SoSo Daily Nov 5 | Binance and CZ's Lawyers File Motion to Dismiss SEC Lawsuit

According to sosovalue, the price of $BTC is 69,975 USD, an increase of 3.16% from yesterday. The market cap of $BTC is 1.38 trillion USD, accounting for 56.7% of the total market cap; $BTC's 24-hour trading volume is 50.88 billion USD, making up 43.3% of the total trading volume.
The price of $ETH is 2,452.5 USD, up 1.13% from yesterday; the market cap of $ETH is 295.32 billion USD, representing 12.1% of the total market cap; $ETH's 24-hour trading volume is 19.12 billion USD, comprising 16.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 59.6% 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 17:50 UTC0 time, according to sosovalue, the top five token gainers are:
Top 1 gainer is Ternoa. As of 17:50 today, its market cap is 6.15M, with a coin price of 0.0036320 USD, witnessing a 24-hour increase of 99.7%.
The second is Peanut the Squirrel. As of 17:50 today, its market cap is 73.49M, with a coin price of 0.073500 USD, witnessing a 24-hour increase of 65.7%.
The third is X Empire. As of 17:50 today, its market cap is 0E-8, with a coin price of 0.000059630 USD, showing a 24-hour increase of 60%.
In fourth place is BarnBridge. As of 17:50 today, its market cap is 20.90M, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is Epik Prime. As of 17:50 today, its market cap is 16.60M, its coin price is 0.014220 USD, increasing by 28.7% 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, 15 are up and 1 is down. Notably, Meme, AI, and NFT sectors are worth mentioning.
Meme sector has risen 9.23% relative to the UTC 0 time, led by gains in Pnut (77.8%), MIGGLES (19.8%), and dino (19%).
AI sector has increased 7.1% relative to UTC 0, with virtual (17.7%), moov (16.6%), and man (13.6%) leading the rise.
NFT sector has risen 5.02%, with epik (28.7%), rare (26.2%), and vra (15.2%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Lawyers representing Binance and former CEO Changpeng “CZ” Zhao have filed a motion to dismiss the Securities and Exchange Commission (SEC) lawsuit against them.
Next news:According to Foresight News, as reported by Jinshi, the voting for the U.S. election officially began at 13:00 Beijing time on November 5. Analyst Justin Low from the financial website Forexlive pointed out that the first exit poll for the U.S. election will conclude at 07:00 Beijing time on the 6th, and the final exit poll will end at 14:00 Beijing time on the 6th. Attention can be paid to the exit polls to gain early insight into the U.S. election results.
Next news:Asset management company VanEck has announced the launch of a new PYTH ETN product, allowing investors to trade its assets directly through VanEck. This product will be listed on the Euronext Amsterdam and Euronext Paris exchanges.
Next news:A giant whale has wagered 2.84 million USD on Trump’s victory, with an account balance of 2.10 million USDC still unused.
Next news:According to TechFlow news, on November 5, as reported by CNN, polling stations in 8 states, including New York, opened at 6 AM Eastern Time (7 PM Beijing Time). The states that are fully open include Connecticut, New Jersey, New York, New Hampshire, and Virginia. The states that are not fully open include Indiana and Kentucky (which open at 7 AM in the Central Time Zone) and Maine (where cities with a population of less than 500 open by 10 AM at the latest).
Next news:US exchange-traded funds investing in Bitcoin recorded their highest daily net outflow to date as markets brace for Election Day. The group of 12 funds managed by the likes of BlackRock Inc. and Fidelity Investments shed $579.5 million on Monday, according to data compiled by Bloomberg.
Next news:QCP Capital states that this election is expected to be one of the closest presidential races in U.S. history. The options market shows a balanced tilt between call options and put options, with trading desks observing significant buying of both types of options over the past few days. Nevertheless, Bitcoin is still seen as the "Trump trade." On Monday, as large amounts of spot ETFs flowed out, the $BTC spot price fell, while a poll showed Harris with a slight lead in Iowa. With the poll results coming out tomorrow, we expect $BTC spot to experience unstable fluctuations.
Next news:Bitcoin has rebounded to touch $69,000, with the current price at $68,940.50, showing a 24-hour increase of 0.43%.
Next news:

According to SoSoValue, as of November 4th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $541.07M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $63.66M, bringing GBTC's total historical net outflow to $20.23B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 89.49M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $412.58M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $38.42M, with IBIT's total historical net inflow reaching $26.17B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $67.44B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.06%. The historical cumulative net inflow has reached $23.61B.

Source: https://sosovalue.com/assets/etf

Next news:A token unintentionally created by onchain sleuth ZachXBT on the Base network reached a $3.4 million market cap. ZachXBT used the Zora protocol to issue open-edition NFTs related to his investigation of a $243 million theft. The NFTs were automatically converted into ERC-20 tokens, making them tradable as memecoins on decentralized exchanges. ZachXBT expressed frustration over the situation.

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.