As of 11:59 PM on April 27, 2024, the total market cap of the crypto market stands at 2.36 trillion US dollars, showing a 0.445% increase over the last 24 hours; the total trading volume is 56.25 billion US dollars, indicating a decrease of 10.5% from the previous day.
According to sosovalue, the price of $BTC is 63,462 USD, a decrease of 0.483% from yesterday. The market cap of $BTC is 1.25 trillion USD, accounting for 53% of the total market cap; $BTC's 24-hour trading volume is 23.30 billion USD, making up 41.4% of the total trading volume.
The price of $ETH is 3,255.6 USD, up 3.97% from yesterday; the market cap of $ETH is 397.34 billion USD, representing 16.9% of the total market cap; $ETH's 24-hour trading volume is 11.15 billion USD, comprising 19.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 61.2% 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 23:55, the top five gainers are:
Top 1 gainer is Golem. As of 23:55 today, its market cap is 492.30M, with a coin price of 0.49230 USD, witnessing a 24-hour increase of 28.8%.
The second is DSLA Protocol. As of 23:55 today, its coin price is 0.00078740 USD, with a 24-hour increase of 25.7%.
The third is Guild of Guardians. As of 23:55 today, its coin price is 0.31300 USD, showing a 24-hour increase of 24%.
In fourth place is Samoyedcoin. As of 23:55 today, its coin price is 0.0088950 USD, with a 24-hour rise of 21%.
In fifth place is Helium. As of 23:55 today, its coin price is 4.1690 USD, increasing by 20% 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, $ETH sector has risen 3.97% relative to the UTC 0 time, led by gains in $eth (3.97%).
Layer2 sector has increased 3.08% relative to UTC 0, with op (12.5%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Taiwan prosecutors seek 20-year prison sentences for suspects involved in the Ace Exchange case. The recommendation for such severe sentences is justified by the increased scale of the losses incurred. This move indicates the seriousness with which the authorities are treating the case, highlighting the significant financial impact it has had. Taiwan has filed a new round of charges against David Pan, founder of crypto exchange ACE, and 31 other suspects for alleged money laundering and fraud, recommending a minimum 20-year prison sentence for the four main suspects. Prosecutors estimate that more than 1,200 people were defrauded of an estimated $24.56 million. Taiwan prosecutors are recommending a minimum 20-year prison sentence for the four main suspects in the fraud and money laundering case related to the cryptocurrency trading platform ACE Exchange. The Taipei District Prosecutors’ Office indicted 32 people, including ACE Exchange founder David Pan, his business partner Lin Keng-Hong, and prominent attorney Wang Chen-Huan. Over 1,200 individuals were deceived, with losses now estimated at 800 million New Taiwan Dollars (US$24.56 million), up from the previously estimated 340 million New Taiwan Dollars ($10.6 million). The prosecutors also recommended at least 12 years for Wang, considering his role. In January 2024, Taipei City Police arrested Pan and 14 others, revealing Pan’s association with the fraudulent crypto wallet service known as “Alfred” or “Afu Wallet,” and a related crypto card. The suspects promoted investments in various tokens, leading to significant losses for investors. A Taiwanese court ruled that the defendant’s property should be seized, with some assets already confiscated. ACE Exchange, in response, stated that Pan’s fraudulent activity was not related to the platform’s operations.
Next news: According to BlockBeats, on April 27, DTCC (Depository Trust & Clearing Corporation) released a new document stating that starting from April 30, 2024, as part of the annual update of the credit line, DTCC will implement changes to modify the collateral value of certain securities, which may affect the position value applied in the collateral monitor. The changes include adjusting the collateral valuation of corporate notes or bonds rated B1 to B3 from 50% to 70% and excluding any ETF or other investment vehicle that includes Bitcoin or any other cryptocurrency as the underlying collateral from having any collateral value, subjecting them to a 100% valuation discount. DTCC settled the vast majority of securities transactions in the United States. The notice released on April 26 states that exchange-traded funds and similar investment instruments with Bitcoin or other cryptocurrencies as underlying assets will not be assigned any collateral value, resulting in a 100% reduction in their collateral value. However, it is clarified that this would only apply to inter-entity settlement within the line of credit (LOC) system, and using cryptocurrency exchange-traded funds for lending and as collateral in brokerage activities will continue without impact, depending on individual brokers' risk tolerance. The introduction of spot Bitcoin ETFs has spurred increasing institutional interest in this investment product, with all United States Bitcoin ETFs accumulating over $12.5 billion in assets under management (AUM) within three months of their launch. However, overall inflows have recently slowed down, with significant outflows reported in spot Bitcoin ETFs. Grayscale's GBTC ETF saw a notable single-day outflow of $82.4197 million, and the current historical net outflow for GBTC totals a substantial $17.185 billion.
Next news: Bitcoin spot ETFs experienced significant net outflows in the past few days, with Grayscale's GBTC seeing the largest outflow. Fidelity's FBTC and Valkyrie's BRRR also recorded outflows, while Franklin's EZBC had a net inflow. The total net outflows reached $218 million, $217.58 million, and $83.61 million on different days. These outflows indicate a shift in investor sentiment and reallocation of holdings in the cryptocurrency market.
Next news: According to BlockBeats, on April 27, DTCC data revealed that the spot Ethereum ETF 'Franklin Ethereum TR Ethereum ETF' (code EZET), launched by asset management company Franklin Templeton, has been listed on the DTCC (U.S. Securities Depository and Clearing Corporation) website. The create/redeem column for this ETF shows 'Y'. Franklin Templeton's spot Ethereum ETF, EZET, is now listed on the DTCC, awaiting the SEC's decision amidst growing frustration. Franklin Templeton has launched its Ethereum ETF, named the Franklin Ethereum TR Ethereum ETF and coded as EZET, listed on the DTCC. The listing on the DTCC does not imply SEC approval for the S-1 filing for a spot Ether ETF. The asset management firm submitted the S-1 filing to the SEC on February 12, aiming for approval to list the ETF as "Franklin Ethereum ETF" on the Chicago Board Options Exchange. The SEC has postponed its decision on the application until June 11, extending the review period by an additional 45 days. This move places Franklin Templeton among industry giants like BlackRock, Grayscale, VanEck, and ARK Invest in the Ethereum ETF race. However, the outlook for Ethereum-based funds remains uncertain, with Bloomberg ETF analyst Eric Balchunas estimating a 35% chance of SEC approval in May, influenced by SEC Chair Gary Gensler's stance on Ether as a security.
Next news: This week, Bitcoin ($BTC) and Ethereum ($ETH) experienced reduced volatility and price stagnancy, with $BTC vols compressing from 70% to 50%. The downside skew in $ETH risk reversals deepened to -13% in anticipation of further delays in the US SEC's approval of an $ETH spot ETF. The upcoming launch of Hong Kong-based spot ETFs for $BTC and $ETH is expected to attract institutional capital from Asia and reverse the current bearish trend. The correlation in price movements between $BTC and $ETH remains strong, and the MVRV ratio for both coins has increased, suggesting higher profitability for holders.
Next news: Forbes published an article on April 27 listing the top 20 "zombie tokens" in the cryptocurrency market with a value of over $1 billion, including XRP, ADA, BCH, LTC, ICP, ETC, XLM, STX, KAS, THETA, FTM, XMR, AR, ALGO, FLOW, EGLD, BSV, MINA, XTZ, EOS. These tokens are defined as having little use beyond speculative trading. The article highlights the disproportionate market values of these tokens compared to their actual utility or revenue, using XRP and Ethereum Classic (ETC) as examples. It also touches on the controversy surrounding ADA's founder, Charles Hoskinson, and his misleading claims about his academic background and Cardano's involvement with the Defense Advanced Research Projects Agency.
Next news: A "PAPER HAND" trader frequently traded Gummy and Maneki in the past 5 days and lost 125.52 SOL. According to BlockBeats, on April 27, according to Lookonchain monitoring, the trader made 7 transactions, 6 of which were losses, buying when the price was high and selling in a panic after the price fell.
Next news: The U.S. Department of Justice has rejected Tornado Cash co-founder Roman Storm's motion to dismiss criminal charges against him. The rejection was based on the argument that the documents submitted by Storm raised controversial facts that should be weighed by a jury. Storm had previously requested the charges involving money laundering to be withdrawn, arguing that Tornado Cash was developed and made publicly available before it was utilized by hacker groups sanctioned by the U.S. Treasury Department. Storm's lawyers contended that he had limited ability to prevent sanctioned entities from using Tornado Cash when the alleged misconduct occurred.
Next news: VeChain has acknowledged a balance issue with X-node rewards following an infrastructure upgrade. The problem was reported by users after the upgrade last Friday. VeChain's team is currently investigating the issue and working towards a resolution. They have promised to keep the community updated once the issue is confirmed and resolved.
Next news: GLM briefly broke through $0.47, with a 24-hour increase of 18.4% According to BlockBeats, on April 27, according to OKX market data, GLM briefly broke through $0.47 and is currently quoted at $0.46, a 24-hour increase of 18.4%.
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.