As of 5:59 PM on May 14, 2024, the total market cap of the crypto market is 2.25 trillion US dollars, experiencing a decrease of 2.58% in the last 24 hours. The total trading volume is 72.92 billion US dollars, showing an increase of 23.9% from the previous day.
According to sosovalue, the price of $BTC is 61,312 USD, a decrease of 2.39% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 16.18 billion USD, making up 22.2% of the total trading volume.
The price of $ETH is 2,876.1 USD, down 2.21% from yesterday; the market cap of $ETH is 345.46 billion USD, representing 15.4% of the total market cap; $ETH's 24-hour trading volume is 10.79 billion USD, comprising 14.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 37% 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, according to sosovalue, the top five gainers are:
Top 1 gainer is SUDO. As of 17:55 today, its market cap is 5.49M, with a coin price of 0.21810 USD, witnessing a 24-hour increase of 44.6%.
The second is KP3R. As of 17:55 today, its coin price is 86.620 USD, with a 24-hour increase of 26.5%.
The third is TT. As of 17:55 today, its coin price is 0.0053760 USD, showing a 24-hour increase of 17.9%.
In fourth place is SD. As of 17:55 today, its coin price is 0.70580 USD, with a 24-hour rise of 15.1%.
In fifth place is WSM. As of 17:55 today, its coin price is 0.0069000 USD, increasing by 15% 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, DePIN sector has fallen 5.07% relative to the UTC 0 time, led by declines in shdw (-15.5%), nos (-10.5%), and rndr (-10.2%).
SocialFi sector has decreased 5.9% relative to UTC 0, with rss3 (-9.61%), cyber (-7.04%), and ton (-6.28%) leading the decline.
AI sector has fallen 8.06%, with wld (-16.3%), nos (-10.5%), and rndr (-10.2%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A Dutch court has convicted Tornado Cash developer Alexey Pertsev of laundering $1.2 billion, marking a significant event in the realm of privacy and decentralized finance. Pertsev, a 31-year-old Russian living in the Netherlands, was sentenced to 64 months in prison by a Dutch court. His lawyers can appeal the decision within 14 days. The developer was initially imprisoned in August 2022 when Tornado Cash was banned by the US government, which claimed it was a critical tool for the North Korean hacking group Lazarus. During Pertsev’s trial, prosecutors argued that he didn’t do enough to stop criminals from using Tornado Cash, while the defense argued that Tornado Cash operates on open-source and automated smart contracts, making it unfair to blame Pertsev for the actions of its users. The conviction has sparked debate in the crypto community, with some viewing it as a dangerous precedent for developers of open-source tools. The outcome of this trial could set a precedent for future trials involving other Tornado Cash developers, with Roman Storm and Roman Semenov also accused of money laundering and violating sanctions in the US.
Next news: Coinbase, a major cryptocurrency exchange, experienced a system-wide outage, causing disruptions for users attempting to access its platform. The outage, which began at 4:15 AM UTC on May 14, was announced on Coinbase's official status page. Despite the technical difficulties, the exchange reassured users that their funds are secure and that the issue is being actively addressed. Coinbase's team is working to restore normal operations and has advised users to be patient and monitor official updates. This incident is not the first of its kind for Coinbase, which has faced similar technical challenges in the past.
Next news: GameStop stock experienced a significant surge in premarket trading as Keith Gill, known as 'Roaring Kitty,' made a return. This event led to a surge in stocks related to Keith Gill, while developers took the opportunity to launch numerous meme coins on different blockchains, aiming to capitalize on the surrounding hype.
Next news: The US government has ordered a Chinese crypto mining company, MineOne Partners Ltd., to exit its property near the F.E. Warren Air Force Base in Wyoming, citing national security concerns. The company, which acquired real estate near the base in 2022, is said to pose a threat that could impair US national security, according to the White House. The base is known for housing US nuclear missiles, highlighting the sensitivity of the location.
Next news: Bitcoin's on-chain activity drops to historic lows, raising questions about a potential market bottom. Despite volatility, Bitcoin stabilizes above a key support level, showing signs of recovery. Altcoins rally as Bitcoin briefly trades above $64,000. Bitcoin guards $60,000 support amid anticipation of CPI data and Fed Chair comments. Bitcoin price prediction indicates potential drop to $56,000 amid bearish market signals. Bitcoin price chart suggests potential breakout amid bullish signals and macroeconomic uncertainties. Bitcoin at a crossroads: potential rise to $76,000 or fall to $51,000. Bitcoin may face downturn before reaching $70,000, U.S. market pressure indicates. Market analysis: Bitcoin's rebound and altcoin trends. Bitcoin and other cryptocurrencies face a downturn. Bitcoin surpasses $62K amid selling by short-term holders. Bitcoin falls below $62,000. Bitcoin price falls to $61K amid Coinbase system outage.
Next news: The State of Wisconsin's Investment Board has made significant investments in Bitcoin ETFs, with holdings in both BlackRock's iBit and Grayscale's GBTC. The board purchased $99 million of BlackRock's iBit and holds $64 million of Grayscale's GBTC, as revealed in SEC filings. This move is part of the board's strategy to manage the Wisconsin Retirement System and other state investment funds, aiming to generate respectable returns and maintain trust among beneficiaries and stakeholders. The disclosure of these holdings provides insights into institutional appetite for Bitcoin ETFs, as investment managers are required to disclose their holdings in 13F forms if they manage $100 million or more.
Next news: An early buyer of $PEPE deposited 250B $PEPE($2.67M) into #Binance for profits 55 mins ago.
He bought 474.95B $PEPE($4.8M) with a cost of only $1K.
His profit on $PEPE is ~$3.6M.
Next news: Rain Exchange suffered $14.1M in suspicious outflows 2 weeks ago, according to on-chain sleuth ZachXBT. Several wallets reportedly belonging to Rain sent suspicious token transfers to a new address. The Rain cryptocurrency exchange was likely exploited on April 29 when $14.1 million worth of Bitcoin ($BTC), Ether ($ETH), Solana (SOL), and XRP was transferred to a new wallet under suspicious circumstances. Rain is a centralized crypto exchange headquartered in Bahrain, specializing in serving customers from Southwest Asia and the Middle East. The transferred funds were quickly transferred to instant exchanges and swapped for $BTC and $ETH before being deposited to two destination addresses on the Bitcoin and Ethereum networks. The Ethereum address is currently holding approximately 1,881 $ETH, worth $5.5 million at the current price, and the Bitcoin address is holding
137.9 $BTC, worth $8.6 million. Arkham Intelligence data suggests the Ethereum destination address received its funds from an address that received the funds from several BitGo multisignature wallets, not explicitly labeled as belonging to Rain. On April 29, these BitGo wallets posted 26 separate transactions, sending $ETH and a variety of tokens to the address. These tokens were immediately swapped for $ETH on Uniswap. The account also received funds from a Binance hot wallet. Hacks and exploits continue to pose a risk for crypto users, with recent incidents involving GNUS.AI and the North Korean hacker organization Kimsuky targeting crypto firms.
Next news: The United States Commodity Futures Trading Commission (CFTC) has settled charges against cryptocurrency brokerage firm Falcon Labs, owned by FalconX, for approximately $1.8 million. The charges were related to the firm's failure to register as a Futures Commission Merchant and facilitating access to digital asset exchanges for U.S. residents without proper registration. The settlement includes a requirement for FalconX to cease offering services to U.S. residents and to pay around $1.2 million in disgorgement and $600,000 in civil monetary penalties. This action is part of the CFTC's broader enforcement efforts to ensure compliance with its regulations in the derivatives markets, especially concerning digital asset exchanges. The settlement also noted FalconX's voluntary improvements in practices following a previous lawsuit with Binance and its former CEO Changpeng Zhao. The CFTC has been active in enforcing regulations against crypto firms, with 47 enforcement actions filed in 2023 alone.
Next news: GameStop (GME.N) and AMC Cinemas (AMC.N) stocks surged in pre-market trading on May 14, with GameStop's pre-market gains reaching 83.55% in the U.S. stock market. AMC Cinemas also experienced a significant rise of 40% before the market opened. The surge in GameStop's stock value continued the upward trend from the previous day, with a notable increase of over 50%.
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.