SoSo Daily Nov 23 | The resignation of SEC Chairman Gary Gensler sparks hopes for a compromise in cryptocurrency regulation.

According to sosovalue, the price of $BTC is 98,876 USD, an increase of 0.568% from yesterday. The market cap of $BTC is 1.96 trillion USD, accounting for 56.6% of the total market cap; $BTC's 24-hour trading volume is 78.68 billion USD, making up 27.6% of the total trading volume.
The price of $ETH is 3,327 USD, down 0.858% from yesterday; the market cap of $ETH is 400.67 billion USD, representing 11.6% of the total market cap; $ETH's 24-hour trading volume is 38.70 billion USD, comprising 13.6% 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 41.2% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Sologenic. As of 23:50 today, its market cap is 314.67M, with a coin price of 0.78825 USD, witnessing a 24-hour increase of 107%.
The second is Blocto. As of 23:50 today, its coin price is 0.0062300 USD, with a 24-hour increase of 100%.
The third is MEMEFI. As of 23:50 today, its coin price is 0.0058460 USD, showing a 24-hour increase of 94.9%.
In fourth place is Secret. As of 23:50 today, its coin price is 0.56360 USD, with a 24-hour rise of 66.2%.
In fifth place is Mobius. As of 23:50 today, its coin price is 0.0085000 USD, increasing by 57.2% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 13 are up and 3 are down. Notably, PayFi, Layer2, and Layer1 sectors are worth mentioning.
PayFi sector has risen 15% relative to the UTC 0 time, led by gains in COTI (35.9%), XLM (29.2%), and XRP (17.7%).
Layer2 sector has increased 6.06% relative to UTC 0, with IMX (9.11%), POL (8.96%), and MNT (8.53%) leading the rise.
Layer1 sector has risen 4.77%, with ROOT (34.2%), LYX (29.8%), and ERG (23.5%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), announced that he will step down on January 20, 2025. This news has sparked hopes for a compromise in cryptocurrency cases and regulation. During Gensler's tenure, the SEC filed multiple lawsuits against major cryptocurrency companies, including Coinbase, accusing them of failing to register as required by law. With Gensler's departure, the SEC may adopt a different strategy to handle these cases, potentially including settlements or dismissals of lawsuits. Nevertheless, the lawsuits against Coinbase, Kraken, and Binance will continue. The new chairman may change the SEC's priorities, influencing the future direction of regulation.
Next news:Sui Establishes Strategic Partnership with Franklin Templeton Digital Assets
Next news:Cboe Global Markets has announced plans to launch the first cash-settled index options related to the spot Bitcoin price on December 2. These options will be based on the newly developed Cboe Bitcoin US ETF Index, which aims to track the performance of spot Bitcoin ETFs listed on U.S. exchanges. The options will offer cash settlement and European-style exercise, catering to institutional and retail traders looking to invest in or hedge against Bitcoin price volatility. Additionally, Cboe will also introduce Cboe Mini Bitcoin U.S. ETF Index options (MBTX), with a notional value of one-tenth of standard options. This move expands Cboe's digital asset derivatives portfolio.
Next news:The Blockchain Association has submitted a proposal on cryptocurrency regulation to the Trump administration, calling for the establishment of a clear regulatory framework for cryptocurrencies. The association emphasizes that the current regulatory environment is unclear, which could hinder innovation and investment. The proposal outlines a series of policy recommendations aimed at promoting the healthy development of the cryptocurrency industry while protecting the interests of consumers and investors. The association hopes that these recommendations will provide greater legal certainty and transparency for the cryptocurrency industry.
Next news:Polymarket has blocked French traders from accessing its platform following a gambling inquiry. This decision prevents French users from participating in the crypto-powered prediction markets offered by Polymarket.
Next news:Jaime Lizárraga, a commissioner of the U.S. Securities and Exchange Commission (SEC), announced plans to resign early next year, just one day after SEC Chairman Gary Gensler also announced his resignation in January. Lizárraga stated that his departure is to support his wife, who is battling breast cancer. This move will make Caroline Crenshaw the only Democratic leader at the SEC. During his time at the SEC, Lizárraga focused on protecting investors and promoting capital formation and had previously worked with Gensler at the U.S. Treasury after the 2008 financial crisis. Although he rarely spoke out on the crypto industry, he pointed out in November 2022 that the digital asset market lacks transparency.
Next news:Amazon will make an additional investment of 4 billion dollars in Anthropic.
Next news:Pythagoras Investment Management's Alpha Long Biased strategy, launched by Mitchell Dong, has achieved a 230% return, outperforming Bitcoin since its inception. The fund was introduced just before Bitcoin ETFs received regulatory approval in January. It has consistently surpassed Bitcoin's performance every month except two, with a net gain of 206% after fees.
Next news:

According to Foresight News and a report by Bloomberg, asset management company Calamos Investments has announced that it has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin "structured-protection" ETF, which is designed to utilize the options market to hedge against Bitcoin's downside risk.

According to Foresight News and a report by Bloomberg, asset management company Calamos Investments has announced that it has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin "structured-protection" ETF, which is designed to utilize the options market to hedge against Bitcoin's downside risk.

Next news:CNBC: Robinhood's Chief Legal Officer Dan Gallagher will not serve as SEC Chairman.

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.