorities seeking extradition. The DOJ also seized Samourai's web servers and domain. The wallet startup, known for its privacy-enhancing features, has faced criticism from regulators and has been removed from the Google Play Store. This case highlights the US government's increasing aggression toward crypto mixers, with previous actions taken against other services like Blender.io and Tornado Cash.
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 and the net asset ratio also varied across the reported days.
Next news: Morgan Stanley plans to promote Bitcoin ETFs to clients through its 15,000 brokers. Since obtaining regulatory approval in January, Morgan Stanley has provided Bitcoin ETFs but has not actively promoted them. This situation may change as the firm considers letting every client know about Bitcoin ETFs in a controllable way. Morgan Stanley may allow its 15,000 brokers to advise clients to buy spot Bitcoin ETFs. The company is currently laying the groundwork for tender purchases, including risk tolerance requirements and restrictions on allocations and trading frequencies. The Block
Next news: The Hong Kong Securities and Futures Commission has approved several Bitcoin and Ethereum spot ETFs from various fund companies, including China Asset Management, Harvest Global Investments, and Bosera International. These ETFs are set 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 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 in Hong Kong.
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: The U.S. Securities and Exchange Commission (SEC) has delayed its decision on multiple applications for spot Ethereum ETFs, including those from Franklin Templeton, Grayscale, and BlackRock. The delays have extended the review period for these applications, with deadlines ranging from June 11 to June 23. The SEC's postponement comes amid speculation on the final stance on spot Ether ETFs, with some analysts predicting denials for the current round of applications. This delay follows the SEC's recent approval of nearly a dozen spot Bitcoin ETFs, marking a significant shift in its approach to cryptocurrency ETFs. Industry analysts have adjusted their expectations for an Ether ETF approval in the U.S., with Bloomberg's Eric Balchunas lowering the likelihood from 70% to about 35%. Meanwhile, in Hong Kong, issuers have received approval to list spot Ethereum ETFs, highlighting a regulatory divergence between the U.S. and other financial hubs. Standard Chartered remains optimistic about Ethereum's price potential, forecasting a rally to $8,000 by year-end.
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: 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: 0x4359 (possibly #JustinSun) withdrew 15,389 $ETH($49.78M) from #Binance again 8 hours ago and he had bought 147,442 $ETH($469.9M) at $3,179 since Apr 8.
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.

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.