SoSo Daily May 20

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM on May 20, 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 68,289 USD, an increase of 2.35% from yesterday. The market cap of $BTC is 1.35T USD, accounting for 59.9% 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 3,141 USD, up 2.22% from yesterday; the market cap of $ETH is 377.32B USD, representing 16.8% 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 76.7% 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 the latest data, the top five gainers are:
Top 1 gainer is Strips Finance. As of 17:55 today, its market cap is 28.28M, with a coin price of 0.93380 USD, witnessing a 24-hour increase of 33.9%.
The second is Unifi Protocol DAO. As of 17:55 today, its coin price is 5.1830 USD, with a 24-hour increase of 30.9%.
The third is RSIC•GENESIS•RUNE. As of 17:55 today, its coin price is 0.0097500 USD, showing a 24-hour increase of 30.2%.
In fourth place is Doland Tremp. As of 17:55 today, its coin price is 1.2971 USD, with a 24-hour rise of 26.2%.
In fifth place is Crypterium. As of 17:55 today, its coin price is 0.058760 USD, increasing by 25.2% 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, 16 are up and 0 are down. Notably, AI sector has risen 4.86% relative to the UTC 0 time, led by gains in paal (7.16%), agix (6.26%), and ocean (6.23%).
GameFi sector has increased 4.46% relative to UTC 0, with mc (14.4%), beam (13.6%), and bigtime (7.92%) leading the rise.
DePIN sector has risen 4.32%, with lpt (15.4%), theta (9.8%), and iota (7.17%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Grayscale, a leading digital currency asset manager, has appointed Peter Mintzberg, previously with Goldman Sachs, as its new CEO following the resignation of Michael Sonnenshein. The change in leadership was reported by Blockbeats on May 20.
Next news: Bitcoin's price falls below $67,000 according to OKX market information.
Next news: The U.S. Securities and Exchange Commission (SEC) is set to make a crucial decision on the approval of Ethereum exchange-traded funds (ETFs) this week, with significant anticipation and speculation surrounding the outcome. Analysts and industry experts weigh in on the potential approval, rejection, and the impact on the cryptocurrency market. The decision is expected to provide valuable insight into the SEC's position on spot Ether ETFs and could influence the future of mainstream investor participation in the crypto market.
Next news: According to CoinShares, digital asset investment products received as much as $932 million in inflows last week, mainly due to market expectations of interest rate cuts. Bitcoin inflows were $942 million. Ethereum outflows were $23 million.
Next news: The ruling of the COPA lawsuit against Craig Wright, who claims to be Satoshi Nakamoto, has been announced. The verdict reveals that Wright lied extensively to the court, with most of his lies related to forged documents intended to support his claim of being Satoshi Nakamoto. The evidence presented at trial showed these fabrications and forgeries, highlighting Wright's disinformation campaign. The judgment contains detailed technical and other information intended to reveal the true scale of his efforts to prove he is Satoshi Nakamoto, which the court found to be based on questionable or fabricated evidence.
Next news: Genesis reaches a $2 billion settlement with New York State regulators to repay defrauded investors. The settlement was announced by New York Attorney General Letitia James on May 20, following Genesis' bankruptcy filing in January 2023. The lawsuit, initiated by James in October 2023, accused DCG, its Genesis subsidiary, and Gemini Trust of misleading investors about the Gemini Earn program, leading to over $1 billion in losses.
Next news: A whale who built an $ETH position in 2022 deposited 15,000 $ETH to Kraken 3 hours ago. BlockBeats reported that on May 20, according to Lookonchain monitoring, a whale address holding 120,874 $ETH deposited 15,000 $ETH to Kraken, worth about $46 million. The address withdrew 120,874 $ETH ($199 million) from Kraken at a price of $1,647 between August 31, 2022, and September 9, 2022, leaving 105,874 $ETH ($325.3 million). Its profit was about $171.5 million.
Next news: PEPE faces a price decline as profit-taking by investors reaches 92%, leading to a sharp drop in the meme coin's value. Market indicators and metrics point to a bearish sentiment, with social volume and sentiment declining. Despite this, PEPE's market cap in $BTC terms remains above its 20-day EMA, suggesting potential support if the price decline continues.
Next news: Hong Kong Police Arrest Three Men for USDT Exchange Scam Involving Joss Paper link. The suspects deceived the victim by displaying 3,000 pieces of Joss paper, each with a face value of HKD 500, luring him to transfer the USDT to a designated cryptocurrency wallet. They then made various excuses to avoid paying cash and fled the scene.
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.

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.