SoSo Daily Nov 3 | Ethereum researchers relinquish EigenLayer roles over conflict of interest concerns

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM UTC0 time on November 2, 2024, according to sosovalue, the total market cap of the crypto market stands at 2.42 trillion US dollars, witnessing a decrease of 2.14% compared to yesterday; the total trading volume is 57.02 billion US dollars, marking a decline of 54.3% from the previous day.

According to sosovalue, the price of $BTC is 69,328 USD, a decrease of 0.305% from yesterday. The market cap of $BTC is 1.37 trillion USD, accounting for 56.6% of the total market cap; $BTC's 24-hour trading volume is 18.34 billion USD, making up 32.2% of the total trading volume.
The price of $ETH is 2,492.8 USD, down 0.828% from yesterday; the market cap of $ETH is 300.16 billion USD, representing 12.4% of the total market cap; $ETH's 24-hour trading volume is 8.76 billion USD, comprising 15.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69% of the total cryptocurrency market cap, and their combined trading volumes constitute 47.6% 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 Nest Protocol. As of 23:50 today, its market cap is 6.24M, with a coin price of 0.0010520 USD, witnessing a 24-hour increase of 44.7%.
The second is KAP Games. As of 23:50 today, its market cap is 4.91M, with a coin price of 0.038590 USD, witnessing a 24-hour increase of 44.7%.
The third is BarnBridge. As of 23:50 today, its market cap is 20.90M, with a coin price of 2.1520 USD, showing a 24-hour increase of 44.4%.
In fourth place is LogX Network. As of 23:50 today, its market cap is 5.80M, its coin price is 0.044580 USD, with a 24-hour rise of 42.2%.
In fifth place is Shyft Network. As of 23:50 today, its market cap is 3.52M, its coin price is 0.0015780 USD, increasing by 39.2% 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 16 are down. Notably, GameFi, RWA, and AI sectors are worth mentioning.
GameFi sector has fallen -2.58% relative to the UTC 0 time, led by declines in CTA (-10.7%), nada (-9.41%), and sidus (-8.72%).
RWA sector has decreased -3.5% relative to UTC 0, with pendle (-5.49%), ondo (-4.6%), and PROPC (-4.39%) leading the drop.
AI sector has fallen -3.68%, with moov (-11.6%), clore (-7.22%), and RFRM (-6.58%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Researchers Justin Drake and Drankrad Feist relinquish EigenLayer roles over conflict of interest concerns
Next news:Today, the total open interest in $BTC options across the network is $25.30 billion, while the open interest in $ETH options is $4.83 billion.
Next news:According to Bitcoin.com, the American convenience store chain Sheetz has announced an expanded partnership with the Flexa payment platform to support cryptocurrency payments, including Bitcoin, Ethereum, Litecoin, and USDC, at over 750 of its locations. Consumers can make instant and secure digital currency payments at Sheetz through the Flexa system while participating in the My Sheetz Rewardz loyalty program and earning rewards.
Next news:According to Bitcoin.com, NFT sales in October fell by 36% after a 47.9% drop in September. The sales for the month were approximately $361.50 million, with Ethereum NFTs dominating the market. Ethereum-based NFTs generated over $120 million in revenue, a decline of 34.11% compared to September. Following closely was Bitcoin NFTs, with sales reaching $69.60 million, down 27.17%. Solana ranked third, with sales of $66.26 million, a decrease of 22.94% from September.
Next news:Robinhood Crypto EU announced that it now supports DOGE token transfers and deposits. Users who deposit before November 30 will receive a 1% deposit bonus.
Next news:Ben Gagnon, the CEO of cryptocurrency mining company Bitfarms, stated that Trump's claim to make the remaining Bitcoin "MADE IN THE USA" is not feasible. He believes that if Trump reduces red tape and increases support and investment in energy and power infrastructure, the United States will solidify its position as the most competitive place for global Bitcoin mining. However, it is impossible for a single country to mine all Bitcoin; making Bitcoin 100% mined in the USA or any other country contradicts the core principles established by Bitcoin's creator, Satoshi Nakamoto.
Next news:Weekly Project Updates: Optimism Grants Kraken Massive OP Token Allocation, Zircuit Airdrops for EigenLayer Holders and Stakers, Pyth Monthly Trading Volume Surpasses Chainlink, etc

Next news:At the TON Gateway 2024 conference held in Dubai, the licensed exchange HashKey Global has submitted a license application to the Dubai Virtual Assets Regulatory Authority (VARA) and will soon disclose the latest developments. The exchange is also advancing preparations for licensing in Europe. Since its launch six months ago, HashKey Global has benefited from the rapid growth of its contract business, ranking 7th in the global exchange rankings on CoinGecko, making it one of the fastest-growing exchanges in the world.
Next news:Foresight News reports that Slow Mist's Chief Information Security Officer 23pds stated, "Okta allows any username longer than 52 characters to bypass login!"
Next news:Lu Lei, a member of the Party Committee and Vice Governor of the People's Bank of China, stated in the preface of his work "Monetary Theory" that there are two highly respected figures in the field of monetary economics prediction and practice— the recently deceased Robert Mundell and the still unknown Satoshi Nakamoto. The former consistently adhered to the view that exchange is a redundant transaction cost throughout his life, experiencing the practical application of the single currency area theory in the Eurozone, but the utopia of dollarization is neither achieved nor likely to be realized. The latter has watched his own creation, Bitcoin, evolve into an extremely expensive digital asset, and currently, the energy consumed globally each year to mine the last 2 million coins is sufficient for over a hundred million people to use for more than a year. According to the marginal cost pricing method, as Bitcoin becomes closer to an asset, it moves further away from being a widely circulated currency. So, what might the world currency (or world currency system) look like in the digital age? The proposal of Libra is centered around "stablecoins." Therefore, my experiment with students is based on free trade and investment agreements, designing a digital stablecoin based on floating shares and calculated exchange rates among contracting parties using AI algorithms. Whether in the interbank market, within the central bank's balance sheet, or in retail transactions between households and businesses, dual currency settlement and clearing between sovereign currencies and supranational stablecoins can be achieved. This is not technically difficult. It is noteworthy that, according to Wu Shuo's inquiry, although this article has drawn attention since its publication on November 1, 2024, in the WeChat public account "Digital Legal Currency Research Society," the preface was written on May 11, 2021.

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.