SoSo Daily May 25

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on May 25, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.71 trillion US dollars, witnessing an increase of 2.61% compared to the previous day; the total trading volume is 72.68 billion US dollars, marking a decline of 53.2% from the previous day.

According to sosovalue, the price of $BTC is 69,110 USD, a 24-hour increase of 2.61%. The market cap of $BTC is 1.36 trillion USD, accounting for 50.2% of the total market cap; $BTC's 24-hour trading volume is 39.24 billion USD, making up 54% of the total trading volume.
The price of $ETH is 3,739.4 USD, up 0.722% from yesterday; the market cap of $ETH is 449.22 billion USD, representing 16.6% of the total market cap; $ETH's 24-hour trading volume is 46.76 billion USD, comprising 64.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 58.3% 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 11:55, the top five gainers are:
Top 1 gainer is PolyDoge. As of 11:55 today, its market cap is 26.14M, with a coin price of 0.000000030620, witnessing a 24-hour increase of 196%.
The second is Samoyedcoin. As of 11:55 today, its coin price is 0.014693, with a 24-hour increase of 72.3%.
The third is Lifeform. As of 11:55 today, its coin price is 0.22083, showing a 24-hour increase of 42.5%.
In fourth place is BounceBit. As of 11:55 today, its coin price is 0.46630, with a 24-hour rise of 41%.
In fifth place is Celsius Network. As of 11:55 today, its coin price is 1.0563, increasing by 38.6% 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, GameFi sector has risen 4.13% relative to the UTC 0 time, led by gains in raca (14.8%), ygg (13%), and bigtime (12.9%).
DeFi sector has increased 3.83% relative to UTC 0, with uni (17.3%), perp (12.3%), and klima (11.5%) leading the rise.
Meme sector has risen 3.13%, with dino (29.7%), kishu (19.3%), and silly (18.1%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is: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: 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: Ethereum crossed $3,900, touching $3,920 as of writing, ahead of the expected spot ETF decision later today.
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: 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: 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 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.
Next news: The SEC has approved Form 19b-4 for eight Ethereum ETF issuers: BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. The ETF issuers still need to have their S-1 registration statements go effective before they can begin trading. It is currently unclear how long this process will take, but Bloomberg analyst James Seyffart speculates that it could take several weeks.
Next news: MetaLex, a cryptocurrency governance consulting firm founded by Gabriel Shapiro, has completed a $2.75 million seed financing round, valuing the company at $27.5 million. The round was led by Cyber Fund. MetaLex aims to standardize governance for crypto projects through decentralization, offering a DAO operating system that automates governance decisions with smart contracts for funding, emergency shutdowns, and venture capital investments. Shapiro describes this system as a "cybernetic organization" or "Borg."

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.