SoSo Daily May 20

Let's turn our attention to today's overall Crypto market situation.
As of 2 PM Hong Kong time on May 19, 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 66,278 USD, a decrease of 0.952% from yesterday. The market cap of $BTC is 1.31T USD, accounting for 58.1% of the total market cap; $BTC's 24-hour trading volume is 16.18B USD, making up 22.2% of the total trading volume.
The price of $ETH is 3,072.1 USD, down 1.63% from yesterday; the market cap of $ETH is 369.03B USD, representing 16.4% of the total market cap; $ETH's 24-hour trading volume is 10.79B USD, comprising 14.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 74.5% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Raft. As of 23:55 today, its market cap is 552.38K, with a coin price of 0.0010703 USD, witnessing a 24-hour increase of 82%.
The second is Cream. As of 23:55 today, its coin price is 91.620 USD, with a 24-hour increase of 53.3%.
The third is Strips Finance. As of 23:55 today, its coin price is 0.87230 USD, showing a 24-hour increase of 33.4%.
In fourth place is Zephyr Protocol. As of 23:55 today, its coin price is 5.3210 USD, with a 24-hour rise of 22.9%.
In fifth place is ALEX Lab. As of 23:55 today, its coin price is 0.20740 USD, increasing by 22% 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, NFT sector has fallen -3.69% relative to the UTC 0 time, led by declines in vee (-11.7%), TNSR (-11.6%), and ern (-6.58%).
GameFi sector has decreased -4.31% relative to UTC 0, with dark (-17.9%), KARRAT (-8.69%), and ACE (-7.41%) leading the decline.
Layer2 sector has fallen -4.67%, with MERL (-8.56%), STRK (-8.49%), and MANTA (-8.26%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Venezuelan government plans to disconnect Bitcoin mining farms from the national electricity system to prevent power supply outages. This decision is in response to the high electricity consumption of these mines, which has been causing frequent power outages in surrounding areas. The Ministry of Electricity and Energy stated that the action is aimed at ensuring reliable service for all Venezuelans.
Next news: On May 19, an individual turned 13 SOL (about $2,275) into $2.26 million in just 8 hours by buying #1DOL, achieving a profit of 993 times. This person is the largest participant in the BOME pre-sale, having spent 421 SOL (about $72,000) to participate in the pre-sale and buy BOME, and is still the largest individual holder of BOME.
Next news: Two newly created addresses withdrew 12.73 million BLZ from Binance in the past 24 hours, equivalent to approximately US$4.03 million. BlockBeats reported that on May 19, according to Lookonchain monitoring, in the past 24 hours, 2 newly created wallets withdrew 12.73 million BLZ (about 4.03 million US dollars) from Binance.
Next news: Kraken's Global Head of Asset Growth and Management, Mark Greenberg, clarified on the X platform that Kraken has no plans to delist USDT in the European market. Kraken understands the value of USDT to European customers and will continue to explore all options for providing USDT under the upcoming system. Kraken will comply with all legal requirements, even those it disagrees with, but the rules have not yet been finalized. Kraken is committed to providing stability to European customers.
Next news: A smart money investor spent 891 SOL to purchase 13 million MAGA tokens in the past 2 hours and made a profit of $1.2 million by trading TREMP. According to BlockBeats report on May 19, based on Lookonchain monitoring, the investor, who had previously earned about $1.2 million through trading TREMP, invested 891 SOL (equivalent to $155,000) to buy 13 million MAGA at an average price of $0.012.
Next news: A whale withdrew 1,590 $BTC from Binance in the past 24 hours, worth about $106 million. According to Lookonchain monitoring, the whale address starting with 124BPP9 bought and withdrew 1,590 $BTC (about 106.8 million US dollars) from Binance.
Next news: A whale sold 1.7 million WIF at a loss to purchase TREMP and BONK, resulting in a price increase for both tokens. The whale initially bought 1.7 million WIF for 25,682 SOL and later sold a portion of it to buy TREMP and BONK. The transactions involved exchanging 1.28 million WIF for 127.16 billion BONK and 410,688 WIF for 966,000 TREMP.
Next news: Gemini, one of Genesis's creditors, announced it will start returning the first 97% of crypto assets to customers of the Genesis Earn program by the end of May, which will be paid in-kind. This means customers who previously deposited one Bitcoin into Gemini Earn will receive Bitcoin instead of being compensated with the dollar value of Bitcoin on a specific date (as of November 16, 2022). Previously, cryptocurrency lender Genesis Global received court approval to return approximately $3 billion in cash and cryptocurrency to customers in bankruptcy liquidation.
Next news: PEPE experienced a significant price decline, possibly due to profit-taking by investors and various market indicators. Over 92% of PEPE investors were in profit, leading to increased selling pressure and a sharp decline in the meme coin's price. Other metrics, such as social volume and weighted sentiment, also reflected a bearish notion, while market indicators like RSI and CMF supported the bearish trend. The price was still above its 20-day EMA, but if the decline continues, it might drop to this level.
Next news: On May 19, according to OKX market information, Bitcoin fell below $67,000 and is now quoted at $66,900.

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.