SoSo Daily Oct. 6 | The UAE exempts value-added tax on cryptocurrency transfers and conversions.

According to sosovalue, the price of $BTC is 61,911 USD, a decrease of 0.352% from yesterday. The market cap of $BTC is 1.22 trillion USD, accounting for 53.9% of the total market cap; $BTC's 24-hour trading volume is 7.61 billion USD, making up 16.9% of the total trading volume.
The price of $ETH is 2,408.4 USD, down 0.462% from yesterday; the market cap of $ETH is 289.92 billion USD, representing 12.8% of the total market cap; $ETH's 24-hour trading volume is 6.10 billion USD, comprising 13.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 30.5% 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 17:55 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is OG Fan Token. As of 17:55 today, its market cap is 24.07M, with a coin price of 4.8180 USD, witnessing a 24-hour increase of 54.5%.
The second is Shark Cat. As of 17:55 today, its market cap is 25.97M, with a coin price of 0.026240 USD, witnessing a 24-hour increase of 41.8%.
The third is Vega Protocol. As of 17:55 today, its market cap is 794.20K, with a coin price of 0.012800 USD, showing a 24-hour increase of 36.2%.
In fourth place is Taki. As of 17:55 today, its market cap is 9.01M, its coin price is 0.0076910 USD, with a 24-hour rise of 33.5%.
In fifth place is ZeroLend. As of 17:55 today, its market cap is 8.74M, its coin price is 0.00034970 USD, increasing by 26.2% 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, 14 are up and 2 are down. Notably, the Meme sector is worth mentioning.
The Meme sector has risen 3.97% relative to the UTC 0 time, led by gains in SC with a 42.9% increase, trump with a 23.4% increase, and Neiro with a 21.7% increase.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Federal Tax Authority (FTA) of the United Arab Emirates announced on October 2nd revisions to the country's value-added tax (VAT) rules. The new rules include VAT exemptions for additional services, including the management of investment funds and the transfer and conversion of virtual assets. PwC noted that the exemptions for the transfer and conversion of virtual assets will be retrospectively applicable from January 1, 2018, and companies dealing with virtual assets should pay special attention to the recovery of their input VAT. (Cointelegraph)
Next news:According to Foresight News and reported by ICO Drops, Telegram will launch a "Gift" feature, allowing recipients to choose to display the gifts on their profile or sell them in exchange for "Stars." Additionally, some gifts will be available in limited quantities, and Telegram will support the conversion of these gifts into TON-based NFTs later this year. Users will be able to auction and trade these tokenized gifts outside of Telegram, with ownership recorded on the blockchain.
Next news:According to Decrypt, Shan Aggarwal, Vice President of Corporate and Business Development at Coinbase, stated that negotiations between Coinbase and large financial firms have "shifted" over the past six to nine months, especially as the issue of cryptocurrency in the United States increasingly becomes a bipartisan consensus. He mentioned that these conversations could ultimately lead to more traditional financial participants joining Web3 and driving the mass adoption of digital assets. However, the "troublesome" entry point remains a significant pain point in attracting the next wave of Web3 users to engage with blockchain.
Next news:A whale holding 3.37 trillion PEPE tokens purchased 909 thousand EIGEN tokens between October 3 and 4, and then sold 772 thousand tokens when the EIGEN price dropped. Currently, they still hold 139.80 thousand EIGEN tokens, with a loss of approximately $407 thousand.
Next news:According to Wu, Tether CEO Paolo Ardoino tweeted that today marks the 10th anniversary of Tether's establishment. Tether aims to promote financial inclusion, particularly assisting those who are unable to open bank accounts due to low income or living in high-inflation countries. Currently, hundreds of millions of people are using USDT as a digital dollar in their daily lives, with tens of millions of new wallets created each quarter. Tether focuses on providing stable fintech solutions to populations overlooked by the traditional financial system and is gradually expanding into telecommunications, artificial intelligence, education, and energy sectors, symbolizing decentralization, resilience, and stability. Additionally, Tether is set to launch a documentary titled "Stability and Freedom in Chaos" to celebrate the 10th anniversary of USDT's issuance.
Next news:The Sui-based meme project HIPPO donated 5 million Thai Baht (approximately 150 thousand USD) to the Khao Kheow Zoo in Thailand.
Next news:UniSat releases its fourth quarter roadmap, which includes activating runes on FB, supporting CAT20, and updating PizzaSwap, among other features.
Next news:According to the prediction website Polymarket, the probability of Trump being elected as the President of the United States in 2024 has risen to 50.8%, while the probability of Vice President Harris being elected has decreased to 48.4%.
Next news:According to a recent research report from the cryptocurrency analysis platform CryptoQuant, Bitcoin may face potential selling pressure as the dollar value of Bitcoin exposure among long-term holders (LTH) has decreased by billions. The analysis indicates that as Bitcoin prices approach historical highs, long-term holders are adopting conservative strategies while speculators are beginning to enter the market. CryptoQuant analysts suggest that this indicates long-term holders may be taking profits or closing positions. Meanwhile, the behavior of short-term holders (STH) is markedly different, as they may be taking on more risk or increasing their buying positions. The study also found that the realized price of Bitcoin moved over the past day to week closely correlates with the spot price of Bitcoin. Analysts warn that these rejections could mean that momentum is weakening after prices attempt to maintain above the realized price, which may lead to a short-term correction.
Next news:According to Deep Tide TechFlow news, on October 6, Zhu Su, co-founder of Three Arrows Capital, posted on social media that he has sold TON at a loss and bought TRUMP.

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.