SoSo Daily Oct 16 | Blockstream Secures $210 Million to Drive Layer 2 Growth and Expand Bitcoin Treasury

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM UTC0 time on October 15, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.42 trillion US dollars, witnessing a decrease of 1.29% compared to yesterday; the total trading volume is 137.59 billion US dollars, marking an increase of 9.54% from the previous day.

According to sosovalue, the price of $BTC is 67,052 USD, an increase of 1.46% from yesterday. The market cap of $BTC is 1.33 trillion USD, accounting for 54.8% of the total market cap; $BTC's 24-hour trading volume is 51.87 billion USD, making up 37.7% of the total trading volume.
The price of $ETH is 2,606.6 USD, down 0.881% from yesterday; the market cap of $ETH is 313.80 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 21.95 billion USD, comprising 16% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 53.7% 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 23:55 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is DeepBook (DEEP). As of 23:55 today, its market cap is 84.50M, with a coin price of 0.033800 USD, witnessing a 24-hour increase of 78.9%.
The second is Neon (NEON). As of 23:55 today, its market cap is 26.28M, with a coin price of 0.45549 USD, witnessing a 24-hour increase of 28.4%.
The third is Satoxcoin (SATOX). As of 23:55 today, its market cap is 557.05K, with a coin price of 0.00015680 USD, showing a 24-hour increase of 26.9%.
In fourth place is Storj (STORJ). As of 23:55 today, its market cap is 86.09M, its coin price is 0.59870 USD, with a 24-hour rise of 26.4%.
In fifth place is WiFi Map (WIFI). As of 23:55 today, its market cap is 16.72M, its coin price is 0.034690 USD, increasing by 18.5% 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, 3 are up and 13 are down. Notably, Meme, AI, and RWA sectors are worth mentioning.
Meme sector has fallen -2.46% relative to the UTC 0 time, led by declines in SC (-23%), silly (-21.2%), and DEGEN (-17.4%).
AI sector has decreased -2.98% relative to UTC 0, with lai (-7.35%), dsla (-7%), and MASA (-6.93%) leading the drop.
RWA sector has fallen -3.07%, with cpool (-12.4%), mkr (-5.22%), and token (-4.19%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Following a recent funding round, Blockstream has secured $210 million to drive the growth of its Layer 2 technologies and expand its bitcoin treasury. The funding will be used to accelerate the adoption and development of Blockstream's Bitcoin Layer 2 solutions, including the Liquid Network and Core Lightning. Blockstream aims to position Liquid as the leading infrastructure for tokenizing real-world assets within the Bitcoin ecosystem. The company also announced the addition of Michael Minkevich as its new Chief Operating Officer.
Next news:According to Bitget market data, Bitcoin has surged past 67,000 USDT, currently priced at 67,000.21 USDT, with a daily increase of 1.41%.
Next news:The web3 game developer Azra Games raised $42.7 million in Series A funding, bringing its total fundraising to $68.3 million. The funding will be used to build out projects in development, expand the team, and support research and development initiatives. Azra Games aims to trailblaze the fourth generation of mobile RPG games that combine new gaming formats and experiences with blockchain technology.
Next news:Crypto exchange Coinbase is seeking a court ruling to obtain documents from the U.S. Securities and Exchange Commission (SEC) regarding the application of securities laws to cryptocurrencies. Coinbase filed a lawsuit against the SEC and the Federal Deposit Insurance Corporation (FDIC) in June for not complying with its Freedom of Information Act (FOIA) request. The exchange is specifically looking for communications related to the SEC's investigations into whether ether is a security. The SEC has refused to produce the requested documents and claimed exemption from FOIA, but recently stated it may not be true. Coinbase says the SEC now estimates it will take three years to produce the documents.
Next news:According to The Block, Ripple has announced its exchange and market maker partners for the RLUSD stablecoin, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. B2C2 and Keyrock will provide liquidity support for RLUSD.
Next news:According to Arkham monitoring, Grayscale Bitcoin ETF transferred approximately 515.075 $BTC to Coinbase Prime, valued at about 33.96 million USD.
Next news:Blockchain data shows the token has bagged over 1,700 holders in the first 15 minutes after going live.
Next news:Pell Network announced the completion of a $3 million Pre-Seed funding round, led by Halo Capital, Mirana Ventures, and Paper Ventures, with participation from ArkStream Capital, Caliber Venture Builder, Cogitent Ventures, Contribution Capital, and others. Pell Network is a full-chain, composable, adaptive decentralized verification service (DVS) network. Pell's Testnet is now officially live, allowing users to participate and receive airdrop rewards. Pell has currently partnered with over 50 ecosystem partners, including Coredao, BNBCHAIN, 0xMantle, ZKSync, and manages a total locked value (TVL) of over $300 million, with more than 420 thousand stakers.
Next news:Canary Capital has filed a registration statement with the SEC for a Litecoin exchange-traded fund (ETF). The fund aims to provide exposure to the price of LTC held by the Trust. Canary Capital believes that Litecoin presents a unique opportunity for investors seeking exposure to a reliable cryptocurrency with significant enterprise-grade use cases. However, the approval of a Litecoin ETF may depend on the development of a sizeable and liquid futures market that is federally regulated in the US.
Next news:According to on-chain analyst Yu Jin's monitoring, the Ethereum Foundation sold 100 $ETH at a price of $2,579, exchanging it for 257.90 thousand DAI.

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.