SoSo Daily Oct. 8 | US Bankruptcy Judge Approves FTX Reorganization Plan

According to sosovalue, the price of $BTC is 62,517 USD, a decrease of 1.36% from yesterday. The market cap of $BTC is 1.24 trillion USD, accounting for 54.4% of the total market cap; $BTC's 24-hour trading volume is 32.63 billion USD, making up 32.9% of the total trading volume.
The price of $ETH is 2,428.1 USD, down 2.29% from yesterday; the market cap of $ETH is 292.29 billion USD, representing 12.9% of the total market cap; $ETH's 24-hour trading volume is 15.40 billion USD, comprising 15.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 48.4% 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 OG Fan Token. As of today, its market cap is 17.50M, with a coin price of 11.883 USD, witnessing a 24-hour increase of 111%.
The second is Thena. As of today, its market cap is 21.18K, with a coin price of 0.00042540 USD, witnessing a 24-hour increase of 87.2%.
The third is Santos FC Fan Token. As of today, its market cap is 26.92M, with a coin price of 4.8540 USD, showing a 24-hour increase of 64.2%.
In fourth place is Lazio Fan Token. As of today, its market cap is 15.95M, its coin price is 1.9200 USD, with a 24-hour rise of 41%.
In fifth place is Wing Finance. As of today, its market cap is 28.12M, its coin price is 6.0810 USD, increasing by 39% 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, RWA, and Meme sectors are worth mentioning.
DePIN sector has fallen -3.58% relative to the UTC 0 time, led by declines in MSN (-19.3%), flt (-9.33%), and wsi (-8.94%).
RWA sector has decreased -3.99% relative to UTC 0, with PRCL (-8.16%), smt (-6.79%), and tru (-6.37%) leading the drop.
Meme sector has fallen -4.64%, with SC (-16.8%), popcat (-15.4%), and michi (-14.5%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A U.S. bankruptcy judge has approved FTX's reorganization plan, allowing for the distribution of funds to creditors. The plan ensures that 98% of creditors will receive at least 118% of their claim value in cash. However, there were objections to the plan, with some creditors advocating for payouts in cryptocurrencies instead of cash. The judge rejected the proposal for in-kind distributions and reaffirmed that the value of FTT, the native token of the exchange, is zero. The possibility of a reboot of FTX, known as 'FTX 2.0,' was ruled out as no investors were ready to commit capital. FTX filed for bankruptcy in 2022, and its CEO, Sam Bankman-Fried, was found guilty of wire fraud and conspiracy to commit wire fraud.
Next news:

According to SoSoValue, as of October 7th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $235.19M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00 , bringing GBTC's total historical net outflow to $20.14B.

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 $103.68M, with FBTC's total historical net inflow reaching $9.95B.

Following that, BlackRock's ETF IBIT had a daily net inflow of $97.88M, with IBIT's total historical net inflow reaching $21.66B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $58.81B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.72%. The historical cumulative net inflow has reached $18.73B.

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

Next news:Former U.S. President Donald Trump’s odds of winning the upcoming election have risen to 50.6% on the decentralized prediction market platform Polymarket, surpassing current Vice President Kamala Harris' 48.4%. Stakes on Trump and Harris have fluctuated back and forth on the $1.3 billion Polymarket bet ever since current President Joe Biden exited the election in July. While Harris took the lead on Polymarket for a significant portion of September, bets on Trump’s win grew this month. Cryptocurrency emerged as a significant topic during the 2024 presidential election as Trump repeatedly made his support for crypto, NFTs, and DeFi clear. After keeping silent on the subject for weeks, Harris said last month that she intends to encourage growth in “digital assets.”
Next news:According to Cointelegraph, Bitcoin financial services company Fold has submitted an S-4 filing to the U.S. Securities and Exchange Commission in preparation for going public. The Fold treasury currently holds over 1,000 Bitcoins. Founded in 2019, users can earn Bitcoin rewards through its debit card, similar to credit card cashback. The company currently has 574 thousand accounts.
Next news:According to SoSoValue data, on October 7 (Eastern Time), the total net inflow for the Ethereum spot ETF was zero, marking the second trading day since its launch with a total net inflow of zero. The first instance of a single-day net inflow of zero occurred on August 30 (Eastern Time). As of the time of this report, the total net asset value of the Ethereum spot ETF is $6.70 billion, with the ETF net asset ratio (the market value's proportion of Ethereum's total market value) reaching 2.28%. The historical cumulative net outflow has reached $561 million.
Next news:According to Wu, the Shanghai Composite Index opened with a significant increase of 10.13%, the Shenzhen Component Index rose by 12.67%, and the ChiNext Index surged by 18.44%.
Next news:Sen. Elizabeth Warren will debate lawyer John Deaton twice in October. Many crypto proponents suggested the race could be a referendum on digital asset policy in the US Senate, with polls showing Warren leading by at least 20 points.
Next news:According to Protos, a United Nations report indicates that Telegram has become a haven for criminal networks in Southeast Asia, assisting them in laundering money with cryptocurrencies, trading hacked data, and acquiring fraud tools. The United Nations states that end-to-end encrypted applications have fundamentally changed the way organized crime operates. Criminal enterprises in Southeast Asia generate annual revenues between 27.40 billion and 36.50 billion USD. Unlicensed cryptocurrency exchanges are also advertising money laundering services on the application. One advertisement identified by the United Nations claims, "We transfer 3 million USDT stolen from overseas every day."
Next news:The Chief Executive Officer of the Hong Kong Securities and Futures Commission, Ashley Alder, stated that the completion of the entire framework related to virtual assets will take at least until next year. The Commission has issued the third license to a Hong Kong virtual asset exchange, and an additional 11 platforms are currently applying for licenses. New licensing regimes will also be established for cryptocurrency over-the-counter trading services and cryptocurrency custody services.
Next news:According to Wu, via @EmberCN, a whale that obtained 150 thousand $ETH through an ICO has transferred 5,000 $ETH ($12.22 million) to Kraken just 4 hours ago. Over the past two weeks, he has sold 45 thousand $ETH ($113.20 million) at an average price of $2,516. So far, he has sold 60 thousand $ETH ($149.68 million) out of the 150 thousand $ETH he acquired through the ICO: In July 2019, he sold 5,000 $ETH ($1.09 million) at a price of $218; in June 2024, he sold 10,000 $ETH ($35.39 million) at a price of $3,539; and in September to October 2024, he sold 45,000 $ETH ($113.20 million) at a price of $2,516. He currently holds 94,540 $ETH ($230.30 million). The additional 4,540 $ETH comes from the staking rewards he received by keeping $ETH on platforms like Lido and Rocket Pool.

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.