SoSo Daily Oct 27 | Vitalik: The Ethereum Foundation is considering granting funds related to its staking strategy for ETH holdings.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM UTC0 time on October 27, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.38 trillion US dollars, witnessing a decrease of 1.22% compared to yesterday; the total trading volume is 54.96 billion US dollars, marking a decline of 57.7% from the previous day.

According to sosovalue, the price of $BTC is 67,128 USD, a decrease of 0.0148% from yesterday. The market cap of $BTC is 1.33 trillion USD, accounting for 55.7% of the total market cap; $BTC's 24-hour trading volume is 14.89 billion USD, making up 27.1% of the total trading volume.
The price of $ETH is 2,470.1 USD, down 0.115% from yesterday; the market cap of $ETH is 297.4 billion USD, representing 12.5% of the total market cap; $ETH's 24-hour trading volume is 9.39 billion USD, comprising 17.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.2% of the total cryptocurrency market cap, and their combined trading volumes constitute 44.2% 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 11:50 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is SHILL Token. As of 11:50 today, its market cap is 0.46258000, with a coin price of 0.0011450 USD, witnessing a 24-hour increase of 53.1%.
The second is Shadow Token. As of 11:50 today, its market cap is 80.24M, with a coin price of 0.49700 USD, witnessing a 24-hour increase of 39.8%.
The third is ShapeShift FOX. As of 11:50 today, its market cap is 47.90M, with a coin price of 0.076960 USD, showing a 24-hour increase of 34.7%.
In fourth place is TROY. As of 11:50 today, its market cap is 15.85M, its coin price is 0.0015850 USD, with a 24-hour rise of 33%.
In fifth place is Dreams Quest. As of 11:50 today, its market cap is 569.33K, its coin price is 0.00036400 USD, increasing by 30% 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, the NFT sector is worth mentioning.
The NFT sector has fallen -2.86% relative to the UTC 0 time, led by declines in mplx (-15.2%), talk (-13.3%), and psl (-4.4%).

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Wu's report, in response to the question of "why the Ethereum Foundation does not stake its $ETH holdings but only uses income to cover costs," Vitalik Buterin expressed in a tweet that one internal reason is that they do not want to be forced to make an "official choice" during controversial hard fork events. An interesting idea being considered around this issue is to provide some grants in the form of "you can stake our $ETH, you can choose how to stake it, as long as it is ethical and maintains an upward trajectory." Another way to address this issue is to spread legitimacy and resources to more relevant parties, so that multiple organizations can credibly represent Ethereum in the eyes of the public. In this regard, our situation is much better than it was two years ago.
Next news:According to Decrypt, Coinbase has partnered with the NBA's Golden State Warriors, filling the sponsorship void left by FTX in 2022. Coinbase's Chief Marketing Officer, Kate Rouch, stated in a press release, "Our exclusive partnership with the Golden State Warriors provides fans with a simple and fun way to try out our services. We are excited to bring Dub Nation on-chain." This partnership comes at a time when cryptocurrency companies are reviving their partnerships with American sports franchises. CoinGecko data shows that the number of sports-related sponsorships secured by crypto companies so far this year is three times that of 2023. The Golden State Warriors had previously signed with FTX, announcing a $10 million deal in December 2021.
Next news:According to reports, on October 25, the Ministry of Public Security held a press conference to announce the results of a special operation against ethnic asset freezing fraud carried out by public security agencies nationwide. The Hefei police in Anhui Province cracked a major fraud case, uncovering three overseas fraud gangs, and arrested 65 criminal suspects, with a total amount involved reaching 25.56 million yuan. The gang implemented scams such as "national debt economy" by mailing fraudulent promotional materials and used virtual currencies for fund settlements to evade investigations. The police dismantled domestic hideouts and seized a large amount of printing equipment and fraud materials. Meanwhile, the Ningbo police in Zhejiang Province solved the "Chinese International Plum Blossom Association" fraud case, arresting 212 individuals involved. Since July 2022, the criminal gang used "high pension returns" as bait to attract people from all over the country, collecting various fees and laundering illegal proceeds through virtual currencies, with the amount involved exceeding 58 million yuan.
Next news:According to Wu Shuo, monitoring by Lookonchain has revealed that BlackRock, the world's largest asset management company, holds over 400 thousand bitcoins, totaling 403,725 bitcoins, valued at approximately 26.98 billion dollars. In the past two weeks, BlackRock has purchased an additional 34,085 bitcoins, with a total value of 2.30 billion dollars.
Next news:According to Bitcoin News, on October 27, the Russian government released a law signed by President Putin aimed at expanding state control over the cryptocurrency sector. The law will take effect on November 1 and mainly includes strengthened regulations on cryptocurrency mining activities and related infrastructure, allowing the government to implement restrictions based on regional needs. This law grants the federal government the authority to halt the operation of digital currency mining pools in specific regions, and several federal agencies (such as the Federal Financial Monitoring Service and federal law enforcement agencies) have also been given the power to track transactions related to money laundering or terrorist financing.
Next news:Jeremy Allaire, CEO of Circle Internet Financial Ltd., stated that the company's current financial condition is good and there is no need to seek funding, as it continues to pursue an initial public offering (IPO). Allaire emphasized that the company is very committed to the path of going public and could become a truly interesting company in the open market. Despite the previous merger efforts with Concord Acquisition Corp. failing, Circle has chosen the traditional route by submitting an IPO registration draft to the U.S. SEC. Allaire mentioned that the company is in good financial shape and does not need to raise additional funds. Moreover, stablecoin legislation may be passed during the lame-duck session after the November elections, and the new regulatory measures will allow more traditional financial participants to comfortably enter the digital asset ecosystem.
Next news:The address of Sotheby's vice president is the deployment address of the BAN token, and they have profited over 1 million USD by trading BAN through an internal wallet.
Next news:Magic Eden will run the TestME (ME Test Token) claim event from October 29 to 31. By participating in the event, users can ensure their wallets are correctly linked and ready to accept the official ME token claim. TestME is available for eligible wallets in all accepted regions, except in the United States and the United Kingdom. Applying for TestME allows users to ensure their wallets are properly set up and connected to the official platform, familiarize themselves with the token claiming process, and assist the team in identifying and resolving potential issues. Users can check their eligibility on the official claim website and follow the instructions to claim. Magic Eden strongly discourages users from trading TestME.
Next news:According to Decrypt, Bloomberg's latest data shows that among the 575 ETFs issued in 2024, Bitcoin and Ethereum ETF products occupy 14 out of the top 30 spots, with Bitcoin ETFs taking the top four positions. BlackRock's iShares Bitcoin Trust has set the record for the largest inflow of funds among 1,800 newly issued ETFs over the past four years. As of now, the total asset size of Bitcoin ETF products has surpassed 20 billion USD, achieving a milestone that took gold ETFs five years to reach in just 10 months. Bloomberg analyst James Seyffart stated that such rapid inflows are driven by a long-standing pent-up investment demand and reflect the strong interest of traditional financial institutions, including hedge funds, in crypto assets. In contrast, the Ethereum ETF launched in July of this year has performed relatively weakly, affected by a redemption wave from the Grayscale Ethereum Trust (ETHE), with a total net outflow of 472.70 million USD across nine Ethereum ETFs.
Next news:Coinbase has launched a new tool called Based Agent on its developer platform, allowing users to set up their own AI agents using a crypto wallet in just three minutes. Once created, the agent can handle a variety of on-chain tasks, including functions like transaction staking. This tool utilizes Coinbase's Software Development Kit (SDK) and is built in collaboration with OpenAI, the maker of ChatGPT, and the software creation platform Replit.

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.