SoSo Daily Sept. 18 | Circle's USDC Now Accessible to Businesses in Brazil and Mexico Through Banks

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM Hong Kong time on September 17, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.17 trillion US dollars, witnessing an increase of 1.45% compared to yesterday; the total trading volume is 87.25 billion US dollars, marking an increase of 4.7% from the previous day.

According to sosovalue, the price of $BTC is 60,314 USD, an increase of 3.61% from yesterday. The market cap of $BTC is 1.19 trillion USD, accounting for 54.9% of the total market cap; $BTC's 24-hour trading volume is 38.71 billion USD, making up 44.4% of the total trading volume.
The price of $ETH is 2,341.8 USD, up 2.01% from yesterday; the market cap of $ETH is 281.81 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 14.49 billion USD, comprising 16.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 61% 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 23:55 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Fight to MAGA. As of 23:55 today, its market cap is 8.10M, with a coin price of 0.0082220 USD, witnessing a 24-hour increase of 90.4%.
The second is UXLINK. As of 23:55 today, its coin price is 0.64230 USD, with a 24-hour increase of 50.2%.
The third is KALM. As of 23:55 today, its coin price is 0.049150 USD, showing a 24-hour increase of 50%.
In fourth place is BarnBridge. As of 23:55 today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Scallop-BNB. As of 23:55 today, its coin price is 0.23450 USD, increasing by 34.6% 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 16 sectors, 16 are up and 0 are down. Notably, GameFi, AI, and Layer2 sectors are worth mentioning.
GameFi sector has risen 5.84% relative to the UTC 0 time, led by gains in bigtime (23.3%), MAVIA (17.6%), and kap (14.6%).
AI sector has increased 5.39% relative to UTC 0, with tao (12.4%), AI (10.8%), and cudos (10.8%) leading the rise.
Layer2 sector has risen 4.49%, with DYM (24.4%), SAGA (23.7%), and TIA (15.2%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Circle's USDC stablecoin is now available to businesses in Brazil and Mexico through the banking system, expanding beyond its previous availability solely through crypto exchanges.
Next news:Crypto venture capital firm Dragonfly Capital is seeking to raise $500 million for its fourth fund, which will invest in early-stage projects. The San Francisco-based firm has already raised $250 million and aims to close the fundraising by the first quarter of next year. The details of the fundraising are not yet public, and Dragonfly has not responded to requests for comment.
Next news:Wintermute is launching a new predictions market named OutcomeMarket, focusing initially on TRUMP and HARRIS memecoins, as the U.S. election approaches. This market will utilize Chaos Labs’ Edge Proofs Oracle for secure data feeds and will be available on multiple networks including Ethereum and Arbitrum. The platform aims to facilitate betting across different blockchains without the need for asset bridging, enhancing accessibility and participation. Wintermute is collaborating with market makers like Bebop, WOO, and Backpack to support the launch of these ERC-20 compatible token markets.
Next news:The U.S. Securities and Exchange Commission (SEC) has reached a settlement with audit firm Prager Metis, which has agreed to pay $1.95 million to resolve charges of misconduct during its audits of the now-defunct cryptocurrency exchange FTX. The SEC accused Prager Metis of submitting two audit reports that misrepresented FTX's financial status and failed to adhere to generally accepted auditing standards from February 2021 to April 2022. FTX collapsed after a crisis of confidence led to massive customer withdrawals, revealing that most of its assets were illiquid altcoins. FTX's founder, Sam Bankman-Fried, was convicted on seven fraud-related charges and sentenced to 25 years in prison, with plans to appeal. The SEC highlighted Prager Metis's failure to assess its capabilities for the audit and to disclose risks related to FTX's ties with Alameda Research. Prager Metis will pay a $1 million penalty and $205,000 in disgorgement, pending court approval.
Next news:Fermah, a developer of a universal proof generation layer, has successfully raised $5.2 million in a seed funding round. The round was co-led by the a16z Crypto Startup Accelerator (CSX) fund and venture capital firm Lemniscap, with additional support from a variety of investors including Bankless Ventures, Longhash Ventures, and notable angel investors like Balaji Srinivasan. Fermah plans to use the funds to expand its team and enhance its product offerings, focusing on the marketplace for zero-knowledge (ZK) proof generation. Fermah's CEO, Vanishree Rao, highlighted the potential for a boom in ZK applications, indicating a significant development phase for the company.
Next news:Foresight News report, according to Bitget market data, Bitcoin has risen above 60000 USDT, currently trading at 60022.52 USDT, with a daily increase of 3.10%.
Next news:Wu learned that, according to an official announcement, the TON Foundation will collaborate with Curve Finance to incubate a stablecoin exchange project based on TON. The project will leverage Curve's CFMM technology to enhance the stablecoin trading experience, reduce price volatility impact, and boost liquidity growth on the TON blockchain. The project application deadline is September 24th.
Next news:Binance has reiterated its stance that it does not own, control, or operate WazirX, distancing itself from the recent $230 million hack on the crypto exchange. The hack, which occurred on July 18, involved the unauthorized transfer of crypto assets from WazirX's multisig wallet on the Ethereum network. Following the incident, Zettai, the parent company of WazirX, sought a moratorium from Singapore's High Court to restructure its liabilities. Binance has been accused by Zettai's director, Nischal Shetty, of misleading statements regarding their relationship, which Binance denies, stating that the dispute over ownership will not resolve the ongoing legal issues. Binance also clarified that it had never completed the acquisition of WazirX due to Zettai's failure to meet obligations and was not involved in the operations of the compromised wallet.
Next news:Bitcoin remains stable above $58,000 as expectations for a significant Federal Reserve rate cut increase. Market predictions now see a nearly 70% chance of a 50 basis points reduction, bringing rates to the 4.7%-5% range, a significant jump from the 25% probability seen a month ago.
Next news:A new prediction market platform, Limitless Network, has raised $3 million in a pre-seed funding round led by 1confirmation. Unlike Polymarket, which focuses on election-related markets, Limitless Network is distinguishing itself by offering contracts that expire quickly and allowing users to create their own markets.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.