SoSo Daily Nov 29 | Bithumb will launch the VIRTUAL Korean Won trading pair.

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on November 29, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.50 trillion US dollars, witnessing a decrease of 1.01% compared to yesterday; the total trading volume is 193.58 billion US dollars, marking a decline of 29.1% from the previous day.

According to sosovalue, the price of $BTC is 96,155 USD, an increase of 0.745% from yesterday. The market cap of $BTC is 1.90 trillion USD, accounting for 54.4% of the total market cap; $BTC's 24-hour trading volume is 53.40 billion USD, making up 27.6% of the total trading volume.
The price of $ETH is 3,578 USD, down 0.306% from yesterday; the market cap of $ETH is 430.92 billion USD, representing 12.3% of the total market cap; $ETH's 24-hour trading volume is 30.81 billion USD, comprising 15.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 43.5% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Avive. As of 05:50 today, its market cap is 9.19M, with a coin price of 0.0030950 USD, witnessing a 24-hour increase of 1760%.
The second is tokenbot. As of 05:50 today, its coin price is 97.580 USD, with a 24-hour increase of 984%.
The third is Vela Token. As of 05:50 today, its coin price is 0.094200 USD, showing a 24-hour increase of 223%.
In fourth place is Major. As of 05:50 today, its coin price is 1.1310 USD, with a 24-hour rise of 126%.
In fifth place is Wall Street Memes. As of 05:50 today, its coin price is 0.0025700 USD, increasing by 106% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to official announcements, Bithumb will launch the VIRTUAL Korean Won trading pair at 5:00 PM local time on Friday, November 29. Only BASE network deposits will be supported, and other networks will not be supported. The deposit and withdrawal functions will be opened within 3 hours after the announcement is released.

Next news:According to Wu Shuo, as reported by Cryptonews, Japanese Prime Minister Shigeru Ishiba has restructured the ruling party's Web3 and cryptocurrency policy-making department. The new Digital Minister, Masaaki Taira, announced at a forum on November 27 that the Liberal Democratic Party will dissolve the existing Web3 project team (PT) and establish a dedicated agency within the party's Digital Society Promotion Department, led by former Web3 PT Secretary Akihisa Shiozaki. The government stated it will continue to promote the development of Web3-related businesses. Previously, Masaaki Taira served as the head of the Web3 PT and advocated for reforms to Japan's cryptocurrency tax regulations. Furthermore, according to Shigeru Ishiba's campaign declaration, the government plans to leverage blockchain technology and NFTs to promote local development projects, maximizing the value of local products such as food and tourism experiences.
Next news:

According to Wu, Ethereum Foundation researcher Justin Drake tweeted that the Ethereum Foundation is investing tens of millions of dollars into zkVM, which includes zkRISC-V formal verification, Poseidon cryptanalysis, and L2beat for zkVMs.

Next news:The Financial Supervisory Commission of Taiwan will implement new anti-money laundering regulations on November 30, one month earlier than originally planned. The new rules require cryptocurrency service providers to complete anti-money laundering compliance registration, with non-compliance potentially resulting in up to two years of imprisonment and a fine of 5 million New Taiwan Dollars. Overseas virtual asset service providers must establish a company or branch in Taiwan and complete registration. This move is in response to societal demands for stronger fraud prevention measures. The new regulations also strengthen the review of fiat currency custody, information security, customer complaint handling, record-keeping, and information disclosure. Major Taiwanese cryptocurrency exchanges MaiCoin and BitoPro have been fined for violating anti-money laundering regulations.
Next news:SecondLane listed a 1% equity stake in pump.fun at a price of 15 million USD.
Next news:

Odaily Planet Daily reports that on-chain analyst Yu Jin has monitored that pump.fun sold 65 thousand SOL 7 hours ago, valued at 15.30 million USD. So far, pump.fun has earned approximately 1.52 million SOL in total fee income. Their total sales amount to 1.14 million SOL (approximately 206.76 million USD), with an average price of about 182 USD.

Next news:

According to Foresight News, the decentralized lending protocol Echelon will launch the debt-driven Move application chain Echelon Chain based on the Initia Interwoven Stack. The official roadmap was released yesterday, and the protocol currently has over 106 million USD in Total Value Locked (TVL) and over 132 million USD in lending assets. Through the Initia Interwoven Stack, Echelon Chain can achieve: access from anywhere via LayerZero or IBC; scalable DA and access to Celestia native assets; native USDC and CCTP; oracles; and a complete product suite (wallet, explorer, usernames, etc.).

According to Foresight News, the decentralized lending protocol Echelon will launch the debt-driven Move application chain Echelon Chain based on the Initia Interwoven Stack. The official roadmap was released yesterday, and the protocol currently has over 106 million USD in Total Value Locked (TVL) and over 132 million USD in lending assets. Through the Initia Interwoven Stack, Echelon Chain can achieve: access from anywhere via LayerZero or IBC; scalable DA and access to Celestia native assets; native USDC and CCTP; oracles; and a complete product suite (wallet, explorer, usernames, etc.).

Next news:According to Wu, as reported by Cryptoslate, Coinbase will stop providing rewards to USDC holders located in the European Economic Area (EEA) on December 1 due to the upcoming Markets in Crypto-Assets (MiCA) regulation. Coinbase stated that this move is a result of new requirements for electronic money tokens. Users will continue to earn yields on their USDC balances until November 30, and payouts will be made within the first 10 working days of December. Coinbase's USDC reward program is available in over 100 jurisdictions. It generates daily yield based on the user's USDC balance on the exchange, with annual percentage yields (APY) varying by the user's location.
Next news:Cryptocurrency users are spending hundreds of dollars sending messages to an AI agent that allegedly controls $40,000 in crypto funds, trying to persuade the agent, Freysa, to relinquish all the funds. So far, 181 people have sent 457 messages, but no one has succeeded. Freysa responds in a style reminiscent of characters from the films "Blade Runner 2049" and "Her." In the game setup, Freysa is informed that if she decides to send the funds, she will fail. Users are trying to find a loophole to make her execute a transaction. The first message costs $10 to send, and the cost of each subsequent message increases exponentially by 0.78%, capping at $4,500. Seventy percent of the fees go into a prize pool, while the rest goes to the developers. Starting from the 150th message, a timer begins, resetting with each message sent, and the last person to send a message when the timer ends receives 10% of the prize pool, with the remaining amount divided among the others. This challenge is similar to the previous crypto platform Fomo3D.
Next news:

TheMinerMag data shows that from 2024 to date, listed mining companies have invested a total of $3.60 billion in fixed assets (PP&E) such as plants and equipment, with expenditures in the third quarter reaching a new high since the first quarter of 2022. A total of 16 mining companies have raised over $5 billion in funding, and since 2023, expenditures on hardware upgrades have reached $2 billion. Recently, several mining companies have increased their investments; Bitfarms and Stronghold have signed a hosting agreement to add 10,000 Bitcoin mining machines in Pennsylvania. CleanSpark plans to build a 400 trillion-watt mining infrastructure, while Hive Digital has purchased 6,500 ASIC mining machines for its new facility in Paraguay. (Cointelegraph)

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.