SoSo Daily Nov 26 | MicroStrategy Acquires 55,500 BTC, Total Holdings Reach 386,700 BTC

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 Zircuit (ZRC). As of 23:50 today, its market cap is 0E-8, with a coin price of 0.067280 USD, witnessing a 24-hour increase of 573%.
The second is sudoswap (SUDO). As of 23:50 today, its coin price is 0.36666 USD, with a 24-hour increase of 135%.
The third is Muse DAO (MUSE). As of 23:50 today, its coin price is 19.767 USD, showing a 24-hour increase of 115%.
In fourth place is Dasha (VVAIFU). As of 23:50 today, its coin price is 0.062430 USD, with a 24-hour rise of 82%.
In fifth place is Altered State Machine (ASTO). As of 23:50 today, its coin price is 0.028550 USD, increasing by 73.6% 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, 1 is up and 15 are down. Notably, Layer1, GameFi, and Meme are worth mentioning.
Layer1 sector has fallen -5.21% relative to the UTC 0 time, led by declines in ARRR (-19.3%), PICA (-17.7%), and QANX (-14.2%).
GameFi sector has decreased -6.14% relative to UTC 0, with UNDEAD (-21.4%), RIDE (-16.9%), and FEVR (-14.2%) leading the drop.
Meme sector has fallen -7.02%, with CHEEMS (-36.1%), URO (-34.2%), and SCIHUB (-27.9%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:MicroStrategy has acquired an additional 55,500 $BTC for $5.4 billion, increasing its total holdings to 386,700 BTC. This acquisition, the largest to date, was made between Nov. 18 and Nov. 24 at an average price of $97,862 per bitcoin. The purchase follows a $3 billion debt offering and the sale of MicroStrategy shares, with the company planning a $42 billion capital raise over the next three years for further bitcoin acquisitions. The total cost of MicroStrategy's bitcoin holdings is approximately $21.9 billion, with an average purchase price of $56,761 per bitcoin. The company's Bitcoin Yield, a measure of the percentage change in bitcoin holdings relative to diluted shares, is 59.3% as of Nov. 24.
Next news:Bitcoin falls below 97,000 USDT.
Next news:WisdomTree, a major ETF issuer, has registered an XRP ETF entity in Delaware, indicating plans to file an S-1 registration with the SEC for an XRP ETF. This move follows similar filings by Bitwise and Canary Capital. WisdomTree, known for its spot bitcoin ETF, also received approval to list bitcoin and ether products on the London Stock Exchange. Bitwise argues that XRP is not a security, challenging the SEC's previous stance. Recently, XRP's price surged amid a crypto market rally and news of SEC Chair Gary Gensler's departure, with expectations of a more crypto-friendly successor under Donald Trump's upcoming presidency.
Next news:

According to Wu, OKX market data shows that $BTC has fallen below 93,000 USD, currently reported at 92,940 USD, with a 24-hour decline of 3.24%. Coinglass data indicates that in the past 24 hours, the total liquidation across the network reached 553 million USD, of which long positions accounted for 415 million USD and short positions accounted for 137 million USD.

Next news:Pump.fun, a decentralized launchpad for memecoins on the Solana blockchain, is facing criticism due to dangerous behaviors during its live streams. Users have threatened self-harm and violence if their tokens don't reach desired prices. The platform, launched in January, introduced live streaming in August, leading to concerns over safety and potential regulatory scrutiny. Incidents include threats of suicide, violence, and other criminal acts. While some advocate for free speech, others call for moderation or shutting down the feature. Co-founder Alon claims active moderation is in place, but acknowledges challenges due to the platform's decentralized nature.
Next news:MicroStrategy is projected to increase its bitcoin ownership from 1.7% to 4% of the circulating supply over the next decade, according to Bernstein analysts. They have raised the price target for MicroStrategy's stock (MSTR) to $600 by the end of 2025, citing the company's unique bitcoin treasury model. The analysts' thesis is based on the sustained bull market for bitcoin, favorable regulatory conditions, and MicroStrategy's ability to scale capital. Despite some skepticism from Citron Research, which has shorted the stock, Bernstein values MicroStrategy using a sum-of-the-parts approach, factoring in its software business and bitcoin holdings. The company has made significant bitcoin acquisitions, holding 331,200 $BTC as its primary treasury reserve asset.
Next news:OpenTrade, a firm specializing in stablecoin yield products, has secured a $4 million seed extension round led by AlbionVC. The company, which operates on the Circle platform, enables asset managers to develop yield-bearing onchain lending products. This new funding will support OpenTrade's growth and product development, as stated by CEO David Sutter. Previously, in April, OpenTrade raised $3.2 million in seed funding from investors including a16z's crypto startup accelerator, CMCC Global, Draper Dragon, Ryze Labs, and Plassa Capital, bringing their total funding to $4.45 million at that time. Additionally, the market capitalization for real-world asset products reached nearly $4 billion on November 24, according to The Block's Data Dashboard.
Next news:The U.S. Customs and Border Protection (CBP), at the request of the Federal Communications Commission (FCC), has detained the imports of Bitmain's Antminer S21 and T21 series ASICs at ports across the country for up to two months. Seven U.S. mining companies have not received a clear explanation for the delays or a timeline for resolution. Industry speculation suggests that this may be related to a review of chips from Xiamen Sophgo, which is under investigation for potential violations of U.S. sanctions. While there is no direct evidence linking the import suspension to these investigations, sources indicate that the FCC and CBP may be checking for restricted components in the shipments. This incident highlights the tensions at the intersection of U.S. trade policy and technology regulations.
Next news:Aptos Labs has appointed former Grayscale CEO Michael Sonnenshein and OpenAI executive Kevin Weil to its advisory board. This move aims to enhance Aptos's growth in AI and institutional adoption. Sonnenshein's experience in digital assets and Weil's AI expertise are expected to contribute significantly to Aptos's mission of democratizing DeFi. Aptos Labs, founded by ex-Meta engineers, raised $350 million in 2022.
Next news:

The re-staking protocol Kernel, built on the BNB Chain, announced that it has received investment from Binance Labs, further solidifying Kernel's important position as a core staking infrastructure of the BNB Chain.

On November 25, 2024, the re-staking protocol Kernel announced that it has received investment from Binance Labs, further solidifying Kernel's important position as a core staking infrastructure of the BNB Chain.

At the same time, Kernel aims to help the BNB Chain build a decentralized and scalable trust foundation, empowering dApps, middleware, and the entire crypto ecosystem. The support from Binance Labs will also propel the BNB Chain to make a significant leap in transforming its economic security into programmable trust.

Currently, Kernel has raised a total of $10 million, with supporters including SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Draper Dragon, DACM, CYPHER, ArkStream Capital, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via $BTC, Side Door Ventures, NOIA, and DWF Labs.

Kernel is excited to continue working alongside its supporters in the re-staking track, exploring the innovative boundaries of re-staking's future development together.

Beyond Ethereum

This round of re-staking has reshaped Ethereum, and Kernel aims to introduce this innovative mechanism of re-staking to the BNB Chain to help establish a decentralized and scalable trust foundation, driving ecological innovation. With the support of Binance Labs, Kernel is leading the staking revolution for the BNB Chain and the broader crypto space.

Key Milestones

Since its launch, Kernel has achieved remarkable accomplishments in various aspects:

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  TVL on Ethereum exceeds $1 billion through Kelp & Gain

  
  


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  Integrated with over 10 Layer 2 solutions for better scalability

  
  


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  Integrated with over 120 DeFi projects to drive rapid growth

  
  


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  Over 300 thousand unique addresses, showcasing the community's trust and adoption of the project

  
  

Kernel Ecosystem

As one of the three flagship products, Kernel, along with Kelp and Gain, forms the grand DeFi development vision of the project:

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  Kernel: A cross-chain re-staking solution on the BNB Chain, with the mainnet launching soon

  
  


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  Kelp: A liquidity re-staking solution on Ethereum, with high adoption of rsETH

  
  


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  Gain: Tokenized yields from DeFi, CeDeFi, and real-world assets (RWA)

  
  

The three solutions work together to create development opportunities worth billions of dollars for re-staking, DeFi, CeDeFi, and RWA, providing continuous momentum for the future development of the DeFi ecosystem.

$KERNEL Token Launching Soon

As an ecological token, $KERNEL will play a governance and incentive role in the three flagship products of Kelp, Kernel, and Gain, rewarding early supporters of the project and promoting the ecosystem's development.

Welcome to Join Kernel

Kernel aims not only to build infrastructure but also to reshape trust. Whether you are an ordinary user, developer, or investor, you are invited to accept Kernel's invitation and become a participant and contributor at the forefront of Restaking and DeFi.

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.