SoSo Daily Oct 17 | Juan Tacuri, the senior promoter of the cryptocurrency Ponzi scheme Forcount, has been sentenced to 240 months in prison.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM UTC0 time on October 16, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.43 trillion US dollars, witnessing a decrease of 0.224% compared to yesterday; the total trading volume is 105.57 billion US dollars, marking a decline of 23.3% from the previous day.

According to sosovalue, the price of $BTC is 67,622 USD, an increase of 0.817% from yesterday. The market cap of $BTC is 1.34 trillion USD, accounting for 55% of the total market cap; $BTC's 24-hour trading volume is 34.47 billion USD, making up 32.7% of the total trading volume.
The price of $ETH is 2,611.1 USD, up 0.142% from yesterday; the market cap of $ETH is 314.34 billion USD, representing 12.9% of the total market cap; $ETH's 24-hour trading volume is 16.28 billion USD, comprising 15.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 48.1% 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 23:55 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Drops Ownership Power (DOP). As of 23:55 today, its market cap is 38.91K, with a coin price of 0.0028910 USD, witnessing a 24-hour increase of 33.7%.
The second is The Doge NFT (DOGNFT). As of 23:55 today, its market cap is 73.03M, with a coin price of 0.0048910 USD, witnessing a 24-hour increase of 27.1%.
The third is Open Exchange Token (OX). As of 23:55 today, its market cap is 45.03M, with a coin price of 0.0080000 USD, showing a 24-hour increase of 26.3%.
In fourth place is Humans.ai (HEART). As of 23:55 today, its market cap is 98.58M, its coin price is 0.015620 USD, with a 24-hour rise of 26.1%.
In fifth place is Serenity Shield (SERSH). As of 23:55 today, its market cap is 1.37M, its coin price is 0.079200 USD, increasing by 23.6% 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, 5 are up and 11 are down. Notably, Meme, GameFi, and NFT sectors are worth mentioning.
Meme sector has risen 2.38% relative to the UTC 0 time, led by gains in DOG (22.5%), TREMP (17.7%), and TRUMP (14.1%).
GameFi sector has decreased -2.3% relative to UTC 0, with CTA (-11.5%), MAVIA (-10.4%), and 1 CAT (-9.92%) leading the drop.
NFT sector has fallen -2.39%, with EPIK (-12%), COVAL (-10.5%), and MPLX (-7.67%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Wu learned that on October 15, the U.S. District Court for the Southern District of New York sentenced senior promoter Juan Tacuri, who participated in the Forcount cryptocurrency Ponzi scheme, to 240 months in prison. Forcount claimed to generate high returns for investors through cryptocurrency mining and trading, but in reality, it used the funds from new investors to pay old investors, involving thousands of victims worldwide, primarily targeting the Spanish-speaking community. According to court documents, Tacuri was one of the most active promoters of the scheme, illegally profiting millions of dollars, which he used to purchase properties and luxury goods in Florida. Additionally, over 20 victims made victim impact statements in court, describing their financial losses and emotional distress.
Next news:Tether announced that by the end of the third quarter of 2024, there are 330 million on-chain wallets and accounts (user agents) that have received USDT, with the number of new users each quarter exceeding that of the previous quarter, averaging a growth of 9% over the past four quarters. The third quarter of 2024 is its fastest-growing quarter to date, welcoming 36.25 million users.
Next news:A study by a16z crypto found that cryptocurrency activity and usage are at an all-time high. The report estimated 617 million global cryptocurrency owners and up to 60 million monthly active users. Ethereum's Dencun upgrade and the inclusion of EIP-4844 helped increase the $ETH value on Layer 2s by 36%. Bitcoin ETFs also saw consistent interest following their approval in the United States.
Next news:Binance Labs has invested in Lombard Finance, a Bitcoin liquid staking platform. Lombard's total funding now stands at $17 million, with Binance Labs contributing about $1 million. Lombard's LBTC token is already being used in DeFi protocols, and with the new funding, Lombard plans to expand access to LBTC across new blockchains.
Next news:The Bitcoin-backed stablecoin developer Hermetica has completed a $1.70 million financing round, led by UTXO Management, with participation from CMS Holdings, Ethos Fund, Trust Machines SPV, Newman Capital, Silvermine, and numerous angel investors.
Next news:The BNB Beacon Chain will be shut down before mid-November, and users and CEX need to prevent asset loss.
Next news:The network hashrate has risen 4% so far this month, while the hashprice is up less than 1%, according to a report by JPMorgan.
Next news:Some market watchers expect a Trump win and Musk’s closeness to the Republican as forthcoming catalysts for dogecoin.
Next news:According to The Block, the TON Foundation will utilize Axelar's Mobius development stack as its preferred interoperability solution to enhance connectivity with other blockchains. Solutions like Axelar's interchain token services will prevent fragmented liquidity, ensuring that assets are not isolated on different chains, and will reduce users' operational costs by providing a unified cross-chain experience.
Next news:Italy plans to increase capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%, according to Vice Economy Minister Maurizio Leo. The tax increase is part of measures approved by the Council of Ministers to generate resources for supporting families, youth, and businesses. Italy also plans to crack down on cash usage to combat tax evasion.

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.