SoSo Daily Oct 30 | Consensys to Lay Off 20% of Workforce Amidst Macroeconomic Conditions and Regulatory Uncertainty

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM UTC0 time on October 29, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.55 trillion US dollars, witnessing an increase of 1.62% compared to yesterday; the total trading volume is 150.59 billion US dollars, marking an increase of 33.9% from the previous day.

According to sosovalue, the price of $BTC is 72,746 USD, an increase of 4.09% from yesterday. The market cap of $BTC is 1.44 trillion USD, accounting for 56.4% of the total market cap; $BTC's 24-hour trading volume is 62.00 billion USD, making up 41.2% of the total trading volume.
The price of $ETH is 2,639.1 USD, up 2.85% from yesterday; the market cap of $ETH is 317.76 billion USD, representing 12.5% of the total market cap; $ETH's 24-hour trading volume is 23.40 billion USD, comprising 15.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 56.7% 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 23:50 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Mister Miggles. As of 23:50 today, its market cap is 21.07M, with a coin price of 0.021980 USD, witnessing a 24-hour increase of 47.7%.
The second is Turbos Finance. As of 23:50 today, its market cap is 5.64M, with a coin price of 0.0030254 USD, witnessing a 24-hour increase of 45.5%.
The third is Gelato. As of 23:50 today, its market cap is 44.92M, with a coin price of 0.21340 USD, showing a 24-hour increase of 38.8%.
In fourth place is Goldfinch. As of 23:50 today, its market cap is 137.49M, its coin price is 1.5974 USD, with a 24-hour rise of 35.5%.
In fifth place is DinoLFG. As of 23:50 today, its market cap is 2.20M, its coin price is 0.0070150 USD, increasing by 35.2% 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 are up today. Notably, Meme, RWA, and NFT sectors are worth mentioning.
Meme sector has risen 6.89% relative to the UTC 0 time, led by gains in MIGGLES (46.8%), dino (37.8%), and DEGEN (24.5%).
RWA sector has increased 6.33% relative to UTC 0, with gfi (35%), PRCL (24.9%), and cpool (24.5%) leading the rise.
NFT sector has risen 4.45%, with TNSR (19.5%), epik (15.1%), and talk (14.3%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:MetaMask developer Consensys is laying off 20% of its workforce due to macroeconomic conditions and regulatory uncertainty. Laid-off employees will receive generous severance packages and extended stock options. This announcement comes after Consensys was involved in a legal conflict with the U.S. Securities and Exchange Commission and faced a lawsuit from former employees.
Next news:According to Bitget market data, Bitcoin has risen above 70,000 USDT, currently priced at 70,065.20 USDT, with a daily increase of 3.04%.
Next news:A week before the election, Paxos CEO Charles Cascarilla urged U.S. presidential candidates Kamala Harris and Donald Trump to establish a friendlier regulatory atmosphere for digital assets and a regulatory framework for stablecoins. Cascarilla warned that failure to do so could put the financial industry's regulatory future at risk. He also criticized the current regulatory environment for crypto, calling it an 'inhospitable place for financial innovation.' Both Harris and Trump have made comments about the crypto industry, but have taken different approaches.
Next news:The service 'Binance Wealth' is now available for elite customers on the Binance.com platform, with restrictions in some jurisdictions.
Next news:The Optimism Foundation agrees to provide a grant of 25 million OP tokens to Kraken.
Next news:In early trading on Tuesday, bitcoin’s price rose from $69,000 to now trade firmly above the $71,000 mark, signaling growing optimism among traders ahead of the U.S. elections in one week’s time. Analysts noted that robust technical indicators, renewed inflows into spot bitcoin ETFs, and broader macro factors — including speculation of a Trump election victory and seasonal Q4 market strength — support bitcoin's upward trajectory. The options market reflects a positive outlook for bitcoin, with call options positioning for the price of the largest digital asset by market capitalization to rise above $80,000 by year-end potentially. QCP Capital also observed increased volatility tied to election week-related options, noting that implied volatility for these expiries has reached 64% and could rise further. In the futures market, strong open interest in perpetual contracts — currently at annual highs — signals robust market positioning for potential further gains. Spot bitcoin ETFs saw inflows of $479.35 million on Monday, marking their highest daily inflows in two weeks. Reflecting network strength, bitcoin’s mining difficulty recently rose by 4% and is expected to increase by another 6%, marking three consecutive positive adjustments. Bitcoin rose by about 4% in the past 24 hours, changing hands for around $71,400 at the time of writing.
Next news:Aethir collaborates with GAIB and GMI Cloud to launch decentralized AI computing powered by H200 GPUs. This partnership will also make GPU resources more accessible and cost-effective on a global scale.
Next news:Vitalik Buterin responds to criticism of Ethereum's Layer 2 user experience, stating that the community should focus on building for the future rather than justifying present inadequacies. He emphasizes the need for cross-Layer 2 interoperability and collaboration to create a unified Ethereum ecosystem. Buterin also discusses the rollup-centric roadmap and the goal of scaling Ethereum to 100,000 transactions per second.
Next news:Solayer has launched the RWA-backed synthetic stablecoin Solayer USD, aimed at bringing real-world assets on-chain.
Next news:JUST IN: Gold reaches new all-time high of $2,783 per ounce.

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.