Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM 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 64,700 USD, a decrease of 0.292% from yesterday. The market cap of $BTC is 1.27T USD, accounting for 52.6% of the total market cap; $BTC's 24-hour trading volume is 16.60B USD, making up 25.2% of the total trading volume.
The price of $ETH is 3,161.3 USD, down 0.594% from yesterday; the market cap of $ETH is 385.83B USD, representing 15.9% of the total market cap; $ETH's 24-hour trading volume is 9.25B USD, comprising 14% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.5% 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 17:55, the top five gainers are:
Top 1 gainer is poundtoken. As of 17:55 today, its market cap is 133.14K, with a coin price of 1.2508 USD, witnessing a 24-hour increase of 66.6%.
The second is L7DEX. As of 17:55 today, its coin price is 2.4800 USD, with a 24-hour increase of 65.3%.
The third is SUIA. As of 17:55 today, its coin price is 0.21000 USD, showing a 24-hour increase of 50.7%.
In fourth place is BLOCKv. As of 17:55 today, its coin price is 0.00013519 USD, with a 24-hour rise of 44.4%.
In fifth place is Baby Doge Coin. As of 17:55 today, its coin price is 0.0000000022290 USD, increasing by 26.2% 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, 1 is up and 15 are down. Notably, AI, GameFi, and SocialFi sectors are worth mentioning.
AI sector has fallen 2.43% relative to the UTC 0 time, led by declines in nos (-12.2%), paal (-8.33%), and agi (-6.11%).
GameFi sector has decreased 2.62% relative to UTC 0, with SATOX (-15.5%), undead (-14.3%), and nada (-13.6%) leading the drop.
SocialFi sector has decreased 2.65%, with gal (-10.7%), rfr (-10.3%), and rss3 (-5.33%) 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 been accused of facilitating criminal activity. The founders face charges that carry a maximum sentence of 20 years for conspiracy to commit money laundering and 5 years for conspiracy to operate an unlicensed money transmitting business. This case is part of the US government's increasing scrutiny of crypto mixers and their developers, with previous actions taken against other services like Tornado Cash. The charges have sparked a debate on Bitcoin's privacy and its use in illicit finance, affecting Bitcoin's price in the market.
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: BlackRock's Bitcoin ETF has ended its 71-day streak of inflows, according to recent data. This slowdown in inflows has had a dampening effect on the ongoing Bitcoin bull run, indicating a potential shift in investor sentiment or market dynamics.
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: 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: 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: U.S. House Representative Maxine Waters (D-California), the top Democrat on the House Financial Services Committee, told Bloomberg Wednesday "We are on our way to getting a stablecoin bill in the short run.” After 22 months of negotiation, key Democrat Representative Maxine Waters predicts an imminent deal on legislation to regulate stablecoins, in collaboration with Republican Patrick McHenry. In a significant development for the cryptocurrency industry, US House Representative Maxine Waters, the top Democrat on the House Financial Services Committee, announced that the final version of the stablecoin bill could be ready for consideration soon. Waters expressed optimism about the progress being made toward enacting stablecoin legislation in the near future, stating, "We are on track to have a stablecoin bill in the short term." This announcement comes after Waters previously criticized one version of the stablecoin bill as "deeply problematic and bad for America." Emphasizing the importance of investor protection and asset support for stablecoins, Waters reiterated the need for robust regulatory measures to protect the interests of consumers and ensure the stability of the financial system. The possibility of advancing stablecoin legislation before the upcoming election has gained momentum, with recent weeks seeing increased activity in congressional debate and input from key stakeholders such as the Federal Reserve, the Treasury Department, and the White House shaping the outline of the bill.
Next news: Aligned Layer, a decentralized zero-knowledge proof verification layer for Ethereum developed based on EigenLayer, has completed a $20 million Series A funding round. The round was led by HACK VC, with participation from DAO5, L2IV, Nomad Capital, etc. The Aligned Layer mainnet is scheduled to launch in the second quarter of 2024, aiming to provide Ethereum with a new infrastructure for affordable zero-knowledge proof verification for all proof systems.
Next news: A yellow legal pad with
“Buy Bitcoin” scribbled on it, which became famous when flashed by an intern during Janet Yellen's 2017 congressional testimony, has sold for $1.027 million at auction. This event highlights the significant cultural impact of Bitcoin within the crypto community and marks a notable moment in cryptocurrency history.
According to BlockBeats, on April 25, Bloomberg reported that the "Buy Bitcoin" sign held up behind U.S. Treasury Secretary Yellen at the 2017 House Financial Services Committee meeting was auctioned for $1.027 million. The sign was sold by Christian Langalis, who plans to use the proceeds to fund a Bitcoin software project. Langalis, an intern at the Cato Institute, had grabbed a seat behind Yellen during the meeting in July 2017 and quickly wrote the message. After the slogan was photographed by a TV station, Langalis was expelled from the venue.
‘Buy Bitcoin’ sign that photobombed Janet Yellen sells for $1M
The original scrawled sign was auctioned off by “Bitcoin Sign Guy” Christian Langalis for 16 $BTC after apparently sitting in his sock drawer for years. A yellow notepad with “Buy Bitcoin” written on it, which was flashed behind then-United States Federal Reserve Chair Janet Yellen during a 2017 Congressional hearing, has sold at auction for 16 Bitcoin ( $BTC ) — over $1 million. The buyer, identified as “Justin” also known as “Squirrekkywrath,” was the winning bidder on the Bitcoin auction platform Scarce City. The auction ran for a week, ending on April 24, just after 11:00 PM UTC. The sign was offered up by Christian Langalis who wrote it out and flashed it to the camera after nabbing a seat behind Yellen at a televised House Financial Services Committee hearing in July 2017. Langalis was escorted out after photobombing Yellen as signs are not allowed to be displayed during hearings. CNBC reported at the time that after the sign was flashed, Bitcoin traded 3.7% higher, reaching over $2,418. After Scarce City takes its 15% fee, Langalis is set to pocket around $875,000, or 13.6 BTC. In a statement under the listing, Langalis said it was “good to finally liberate this number from my sock drawer and offer it back to the Bitcoin public.” Related: $1M Bitcoin price still in play amid ‘macro liquidity surge’ — Arthur Hayes The listing notes the page with the handwritten sign “was removed from the notepad shortly after the hearing” but was since “reattached with clear archival wire.” The yellow legal pad also contains “an unseen rough draft” of the now-iconic scrawl along with notes on the hearing monetary policy and Bitcoin. In 2019, Langalis created and sold 21 replicas of the sign which sold for an average price of 0.8 $BTC, worth about $51,300 today. The listing claims the replicas are displayed in the offices of venture firms Paradigm, Blockchain Capital and Castle Island Ventures along with the crypto think-tank Coin Center. Bloomberg reported that Langalis planned to use the money from the latest sale to help fund a Bitcoin software project. Magazine: Recursive Inscriptions — Bitcoin ‘supercomputer’ and $BTC DeFi coming soon
Next news: Bitcoin and Ethereum prices fluctuate in the cryptocurrency market. Bitcoin rebounds above $65,000, $66,000, and $67,000, while Ethereum rebounds above $3,200. However, Bitcoin also falls below $66,000 and $65,000. On April 25, Bitcoin recovers above $65,000 but reaches $64,000 again with a 3.5% drop in 24 hours. It briefly rebounds above $64,000 with a 3.95% decline in 24 hours.
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.