SoSo Daily Apr 30

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on April 30, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.33 trillion US dollars, witnessing an increase of 0.346% compared to the previous day; the total trading volume is 67.89 billion US dollars, marking a 25% increase from the previous day.

According to sosovalue, the price of $BTC is 63,330 USD, an increase of 1.42% from yesterday. The market cap of $BTC is 1.25T USD, accounting for 53.5% of the total market cap; $BTC's 24-hour trading volume is 16.18B USD, making up 23.8% of the total trading volume.
The price of $ETH is 3,169.3 USD, down 1.11% from yesterday; the market cap of $ETH is 386.83B USD, representing 16.6% of the total market cap; $ETH's 24-hour trading volume is 10.79B USD, comprising 15.9% 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 39.7% 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 DSLA Protocol. As of 05:55 today, its market cap is 4.38M, with a coin price of 0.00078740, witnessing a 24-hour increase of 25.7%.
The second is Amp. As of 05:55 today, its coin price is 0.0087100, with a 24-hour increase of 24.7%.
The third is RabbitX. As of 05:55 today, its coin price is 0.080630, showing a 24-hour increase of 22.4%.
In fourth place is Helium. As of 05:55 today, its coin price is 4.1690, with a 24-hour rise of 20%.
In fifth place is DinoLFG. As of 05:55 today, its coin price is 0.015990, increasing by 17.1% 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, 13 are up and 2 are down. Notably, Layer2 sector has fallen -2.33% relative to the UTC 0 time, led by declines in nvir (-11.6%), ata (-9.6%), and boba (-7%).
AI sector has decreased -3.68% relative to UTC 0, with agi (-10.3%), vxv (-9.26%), and glm (-9.07%) leading the decline.
RWA sector has fallen -5.94%, with om (-9.78%), token (-9.72%), and pendle (-8.19%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:EigenLayer allocates 45% of tokens to community, introduces staking airdrops. The total number of EigenLayer tokens is 1.67 billion, with 45% allocated to the community through pledge airdrops, community programs, and ecosystem development. Additionally, 29.5% of the tokens are allocated to investors and 25.5% to early contributors, with a three-year lock-up period. The first year involves a full lock-up, followed by a gradual release at a rate of 4% per month. EigenLayer introduces staking as community airdrops, distributing 15% of the token supply over multiple seasons. The first season will see 5% of the token supply issued based on staking activity, with a structured claim period.
Next news: CoinShares data reported by BlockBeats on April 29, digital asset investment products experienced a significant outflow of $435 million 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 $2.8 million.
Next news: Payment giant Stripe announces integration with Avalanche network. According to BlockBeats, on April 29, payment giant Stripe announced the integration of the Avalanche network. The integration allows users to seamlessly access crypto products and decentralized applications, such as decentralized trading platforms and NFT platforms running on Avalanche. At the same time, users can use debit or credit cards in the Avalanche ecosystem wallet core to purchase Avalanche's native AVAX coins, and Stripe will be responsible for all matters related to KYC.
Next news: The U.S. Securities and Exchange Commission (SEC) has initiated a formal investigation into Ethereum's status as a security, following allegations that Ethereum ($ETH) has been traded as an unregistered security for at least a year. The investigation, known as the "Ethereum 2.0" investigation, was approved by the SEC's five-member commission and focuses on potential unregistered offerings and sales of Ether since at least 2018. Court documents from ConsenSys' lawsuit against the SEC revealed that SEC Chairman Gary Gensler and the SEC believed Ether was a security for at least a year. The investigation was formally launched in March 2023, authorizing subpoenas for individuals and entities involved in $ETH trading. The SEC's Enforcement Department, led by Gurbir Grewal, is leading the investigation, and the details are to be kept confidential by subpoena recipients as per SEC instructions.
Next news: Circle's USDC stablecoin has overtaken Tether's USDT in transaction volume in 2024 based on Visa crypto payments data.
Next news: Tiger Brokers (Hong Kong) supports the first batch of virtual asset spot ETF transactions in Hong Kong with zero fees. The TigerTrade app will open commission-free transactions for the first six virtual asset spot ETFs issued in Hong Kong to all Hong Kong customers. 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: On April 30, spot Bitcoin and Ethereum ETFs began trading in Hong Kong, leading to Huaxia Bitcoin (03042.HK), Harvest Bitcoin (03439.HK), and Boshi Bitcoin (03008.HK) all rising by more than 3% in early trading.
Next news: EigenLayer releases a white paper on GitHub, introducing the Eigen token as a universal inter-subjective work token. The white paper, released on April 30, details the structure of the Eigen token, which acts as a general intersubjective work token requiring pledging (i.e., locking) to perform certain tasks. Eigen enhances the set of Active Verification Services (AVS) that can be protected by EigenLayer, complementing $ETH by supporting intersubjective fault reduction, whereas $ETH staking supports objective fault reduction.
Next news: Former Binance CEO Changpeng "CZ" Zhao faces the possibility of a three-year prison sentence in the U.S., exceeding the 18-month plea agreement. Meanwhile, traders on Polymarket expect CZ to serve less than a year in prison. The CFTC is seeking to ban election betting in the U.S., further reinforcing its illegality in most states.
Next news: After the price of $ETH dropped, the whale gave up on long $ETH and deposited all 11,892 $ETH($38M) to #Binance for sale, making ~$217K. This whale has gone long $ETH 3 times since Mar 20, 2 of them were losses, with a total loss of ~$4.63M.

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.