SoSo Daily Oct 18 | The European Central Bank has once again cut interest rates by 25 basis points, in line with expectations.

According to sosovalue, the price of $BTC is 67,410 USD, a decrease of 0.311% from yesterday. The market cap of $BTC is 1.33 trillion USD, accounting for 55.3% of the total market cap; $BTC's 24-hour trading volume is 32.38 billion USD, making up 31.7% of the total trading volume.
The price of $ETH is 2,605.3 USD, down 0.222% from yesterday; the market cap of $ETH is 313.65 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 13.55 billion USD, comprising 13.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 45% 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 WATCoin. As of 23:55 today, its market cap is 3.22M, with a coin price of 0.00040282 USD, witnessing a 24-hour increase of 119%.
The second is DIA. As of 23:55 today, its market cap is 121.44M, with a coin price of 1.0978 USD, witnessing a 24-hour increase of 42.3%.
The third is Fight to MAGA. As of 23:55 today, its market cap is 12.76M, with a coin price of 0.012959 USD, showing a 24-hour increase of 26.9%.
In fourth place is Apu Apustaja. As of 23:55 today, its market cap is 310.08M, its coin price is 0.00095200 USD, with a 24-hour rise of 20.7%.
In fifth place is L7DEX. As of 23:55 today, its market cap is 150.20K, its coin price is 0.0031530 USD, increasing by 20.3% 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, DeFi, DePIN, and AI sectors are worth mentioning.
DeFi sector has fallen -2.22% relative to the UTC 0 time, led by declines in DOP (-23.7%), SIS (-22.2%), and SWTH (-13.2%).
DePIN sector has decreased -2.36% relative to UTC 0, with SERSH (-14.9%), WIFI (-11.7%), and LAMB (-10.1%) leading the drop.
AI sector has fallen -2.52%, with LAI (-10.5%), DSLA (-9.05%), and DBC (-7.53%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Wu Shuo, as reported by Jin Shi Data, the European Central Bank has once again lowered interest rates by 25 basis points. The ECB has reduced the deposit facility rate from 3.5% to 3.25%, in line with market expectations. At the same time, the main refinancing rate and the marginal lending rate have been adjusted from 3.65% and 3.9% to 3.4% and 3.65%, respectively.
Next news:The electric carmaker moved its stash of $BTC to new wallets earlier this week, sparking speculation on why it may have done so.
Next news:Crypto Exchange Kraken Launches Wrapped Bitcoin Token kBTC
Next news:The Bitcoin protocol layer Surge has completed a $1.80 million Pre-Seed funding round. The new funds will drive the development of its MetaLayer to fully realize Bitcoin's potential as a global currency base layer. Surge announced that it plans to launch its testnet soon.
Next news:QCP Capital pointed out that while the U.S. election is the next key catalyst for $BTC and cryptocurrencies, the market remains uncertain about where $BTC will head after the election. The trading prices of options nearing the election expiration are 10% higher than those of other expirations. With everyone focused on the election, any changes in polls or the campaign narratives of any candidate will be magnified in the spot prices. During the U.S. trading session, there was a massive influx of buying for long-dated options expiring on March 28, with 600 contracts at an exercise price of 120 thousand. This indicates that optimistic, long-term buyers are returning during this rebound.
Next news:

According to SoSoValue, as of October 16th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $458.54M.

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 $419.18M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $393.40M, with IBIT's total historical net inflow reaching $22.46B.

Following that, Fidelity's ETF FBTC had a daily net inflow of $14.81M, with FBTC's total historical net inflow reaching $10.27B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $64.46B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.82%. The historical cumulative net inflow has reached $20.19B.

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

Next news:Crypto exchange Kraken has launched kBTC, its own version of wrapped bitcoin on Ethereum and OP Mainnet. kBTC is a cross-network compatible ERC-20 token fully backed by bitcoin custodied at Kraken Financial. The wrapped bitcoin asset can be used in various decentralized applications on Ethereum and OP Mainnet. Launch partners include deBridge, Definitive, Gauntlet, ParaSwap, and Yearn. Kraken's kBTC launch comes after Coinbase introduced its wrapped bitcoin alternative, cbBTC. Both tokens will compete with Wrapped Bitcoin (WBTC), currently the largest tokenized $BTC product.
Next news:The liquidity staking protocol Drop Protocol has completed a $4 million seed round financing, led by CoinFund, with participation from institutions such as CMS Holdings, Anagram, Interop Ventures, Cosmostation, and angel investors including Vasiliy Shapovalov, co-founder of Lido DAO; Mustafa Al-Bassam, co-founder of Celestia Labs; and Jon Kol, CEO of Abacus Labs and key contributor to Hyperlane.
Next news:According to Foresight News, as reported by The Block, the privacy-preserving data verification protocol zkPass has completed a $12.50 million Series A funding round, achieving a valuation of $100 million. Institutions such as dao5, Animoca Brands, and Flow Traders participated in this round of financing, which was conducted through a Simple Agreement for Future Tokens (SAFT) structure. zkPass plans to launch its tokens in the first quarter of next year.
Next news:Wu News has learned that the Federal Bureau of Investigation (FBI) arrested 25-year-old Eric Council Jr. from Alabama, accusing him of being involved in the hacking incident of the U.S. Securities and Exchange Commission (SEC) X account in January 2024. This incident led to the release of false information claiming that the SEC had approved a Bitcoin ETF, causing the price of Bitcoin to rise by $1,000 in a short period. The attack infiltrated the SEC X account through SIM card swapping, and Eric Council Jr. and his accomplices subsequently disseminated the false information. The SEC quickly clarified that the news was due to an unauthorized security breach, and the price of Bitcoin subsequently fell by over $2,000.

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.