SoSo Daily Nov 3 | A user spent 11 SOL to buy 19.10 million Pnut and then sold it, missing out on over 1.60 million USD in returns.

According to sosovalue, the price of $BTC is 68,360 USD, a decrease of 1.79% from yesterday. The market cap of $BTC is 1.35 trillion USD, accounting for 56.6% of the total market cap; $BTC's 24-hour trading volume is 25.42 billion USD, making up 34.4% of the total trading volume.
The price of $ETH is 2,454.4 USD, down 1.91% from yesterday; the market cap of $ETH is 295.54 billion USD, representing 12.4% of the total market cap; $ETH's 24-hour trading volume is 11.89 billion USD, comprising 16.1% 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 50.5% 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 Stader. As of 11:50 today, its market cap is 20.56M, with a coin price of 0.44690 USD, witnessing a 24-hour increase of 47.1%.
The second is BarnBridge. As of 11:50 today, its market cap is 20.90M, with a coin price of 2.1520 USD, witnessing a 24-hour increase of 44.4%.
The third is Grass. As of 11:50 today, its market cap is 403.98M, with a coin price of 1.6563 USD, showing a 24-hour increase of 33.8%.
In fourth place is Swarm. As of 11:50 today, its market cap is 30.39M, its coin price is 0.48120 USD, with a 24-hour rise of 31.6%.
In fifth place is CARV. As of 11:50 today, its market cap is 0E-8, its coin price is 0.95160 USD, increasing by 31.5% 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, AI, NFT, and Meme sectors are worth mentioning.
AI sector has fallen -4.74% relative to the UTC 0 time, led by declines in virtual (-11.5%), man (-8.88%), and AI (-8.61%).
NFT sector has decreased -5.38% relative to UTC 0, with ogn (-18%), TNSR (-15.1%), and rare (-12.9%) leading the drop.
Meme sector has fallen -6.5%, with act (-39.4%), Ban (-38.8%), and mumu (-15.9%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:A user spent 11 SOL to buy 19.10 million Pnut and then sold it, missing out on a return of over 1.60 million USD.
Next news:Ki Young Ju, the founder and CEO of CryptoQuant, stated that despite the increasing supply of stablecoins, this growth is insufficient to significantly enhance buyer liquidity or drive up Bitcoin prices. Ju mentioned that the current exchange reserve ratio of Bitcoin to stablecoins (an indicator measuring the amount of Bitcoin reserves in exchanges relative to the quantity of stablecoins) shows that the amount of Bitcoin held by exchanges is approximately six times that of stablecoins. He noted that the reserve value of stablecoins was 30 billion USD in September 2021. Now, the total market capitalization of stablecoins is around 166 billion USD. However, only 21% of stablecoins are used for trading on exchanges, a significant change compared to 2021 when more than half of the stablecoin supply was located on exchanges. Although the supply of stablecoins is increasing, they are mainly being used for purposes other than trading in the current market cycle. Ju pointed out that the trend of using stablecoins as a store of value or for remittances is on the rise. (Cointelegraph)
Next news:According to data from Coinglass, the total liquidation across the network in the past 24 hours amounted to $219 million, with long positions liquidated at $201 million and short positions liquidated at $17.67 million. Among these, Bitcoin saw liquidations of $45.73 million, while Ethereum had liquidations of $24.21 million.
Next news:According to Bitget market data, Bitcoin has fallen below 69,000 USDT, currently trading at 68,975.91 USDT, with a daily decline of 0.56%.
Next news:According to Wu Shuo, Coinbase CEO Brian Armstrong tweeted that for the few people who are paying attention to his latest 10b51 plan, there will be some diversification of investments over time, including investments in lunar projects, but he will still retain the vast majority of his Coinbase shares. For some reason, the related disclosure did not show a price target, only the total number of shares that could lead to FUD. To clarify, he listed about 10% of the shares he holds in this plan, but most of the price limits are well above COIN's current price, so he does not expect to execute the majority of the stock sales next year. Armstrong emphasized that Coinbase is his top priority and that he plans to run the company for the long term, as it is still in its early stages.
Next news:According to CoinGape, former SEC official Marc Fagel expressed concerns regarding the recent Wells notice issued by the agency to the Web3 gaming company Immutable. Immutable stated that this was issued without prior communication or limited explanation, which does not align with the typically broader investigative procedures. Marc Fagel noted that it is uncommon for the SEC to issue such notices without conducting a thorough investigation first, indicating that this approach may carry risks. Previously, Immutable announced that it received a Wells notice from the SEC, which vaguely accused it of violating securities laws and making false statements.
Next news:A certain whale deposited 15,000 $ETH into Kraken half an hour ago, worth approximately 36.70 million USD, suspected of selling off. This address has transferred a total of 85,000 $ETH to exchanges this year, with an average price of 2,953 USD, totaling around 250 million USD. If sold, it would yield a profit of 117 million USD. Currently, the address still holds 11,639 ETH.
Next news:According to Wu, Arthur Hayes stated in a podcast that he favors Solana before the U.S. elections, calling it "a high beta version of Bitcoin." Solana is a good choice due to its high liquidity; if Bitcoin performs well, its price is likely to rise. In the long run, who wins the U.S. elections is not important, as the primary influence on digital assets will be the Federal Reserve's decision on whether to cut interest rates on November 7. However, he warned that regardless of political changes, significant improvements in crypto regulation are unlikely. His advice to investors and traders is to focus more on market fundamentals rather than political developments, as political changes often have a short-term impact on market dynamics. He prefers Solana over $ETH, believing that Ethereum is now "too slow" and needs to change the narrative to alter perceptions regarding its poor performance in recent months. Solana currently occupies a "mind share," acts quickly, and is likely to outperform Bitcoin during market booms, whereas Ethereum has a "beta coefficient equal to that of Bitcoin," and may even be slightly lower. Solana's price has risen from around $7 to over $180, especially following the FTX collapse, highlighting its capability for rapid appreciation and value retention.
Next news:According to the prediction market Polymarket, the current probability of Trump winning the U.S. presidential election is 55.9%, while the probability for Harris is 44.1%, narrowing the gap to 11.8 percentage points. Additionally, the total betting amount on the U.S. election on the platform is close to 3 billion dollars (2,983,527,473 USD).
Next news:Researchers Justin Drake and Drankrad Feist relinquish EigenLayer roles over conflict of interest concerns

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.