SoSo Daily Sept. 29 | Dutch regulator warns of crypto pump-and-dump risks ahead of MiCAR

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM UTC0 time on September 29, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.42 trillion US dollars, witnessing a decrease of 0.644% compared to yesterday; the total trading volume is 59.34 billion US dollars, marking a decline of 12.9% from the previous day.

According to sosovalue, the price of $BTC is 65,818 USD, an increase of 0.282% from yesterday. The market cap of $BTC is 1.30 trillion USD, accounting for 53.7% of the total market cap; $BTC's 24-hour trading volume is 13.03 billion USD, making up 22% of the total trading volume.
The price of $ETH is 2,662.8 USD, down 0.474% from yesterday; the market cap of $ETH is 320.51 billion USD, representing 13.2% of the total market cap; $ETH's 24-hour trading volume is 9.32 billion USD, comprising 15.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 37.7% 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 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Petals. As of 17:55 today, its market cap is 298.04K, with a coin price of 0.000021100 USD, witnessing a 24-hour increase of 78.8%.
The second is ArbDoge AI. As of 17:55 today, its market cap is 90.91M, with a coin price of 0.00000000048350 USD, witnessing a 24-hour increase of 43.9%.
The third is Cetus Protocol. As of 17:55 today, its market cap is 60.38M, with a coin price of 0.18910 USD, showing a 24-hour increase of 40.2%.
In fourth place is EthereumPoW. As of 17:55 today, its market cap is 418.77M, its coin price is 3.8840 USD, with a 24-hour rise of 36.1%.
In fifth place is KAP Games. As of 17:55 today, its market cap is 4.83M, its coin price is 0.037990 USD, increasing by 30.3% 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, 12 are up and 4 are down. Notably, AI, Payment, and NFT sectors are worth mentioning.
AI sector has risen 3.1% relative to the UTC 0 time, led by gains in arkm (13.4%), tao (8.1%), and nfp (4.2%).
Payment sector has increased 2.9% relative to UTC 0, with xrp (4.68%), xno (2.79%), and clv (2.38%) leading the rise.
NFT sector has risen 2.27%, with blur (7.08%), opul (6.46%), and dego (5.43%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Dutch AFM warns of crypto pump-and-dump risks ahead of MiCAR launch
Next news:According to monitoring by Shield, the hacker who stole 12 thousand spWETH (worth approximately 32.40 million USD) has today transferred 20 $ETH (worth about 52.90 thousand USD) to a centralized exchange (CEX).
Next news:GSR deposited 310 thousand ZRO into Binance 3 hours ago, valued at approximately 1.54 million USD. Currently, GSR still holds 5.45 million ZRO (approximately 27.07 million USD), while Amber Group holds 4.44 million ZRO (approximately 22.11 million USD).
Next news:A certain whale has once again spent 2,000 SOL to purchase MOODENG, valued at approximately 311 thousand USD, becoming the second largest holder. Currently, this whale has invested 27,848 SOL (approximately 4.34 million USD) to buy 17.73 million MOODENG, with an average price of 0.245 USD.
Next news:Ki Young Ju, the founder of CryptoQuant, posted on the X platform, emphasizing that cryptocurrencies and Web3 are not scams under good regulation. He pointed out that Web3 achieves borderless collaboration through tokenization incentives, functioning more like a "protocol" rather than a "company," and has the potential to fundamentally change human collaboration models. Ki Young Ju believes that despite the existence of fraudulent activities, it should not overshadow the immense potential of blockchain technology. He calls for the establishment of intelligent regulation to transform Web3 into a stable and trustworthy space, and emphasizes that politicians' attention to cryptocurrencies is crucial for advancing regulatory progress.
Next news:According to Ledger Insights, HSBC has issued the first HKD 1 billion (one-year) digital note listed on the Hong Kong Stock Exchange through its HSBC Orion Distributed Ledger Technology (DLT) platform. The note has an interest rate of 3.6% and is operated on the platform by the Central Securities Depository (CSD) of Hong Kong, CMU, with a settlement window of two days. This is also the first digital bond issued in Hong Kong based on UK law.
Next news:According to Wu's report and Sina Finance, the 2024 Tsinghua Wudaokou Chief Economist Forum was held on September 28 in Beijing. Former Vice Minister of Finance Zhu Guangyao attended and delivered a speech. Zhu Guangyao emphasized the importance of studying the development of cryptocurrencies, stating, "It indeed has negative impacts, and we must fully recognize its risks and the harm it poses to capital markets. However, we must also study the latest changes and policy adjustments internationally, as this is a crucial aspect of the development of the digital economy." Zhu Guangyao reviewed the development of cryptocurrencies, noting that for the past decade, the United States has considered cryptocurrencies to have a significant destructive power against international anti-money laundering and anti-terrorist financing efforts. Additionally, the extreme volatility of cryptocurrency values has had a tremendous impact on international financial markets. However, this year, there has been a significant evolution in U.S. policy. Zhu Guangyao pointed out that Trump's campaign platform explicitly included cryptocurrencies, and he publicly stated, "We must embrace cryptocurrencies, or else China will replace us." The U.S. Securities and Exchange Commission has also approved the listing of 11 Bitcoin ETFs on the stock and futures markets. Meanwhile, in emerging market countries and BRICS nations, Russia, South Africa, Brazil, and India have also taken action.
Next news:According to DLNews, Canadian securities regulators have extended the compliance deadline for cryptocurrency trading platforms to the end of 2024. Previously, there have been concerns about the risks associated with fiat-backed stablecoins, and the Canadian Securities Administrators (CSA) have prioritized investor protection. The new deadline was initially set for October, giving exchanges more time to meet regulatory requirements or propose safer alternatives. If these platforms fail to comply by the end of the year, they may face penalties, including being banned from offering certain products to Canadian users. Over the past few years, companies such as Binance, KuCoin, and Poloniex have been forced to exit Canada. Despite the challenges, exchanges like Kraken, Coinbase, and Bitget continue to operate under these stricter regulations.
Next news:Huobi HTX will list EigenLayer (EIGEN) and will open the EIGEN deposit channel today at 21:00. The withdrawal channel will open on October 2 at 22:00. The EIGEN/USDT spot trading is expected to open on October 1 after the deposit amount meets market trading demand.
Next news:Su Zhu, the founder of Three Arrows Capital, commented on "FTX is expected to distribute $16 billion to creditors in the fourth quarter," stating that even if this amount cannot fully return to the cryptocurrency market, it is still a significant figure and may hint at boosting market conditions.

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.