SoSo Daily Oct 23 | UAE Region Ras Al-Khaimah Launches Framework for Decentralized Autonomous Organizations in Free Zone

According to sosovalue, the price of $BTC is 67,420 USD, an increase of 0.0631% 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 35.36 billion USD, making up 35.8% of the total trading volume.
The price of $ETH is 2,622.4 USD, down 1.66% from yesterday; the market cap of $ETH is 315.72 billion USD, representing 13% of the total market cap; $ETH's 24-hour trading volume is 16.10 billion USD, comprising 16.3% 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 52.1% 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 CANTO. As of 23:55 today, its market cap is 13.82M, with a coin price of 0.022716 USD, witnessing a 24-hour increase of 58.4%.
The second is Quantstamp. As of 23:55 today, its market cap is 1.17M, with a coin price of 0.0016350 USD, witnessing a 24-hour increase of 38.8%.
The third is RealFevr. As of 23:55 today, its market cap is 258.18K, with a coin price of 0.000019820 USD, showing a 24-hour increase of 38.1%.
In fourth place is DSLA Protocol. As of 23:55 today, its market cap is 981.33K, its coin price is 0.00017630 USD, with a 24-hour rise of 34%.
In fifth place is Big Time. As of 23:55 today, its market cap is 218.18M, its coin price is 0.18935 USD, increasing by 31.9% 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, 6 are up and 10 are down. Notably, the NFT sector is worth mentioning.
The NFT sector has fallen -3.66% relative to the UTC 0 time, led by declines in epik (-16.1%), ape (-13.7%), and psl (-13.5%).

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The UAE region Ras Al-Khaimah has launched a framework for Decentralized Autonomous Organizations (DAOs) in its free zone. The framework aims to provide tax optimization and legal clarity for DAOs. Dr. Sameer Al Ansari, CEO of RAK DAO, stated that the regime will enable DAOs to benefit from these advantages.
Next news:The DeFi platform Azura has completed a $6.90 million seed round of financing, led by Initialized, with participation from Volt Capital, Winklevoss Capital, and Solana co-founder Raj Gokal, among others. The funding will be used to scale the application, including increasing company payroll expenses, improving software, and purchasing better servers.
Next news:According to Wu's report, Greekslive has noted that the annualized interest rate for multiple orders on the Bitfinex platform's Leafloan has risen to 30%, indicating that institutional investors are actively increasing their positions even during slight market corrections. Data from the past two years shows that when the annualized interest rate for lending reaches 30%, it often signals that the cryptocurrency market is about to enter a strong bull market phase.
Next news:The U.S. government's debt and deficit issues aren't going anywhere no matter who wins the presidency next month, said Jones.
Next news:According to Foresight News, Fox Business reporter Eleanor Terrett tweeted that the U.S. Securities and Exchange Commission (SEC) will include cryptocurrencies in its review focus list for 2025. Eleanor Terrett stated that the only cryptocurrencies that come to mind for interacting with the SEC in a regulatory role (rather than an enforcement role) are $BTC and $ETH ETFs.
Next news:The Buenos Aires City Government has announced the integration of the decentralized identity solution QuarkID, supported by ZKsync, into its miBA platform. Starting from October 1, 2024, all active users of miBA will receive their own decentralized digital identity (DID). These DIDs are protected by QuarkID's wallet and settled on the ZKsync Era.
Next news:According to Foresight News, as reported by Crowdfund Insider, the U.S. Securities and Exchange Commission (SEC) has approved multiple Bitcoin ETF options products for listing on the Cboe Exchange and NYSE American. Cboe has been authorized to list options for the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB); NYSE American has been authorized to list options for Grayscale Bitcoin Trust ETF (GBTC), Grayscale Bitcoin Mini Trust ($BTC), and Bitwise Bitcoin ETF (BITB). Previously, the SEC had approved option trading for BlackRock's iShares Bitcoin Trust (IBIT).
Next news:According to Bloomberg, options traders are increasingly betting that "no matter who wins the U.S. presidential election, the price of Bitcoin will reach a historic high of $80,000 by the end of November."
Next news:According to Arkham's monitoring, Grayscale transferred 11,037 $ETH to a Coinbase Prime address 3 minutes ago.
Next news:According to Foresight News, data disclosed by CryptoQuant CEO Ki Young Ju shows that the institutional holding ratio of Bitcoin spot ETFs in the United States is approximately 20%, with asset management companies holding about 193 thousand BTC.

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.