SoSo Daily Oct. 3 | Top SEC enforcement official Gurbir S. Grewal steps down

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM UTC0 time on October 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.23 trillion US dollars, witnessing a decrease of 2.7% compared to yesterday; the total trading volume is 119.72 billion US dollars, marking a decline of 20.4% from the previous day.

According to sosovalue, the price of $BTC is 61,180 USD, a decrease of 0.504% from yesterday. The market cap of $BTC is 1.21 trillion USD, accounting for 54.3% of the total market cap; $BTC's 24-hour trading volume is 37.32 billion USD, making up 31.2% of the total trading volume.
The price of $ETH is 2,383.2 USD, down 3.83% from yesterday; the market cap of $ETH is 286.87 billion USD, representing 12.9% of the total market cap; $ETH's 24-hour trading volume is 18.35 billion USD, comprising 15.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 46.5% 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 05:55 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Taki. As of 05:55 today, its market cap is 12.48M, with a coin price of 0.010656 USD, witnessing a 24-hour increase of 115%.
The second is GALAXIS Token. As of 05:55 today, its market cap is 831.70K, with a coin price of 0.0025700 USD, witnessing a 24-hour increase of 49.4%.
The third is Efforce. As of 05:55 today, its market cap is 2.55M, with a coin price of 0.0041130 USD, showing a 24-hour increase of 26%.
In fourth place is Shyft Network. As of 05:55 today, its market cap is 5.78M, its coin price is 0.0026050 USD, with a 24-hour rise of 23.4%.
In fifth place is Saros. As of 05:55 today, its market cap is 5.33M, its coin price is 0.0020290 USD, increasing by 23.3% 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, all 16 are down. Notably, DePIN, AI, and Payment sectors are worth mentioning.
DePIN sector has fallen -4.2% relative to the UTC 0 time, led by declines in MSN (-12%), stos (-11.3%), and hnt (-9.08%).
AI sector has decreased -4.36% relative to UTC 0, with spec (-10.9%), MASA (-7.62%), and RENDER (-6.45%) leading the drop.
Payment sector has fallen -7.2%, with xrp (-10.7%), velo (-5.52%), and xlm (-4.03%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Securities and Exchange Commission Enforcement Director Gurbir S. Grewal is leaving the agency after 21 years. Sanjay Wadhwa will serve as temporary acting director and Sam Waldon as acting deputy director. Grewal filed enforcement actions against prominent crypto companies and authorized over 100 enforcement actions specifically against crypto firms. He also authorized 2,400 enforcement matters, bringing in over $20 billion in disgorgement, prejudgment interest, and civil penalties. Gensler's term is set to expire on June 5, 2026.
Next news:Aptos Labs has officially announced the acquisition agreement for HashPalette Inc., which is a subsidiary of HashPort Inc. and the developer of the Palette blockchain. As part of the agreement, HashPort will migrate the Palette Chain and HashPalette applications to the Aptos network, including the EXPO2025 digital wallet for the Osaka Kansai 2025 World Expo. The governance token of Palette Chain, PLT, will be exchanged for Aptos's native token, APT. The transaction is subject to customary closing conditions and approvals.
Next news:OpenAI has completed a new funding round of $6.60 billion, led by Thrive Capital. According to Crunchbase data, OpenAI has raised a total of $17.90 billion in funding.
Next news:The U.S. Securities and Exchange Commission announced it would appeal a federal judge's ruling in its case against Ripple on Wednesday.
Next news:The Securities and Exchange Commission is appealing the Aug. 7 judgment from the United States Court of Appeals for the Second Circuit regarding the web3 payments firm Ripple. A judge ordered Ripple to pay a civil penalty of $125 million, well below the SEC's initial request of a $2 billion penalty. The SEC sued Ripple in 2020, claiming that Ripple's sale of XRP violated securities laws.
Next news:

According to SoSoValue, as of October 2th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $91.76M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $27.31M, bringing GBTC's total historical net outflow to $20.12B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 0.00 ，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $422.31M.

The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $21.08M, with FBTC's total historical net inflow reaching $9.87B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $55.85B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.64%. The historical cumulative net inflow has reached $18.53B.

Source: https://sosovalue.com/assets/etf

Next news:An Ethereum ICO participant sold 19,000 $ETH in the past two days, approximately 47.54 million USD.
Next news:According to @EmberCN, BitMEX founder Arthur Hayes expressed optimism about Memecoins on September 27 and purchased $250,000 worth of PEPE (24.39 billion units) and $250,000 worth of MOG (167.51 billion units). Five hours ago, these PEPE and MOG were transferred to a centralized exchange (CEX), and their value has dropped to $460,000, resulting in a loss of $40,000 upon sale.
Next news:According to SoSoValue data, yesterday (Eastern Time, October 2), the total net inflow for Ethereum spot ETFs was 14.45 million USD. On the same day, Grayscale's Ethereum Trust ETF (ETHE) experienced a net outflow of 5.40 million USD, bringing ETHE's historical net outflow to 2.94 billion USD. The Ethereum spot ETF with the highest single-day net inflow yesterday was BlackRock's ETF (ETHA), which saw a net inflow of 18.04 million USD. Following that was Franklin's ETF (EZET), with a single-day net inflow of 1.81 million USD.
Next news:The ruling paves the way for election prediction markets to operate in the United States.

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.