SoSo Daily Apr 29

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM on April 29, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.33 trillion US dollars, witnessing a decrease of 2.23% compared to yesterday; the total trading volume is 66.99 billion US dollars, marking an increase of 28.7% from the previous day.

According to sosovalue, the price of $BTC is 63,038 USD, a decrease of 1.15% from yesterday. The market cap of $BTC is 1.24T USD, accounting for 53.4% of the total market cap; $BTC's 24-hour trading volume is 16.18B USD, making up 24.2% of the total trading volume.
The price of $ETH is 3,174 USD, down 4.58% from yesterday; the market cap of $ETH is 387.40B USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 10.79B USD, comprising 16.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 70.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 40.3% 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 RabbitX. As of 17:55 today, its market cap is 35.48M, with a coin price of 0.091370, witnessing a 24-hour increase of 26.1%.
The second is DSLA Protocol. As of 17:55 today, its coin price is 0.00078740, with a 24-hour increase of 25.7%.
The third is Helium. As of 17:55 today, its coin price is 4.1690, showing a 24-hour increase of 20%.
In fourth place is Restake Finance. As of 17:55 today, its coin price is 0.089658, with a 24-hour rise of 18.4%.
In fifth place is Altair. As of 17:55 today, its coin price is 0.031461, increasing by 14.3% 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 16 sectors, 0 are up and 16 are down. Notably, AI sector has fallen by 5.68% relative to the UTC 0 time, led by declines in agi (-10.3%), nmr (-10%), and vxv (-9.26%).
Layer2 sector has decreased by 6.58% relative to UTC 0, with DYM (-10.1%), op (-10.1%), and gel (-9.55%) leading the decline.
RWA sector has fallen by 7.58%, with pro (-11.9%), token (-9.72%), and mkr (-9.26%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A whale address starting with 0x444 transferred 1,500 $ETH (approximately 4.8 million US dollars) from Compound to Binance on April 29, according to ScopeScan monitoring reported by BlockBeats.
Next news: According to Bloomberg, Australia is set to launch a series of Bitcoin exchange-traded funds (ETFs), following the trend in the United States and Hong Kong. Notable issuers like Van Eck Associates Corp. and BetaShares Holdings Pty are preparing for the listing of Bitcoin ETFs. The Australian Stock Exchange (ASX Ltd.) is expected to approve the first batch of spot Bitcoin ETFs for main board listing by the end of 2024. The ASX handles about four-fifths of Australia's stock transactions. This move comes as U.S. Bitcoin ETFs have attracted $53 billion in funds this year, including products from BlackRock and Fidelity. Additionally, funds that invest directly in Bitcoin and Ethereum will start trading in Hong Kong. Australia's $2.3 trillion pension market, with about a quarter of its pension assets in self-managed pension plans, may drive inflows into these spot cryptocurrency funds.
Next news: Bitcoin's value has been fluctuating, with a 24-hour increase of 1.63% on April 28, followed by a drop below $63,000 and then below $62,000 on April 29. The current price stands at $61,987, marking a 24-hour drop of 3.1%.
Next news: The U.S. Securities and Exchange Commission (SEC) has initiated a formal investigation into Ethereum's status as a security, following allegations from ConsenSys that the SEC has been investigating Ethereum for over a year. The investigation, known as the "Ethereum 2.0" investigation, focuses on potential unregistered offerings and sales of Ether since at least 2018. SEC Chairman Gary Gensler's refusal to answer questions about whether Ether is considered a security, along with court documents from ConsenSys' lawsuit, indicate the SEC's belief that Ether was trading out of compliance with federal regulations. The investigation was formally launched in March 2023, and the SEC's Enforcement Department has authorized subpoenas for individuals and entities involved. ConsenSys also claims that the SEC plans to target the company for its MetaMask product, alleging that it is a broker-dealer. However, the SEC's notice to ConsenSys does not mention any charges relating to $ETH specifically. The SEC's stance on Ether as a security has been a subject of controversy, especially in light of previous guidance under Chairman Jay Clayton that Ether, like Bitcoin, was not considered a security.
Next news: Tiger Brokers (Hong Kong) announces zero commission and platform fee transactions for the first six virtual asset spot ETFs issued in Hong Kong. The ETFs include Bosera Hashkey Bitcoin ETF, Bosera Hashkey Ethereum ETF, Huaxia Bitcoin ETF, Huaxia Ethereum ETF, Harvest Bitcoin Spot ETF, and Harvest Ethereum Spot ETF.
Next news: Payment giant Stripe announces integration with Avalanche network. According to BlockBeats, on April 29, payment giant Stripe announced the integration of the Avalanche network. The integration allows users to seamlessly access crypto products and decentralized applications, such as decentralized trading platforms and NFT platforms running on Avalanche. At the same time, users can use debit or credit cards in the Avalanche ecosystem wallet core to purchase Avalanche's native AVAX coins, and Stripe will be responsible for all matters related to KYC.
Next news: The Ethereum network has experienced a significant drop in transaction fees, reaching a six-month low, which could indicate a potential altcoin rally. Santiment's analysis suggests that the low transaction fees may signal an upcoming surge in Ethereum network activity and possibly the beginning of an altcoin rally. This period of low fees follows a surge in interest in a new token standard, ERC-404, which led to high gas fees in February. Additionally, Ethereum's circulating supply has increased due to a decrease in network activity, with a net supply increase of 16,979 new Ether in the last month. Despite this, over 437,000 $ETH have been burned since the network's transition to a proof of stake consensus mechanism, known as 'The Merge', on September 15, 2022.
Next news: Wasabi Wallet developer ZkSnacks blocks US users
According to BlockBeats, on April 28, ZkSnacks, the developer of the privacy Bitcoin wallet Wasabi Wallet, announced that it would indefinitely ban US users from accessing Wasabi Wallet and other services. The decision was likely due to the arrest of the two founders of Samourai Wallet, a Bitcoin wallet that also includes privacy protection features, earlier this week. Its announcement stated that in view of the recent announcement by the US authorities, ZkSnacks currently strictly prohibits US users from using its services, including prohibiting US citizens and residents from accessing its website, downloading and using Wasabi Wallet and any related products and services, including API and RPC interfaces.
Next news: CoinShares data reported by BlockBeats on April 29 shows a $435 million outflow from digital asset investment products in the last week, marking the third consecutive week of outflows and the largest since March this year. The outflows were predominantly from Grayscale, totaling $440 million, its lowest level in nine weeks. ETP trading volume also decreased to $11.8 billion. Bitcoin, Ethereum, Solana, Litecoin, and Chainlink saw notable movements, with Bitcoin and Ethereum experiencing outflows of $423 million and $39 million, respectively, while Solana, Litecoin, and Chainlink recorded inflows of $4 million, $3 million, and $2.8 million.
Next news: Stablecoin firm Tether invests $200M in neurotech company. Tether’s brand new venture capital division Tether Evo has completed a $200 million strategic investment in the neural implant firm. Tether — the operator of the eponymous Tether (USDT) stablecoin, the world’s largest stablecoin by market value — has completed a major investment following restructuring of its business. On April 29, Tether announced a strategic investment of $200 million into Blackrock Neurotech, becoming the majority stakeholder in the neural implant company. The investment was carried out through Tether Evo, a brand-new venture capital division at Tether. Established in 2008, Blackrock Neurotech is a global pioneer of human brain-computer-interface (BCI) technology, known for its advanced brain-computer interfaces. The firm is committed to helping millions of people around the world afflicted with paralysis, lost function and neurological disorders that prevent them from walking, seeing, hearing, feeling, or talking. Through Blackrock Neurotech’s brain interface technology, patients have operated robotic arms, maneuvered wheelchairs, sent messages, surfed the internet, and even driven a car using the power of their thoughts. In 2016, Blackrock Neurotech’s patient Nathan Copeland made headlines when he used his Blackrock BCI to control a robotic arm and fist bump U.S. President Barack Obama. Tether’s $200 million investment aims to fund the commercialization and the rollout of medical solutions that have already been successfully applied to more than 40 individuals. The investment will also be used to improve Blackrock Neurotech’s research and development and maintain its position as a major BCI player in the future, with a long-term focus on human evolution. According to Tether CEO Paolo Ardoino, Blackrock Neurotech is just the beginning of the company’s journey through Tether Evo to support projects that “redefine the boundaries of what's possible at the intersection of technological innovation and human potential.” He added: “Blackrock Neurotech represents a leap towards a future where technology not only complements but enhances our human experience, and we at Tether are proud to begin this journey with them.” Blackrock Neurotech co-founder Florian Solzbacher noted that Blackrock Neurotech’s mission of helping restore functions in people is a long-term endeavor and requires dedicated and visionary partners. Related: Here’s the 6 biggest crypto VC deals in Q1 2024 and late 2023 “With its commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn't dream of a better partner than Tether to bring our shared vision to life,” he added. The news comes a few days after Tether on April 18 introduced four new business divisions focused on diverse areas of business, including Tether Data, Tether Finance, Tether Power and Tether Edu. Magazine: 7 ICO alternatives for blockchain fundraising: crypto airdrops, IDOs & more

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.