SoSo Daily May 25

As of 5:59 AM on May 25, 2024, the total market cap of the crypto market is 2.70 trillion US dollars, showing a 0.715% increase from the previous day. The 24-hour trading volume is 85.56 billion US dollars, indicating a decrease of 43.8% compared to the previous day.

According to sosovalue, the price of $BTC is 68,718 USD, an increase of 2.11% from yesterday. The market cap of $BTC is 1.35 trillion USD, accounting for 50.2% of the total market cap; $BTC's 24-hour trading volume is 39.24 billion USD, making up 45.9% of the total trading volume.
The price of $ETH is 3,753.1 USD, up 0.662% from yesterday; the market cap of $ETH is 450.87 billion USD, representing 16.7% of the total market cap; $ETH's 24-hour trading volume is 46.76 billion USD, comprising 54.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 61.3% 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 Celsius Network. As of 05:55 today, its market cap is 51.61M, with a coin price of 1.3683 USD, witnessing a 24-hour increase of 150%.
The second is PolyDoge. As of 05:55 today, its coin price is 0.000000017190 USD, with a 24-hour increase of 71.6%.
The third is Turbo. As of 05:55 today, its coin price is 0.0048398 USD, showing a 24-hour increase of 67.7%.
In fourth place is Samoyedcoin. As of 05:55 today, its coin price is 0.012277 USD, with a 24-hour rise of 46%.
In fifth place is Kishu Inu. As of 05:55 today, its coin price is 0.00000000079000 USD, increasing by 42.9% 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, 14 are up and 2 are down. Notably, DeFi, GameFi, and NFT sectors are worth mentioning.
DeFi sector has risen 4.61% relative to the UTC 0 time, led by gains in uni (16.9%), perp (13.9%), and ldo (13.2%).
GameFi sector has increased 3.3% relative to UTC 0, with fitfi (14.5%), dar (14.5%), and ygg (12.6%) leading the rise.
NFT sector has risen 2.9%, with ogn (32%), TNSR (11.3%), and audio (8.29%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Grayscale GBTC and other ETFs, including ARKB and BITB, experienced significant net inflows. BlackRock's iBit led the net inflow for US Bitcoin spot ETFs, followed by ARKB, FBTC, and BITB. The total net inflow for US Bitcoin spot ETFs reached $235 million. Grayscale's GBTC recorded its fourth consecutive day of inflows, while concerns arise over potential outflows from its Ethereum fund, ETHE. Bitcoin spot ETFs have seen consistent net inflows for several days, with BlackRock's iBit leading the way. Bitcoin ETFs have attracted significant inflows despite a price correction. The U.S. spot Bitcoin ETF recorded its ninth and tenth consecutive days of net inflows, with BlackRock's iBit leading both days. Bitcoin spot ETFs have accumulated a total of 850,707 $BTC since January. The U.S. Bitcoin spot ETF has seen over $2 billion in net inflows in the past 10 days.
Next news: Marathon Digital, a prominent Bitcoin mining company, has entered into a partnership with Kenya to invest in green energy projects within the country. This collaboration aims to monetize stranded energy resources in Kenya and enhance the management of its renewable energy production. The deal signifies a significant step towards sustainable energy solutions in the cryptocurrency mining industry, aligning with global efforts to reduce carbon footprints and promote environmental sustainability.
Next news: Coinbase seeks appellate court review of a key legal issue in its lawsuit with the SEC, questioning whether digital asset transactions can be considered investment contracts regulated by the SEC in the absence of subsequent obligations on the issuer. The SEC contends that Coinbase lacks sufficient legal basis for its appeal.
Next news: Kabosu, the Shiba Inu known as the face of the Doge meme and Dogecoin, has passed away at the age of 17. The crypto community mourns her passing, celebrating her legacy as a symbol of community spirit and meme culture. Kabosu's owner, Atsuko Sato, announced her passing on her blog, with a farewell party planned in Narita City. Kabosu's image, which went viral in 2010, became iconic in internet culture and played a significant role in Dogecoin's popularity. Her legacy continues to inspire charitable initiatives and even political campaigns, highlighting her impact beyond the crypto world.
Next news: Qian Zhimin, the main culprit in a significant money laundering case involving 60,000 bitcoins, was sentenced to over 6 years in prison by the Southwark Court in London, UK. This case, which attracted attention due to Qian's attempt to purchase luxury homes in London, led to the discovery of 61,000 bitcoins in digital wallets, marking the UK's largest cryptocurrency seizure. The investigation revealed that these bitcoins were part of a
£5 billion investment fraud case in China from 2014 to 2017, with the funds being transferred abroad to purchase cryptocurrencies. Although Qian was not directly involved in the fraud, he played a key role in disguising the source of the laundered money.
Next news: The Ethereum Foundation is accelerating the development of formal policies to address potential conflicts of interest, following the disclosure by two of its researchers that they received a substantial amount of token incentives from the EigenLayer project. Aya Miyaguchi, the Executive Director, emphasized the importance of neutrality for the Foundation's role in the ecosystem and acknowledged that relying solely on culture and personal judgment is insufficient. The Foundation is working on these policies for some time and plans to share progress soon.
Next news: The SEC has approved nine Ethereum ETFs, predicting a significant influx of institutional capital into the Ethereum market, estimated between $15 to $45 billion within a year.
Next news: OKX withdraws its application for a Hong Kong VASP license and will stop providing centralized trading services to Hong Kong users starting May 31, 2024. The cryptocurrency exchange OKX announced that after careful consideration of the business development prospects, it decided to withdraw OKX HK's application for a Virtual Asset Service Provider (VASP) license. From May 31, 2024, OKX will stop providing centralized virtual asset trading services to Hong Kong users in accordance with regulatory requirements, but the withdrawal service will not be affected. After May 31, OKX will only support Hong Kong users to withdraw money. At the same time, OKX Web3 (self-hosted wallet) product services will continue to be provided to Hong Kong users. OKX reminds users not to deposit funds into OKX accounts after May 31, 2024. Unfulfilled orders before 23:59:59 on May 31, 2024, Hong Kong time will be automatically cancelled, and the balance will be deposited into the user's OKX account. Users must withdraw their assets to a self-hosted wallet or other third-party platform account before 23:59:59 on August 31, 2024. The remaining assets in the account after the deadline will be considered unclaimed assets and will be handled in accordance with the terms of service.
Next news: The SEC's unexpected approval of an Ethereum ETF raises questions about the decision's motivation and its implications for Ethereum and other blockchain technologies. Former SEC Chairman Jay Clayton believes trading of Ethereum ETFs is 'inevitable' despite pending questions. Ethereum ETFs could begin trading as early as July or August.
Next news: A Montenegrin court has overturned the previous ruling on the extradition of cryptocurrency entrepreneur Do Kwon to South Korea, where he is wanted due to the billions of dollars in losses caused by the collapse of Terra. The case will be sent back to the first instance court for retrial and ruling, meaning Do Kwon will not be extradited to South Korea to face charges for the time being.

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.