SoSo Daily May 15

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on May 15, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.25 trillion US dollars, witnessing a decrease of 2.58% compared to yesterday; the total trading volume is 72.92 billion US dollars, marking an increase of 23.9% from the previous day.

According to sosovalue, the price of $BTC is 61,929 USD, a decrease of 1.26% from yesterday. The market cap of $BTC is 1.22 trillion USD, accounting for 54.3% 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 2,907 USD, down 1.21% from yesterday; the market cap of $ETH is 349.17 billion USD, representing 15.5% 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 69.8% 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 04:45, the top five gainers are:
Top 1 gainer is Wall Street Memes (WSM). As of 04:45 today, its market cap is 14.04M, with a coin price of 0.0074600 USD, witnessing a 24-hour increase of 26.2%.
The second is Keep3rV1 (KP3R). As of 04:45 today, its coin price is 83.380 USD, with a 24-hour increase of 22.3%.
The third is DeRace (DERC). As of 04:45 today, its coin price is 0.24790 USD, showing a 24-hour increase of 20.5%.
In fourth place is Arcblock (ABT). As of 04:45 today, its coin price is 3.7768 USD, with a 24-hour rise of 18.3%.
In fifth place is holoride (RIDE). As of 04:45 today, its coin price is 0.0033570 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 16 sectors, 0 are up and 16 are down. Notably, Layer2 sector has fallen by 3.65% relative to the UTC 0 time, led by declines in arpa (-7.42%), TIA (-7.22%), and imx (-6.26%).
DePIN sector has decreased by 3.79% relative to UTC 0, with nos (-13.9%), rndr (-9.32%), and zcn (-7.37%) leading the decline.
AI sector has fallen by 5.72%, with nos (-13.9%), ali (-9.9%), and rndr (-9.32%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A Dutch judge has found Tornado Cash developer Alexey Pertsev guilty of money laundering. Pertsev was first imprisoned in the Netherlands in August 2022.
Next news: The Wisconsin Investment Committee, alongside the State of Wisconsin Investment Board, has made significant investments in Bitcoin ETFs, including BlackRock's iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Trust (GBTC). The committee holds $99 million in IBIT and $64 million in GBTC, as disclosed in SEC filings. This move reflects the growing institutional interest in cryptocurrency investments and marks a notable shift in the investment strategy of the state board. The Wisconsin Investment Committee aims to generate respectable returns and maintain trust among beneficiaries and stakeholders through these strategic investments.
Next news: Polymarket, a crypto prediction market, has raised $70 million in financing led by Founders Fund, despite regulatory challenges from U.S. authorities. The platform allows users to predict outcomes of various events, with a focus on the 2024 U.S. Presidential elections. The funding rounds, totaling $70 million, have attracted support from notable figures such as Ethereum co-founder Vitalik Buterin. Polymarket has faced regulatory scrutiny and fines from the U.S. CFTC, leading to a promise to reduce its services in the U.S. and operate overseas. Despite these challenges, the platform remains optimistic about its future.
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: US spot Bitcoin ETFs experienced a strong start in their first four months since launch on January 11, with net inflows reaching approximately $11.7 billion. Despite this initial success, demand has slowed, influenced by factors such as profit-taking by investors, the Federal Reserve's interest rate policies, and a halving of per-block rewards for mining Bitcoin. Notably, the Grayscale Bitcoin Trust ETF (GBTC) saw net outflows of $17.6 billion. Recent weeks have seen a drop in demand for Bitcoin, with its price decreasing by about 6% from a month ago. The inflow total for the category once exceeded $12.5 billion before experiencing outflows that reduced it significantly. Exchange-Traded Product (ETP) volumes, primarily from US spot Bitcoin ETFs, have also declined, indicating reduced participation in the crypto ecosystem. Despite the slowdown, products by BlackRock and Fidelity initially attracted significant investor assets, with net inflows of $15.5 billion and $8.1 billion, respectively. However, even these products have seen a decrease in demand recently. Financial advisers are expected to play a significant role in future inflows, with some already holding substantial positions in various Bitcoin funds.
Next news: GameStop stock experienced a significant 44% jump 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: A core contributor at Solana's Cypher Protocol, Hoak, has admitted to stealing $300,000. He attributed his actions to a crippling gambling addiction.
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%.
Next news: Chris Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission (CFTC) and known as the "Crypto Godfather," has joined the board of directors of stablecoin issuer Paxos. Giancarlo, who is also one of the founders of the Digital Dollar project, brings his extensive insights into the development of Web3 and digital currencies to Paxos. Throughout his career, Giancarlo has been actively involved in discussions about cryptocurrencies, central bank digital currencies (CBDCs), and stablecoins, highlighting their significance for the future.
Next news: Lido and Paradigm are funding the re-staking project Symbiotic, according to a CoinDesk report. Symbiotic, developed by the team formerly known as StakeMind, allows users to re-stake Lido's stETH with assets not natively compatible with the Eigen layer. This initiative is part of the emerging re-pledge ecosystem, with several teams, including AVSS, discussing integration and building liquid re-pledge services on the Eigen layer.

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.