SoSo Daily Oct. 3 | Grayscale Launches New Fund for Aave Governance Token Exposure

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 PM UTC0 time on October 3, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.19 trillion US dollars, witnessing a decrease of 3.89% compared to yesterday; the total trading volume is 122.41 billion US dollars, marking a decline of 6.77% from the previous day.

According to sosovalue, the price of $BTC is 60,627 USD, a decrease of 1.62% from yesterday. The market cap of $BTC is 1.20 trillion USD, accounting for 54.6% of the total market cap; $BTC's 24-hour trading volume is 43.94 billion USD, making up 35.9% of the total trading volume.
The price of $ETH is 2,344.2 USD, down 4.19% from yesterday; the market cap of $ETH is 282.18 billion USD, representing 12.9% of the total market cap; $ETH's 24-hour trading volume is 22.34 billion USD, comprising 18.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.1% 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 FARCANA. As of 17:55 today, its market cap is 11.05M, with a coin price of 0.012600 USD, witnessing a 24-hour increase of 39.8%.
The second is WeSendit. As of 17:55 today, its market cap is 4.51M, with a coin price of 0.010910 USD, witnessing a 24-hour increase of 34.1%.
The third is Saros. As of 17:55 today, its market cap is 5.48M, with a coin price of 0.0020870 USD, showing a 24-hour increase of 22.8%.
In fourth place is XYO Network. As of 17:55 today, its market cap is 93.10M, its coin price is 0.0066830 USD, with a 24-hour rise of 20.2%.
In fifth place is WXT Token. As of 17:55 today, its market cap is 14.41M, its coin price is 0.0062640 USD, increasing by 18.9% 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 16 sectors, 0 are up and 16 are down. Notably, GameFi, AI, and Payment sectors are worth mentioning.
GameFi sector has fallen -5.44% relative to the UTC 0 time, led by declines in gmee (-15.3%), beam (-13.4%), and GOG (-12.1%).
AI sector has decreased -5.82% relative to UTC 0, with nos (-13.7%), MASA (-12.6%), and gtai (-9.79%) leading the drop.
Payment sector has fallen -7%, with clv (-22.6%), xrp (-10.4%), and RUBY (-7.78%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Grayscale Investment has launched the Grayscale Aave Trust, a new fund that provides investors exposure to the governance token AAVE. The trust is available for eligible individual and institutional accredited investors. Aave is a decentralized finance crypto platform that allows investors to borrow and lend crypto using smart contracts. Grayscale aims to revolutionize traditional finance by leveraging blockchain technology and smart contracts to optimize lending and borrowing.
Next news:Binance will expand monitoring labels to BLZ, CLV, KEY, PROS, and VITE, and will remove the seed labels for PENDLE and SEI.
Next news:Binance Labs has invested in Sophon, a ZKsync 'elastic chain' being built using Matter Labs' framework. The investment brings Sophon's total funding to over $70 million. Sophon aims to create a seamless ecosystem integrating web3 with everyday lifestyle applications. The mainnet launch is expected next month.
Next news:OKX will launch spot trading for PayPal USD (PYUSD).
Next news:Mercado Bitcoin plans to offer its corporate and retail customers support for international payments, allowing users to transact with Brazilian Reais.
Next news:Japanese investment firm Metaplanet Inc. reported earning $1.46 million in bitcoin by selling put options and boosting its holdings. The company sold 223 bitcoin put options to increase its bitcoin reserves and reinforce its balance sheet. Metaplanet now holds a total of 530.717 bitcoin, worth about $32.4 million. The margin collateral of $13.8 million was sourced from new capital raised from the company's stock acquisition rights exercise. Metaplanet's strategy is designed to potentially increase its bitcoin holdings without additional financial risk.
Next news:BTC has fallen below 61,000 USDT, currently priced at 60,939 USDT, with a 24-hour decline of 2.05%.
Next news:Starting next year, Swift said banks in North America, Europe and Asia will begin live trials of digital asset and currency transactions over its global messaging network. The trials will leverage Swift’s existing global network and interlink various digital and traditional currency platforms, providing a single system for banks to transact across borders with digital and fiat currencies. The announcement follows a series of recent experiments by Swift, working with web3 services firm Chainlink as an enterprise abstraction layer to connect its network to the Ethereum Sepolia test network.
Next news:Layer has completed a $6 million seed round of financing, led by 1kx, with participation from Fabric Ventures, Arrington Capital, and IOBC. Angel investors include Sreeram Kannan from EigenLayer, Rok Kopp and Mike Silagadze from Ether.fi, and former BlackRock employee Paul Taylor.
Next news:Standard Chartered's global head of digital assets research Geoff Kendrick believes that geopolitical risks could drive bitcoin below $60,000, creating a buying opportunity. He suggests that investors should consider buying the dip due to Donald Trump's rising chances in the U.S. presidential election race. Kendrick also highlights the impact of the shifting odds between Trump and Kamala Harris on bitcoin's post-election outlook. He explains that while geopolitical concerns may push prices lower, these concerns also seem to increase Trump's odds, potentially benefiting bitcoin. On the other hand, a Harris victory could be bearish for bitcoin, possibly delaying regulatory advancements. Kendrick notes the significant influx of bitcoin call option positions, indicating traders' bets on upward price movements. He emphasizes that bitcoin is not a safe haven against geopolitical tensions but rather a hedge against traditional finance issues. Bitcoin's price currently sits at around $60,638.

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.