SoSo Daily Nov 30 | Ethena and Securitize Promote USDtb Stablecoin for Spark's $1 Billion Tokenization Competition

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 23:50 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 Vela Token. As of 23:50 today, its coin price is 0.094200 USD, with a 24-hour increase of 223%.
The third is Opus. As of 23:50 today, its coin price is 0.055396 USD, showing a 24-hour increase of 146%.
In fourth place is IRISnet. As of 23:50 today, its coin price is 0.016080 USD, with a 24-hour rise of 106%.
In fifth place is Wall Street Memes. As of 23:50 today, its coin price is 0.0025700 USD, increasing by 106% 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, 16 are up and 0 are down. Notably, PayFi, Meme, and GameFi sectors are worth mentioning.
PayFi sector has risen 13.1% relative to the UTC 0 time, led by gains in XRP (16.6%), LTC (9.48%), and XLM (9.04%).
Meme sector has increased 5.54% relative to UTC 0, with OPUS (144%), WSM (106%), and VINU (89.6%) leading the rise.
GameFi sector has risen 4.38%, with RBLS (58.9%), MYRIA (30.3%), and VIRTUAL (27.8%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Ethena and Securitize are promoting Ethena's new stablecoin, USDtb, for Spark's $1 billion tokenization competition. Spark, a lending platform in the Sky ecosystem, is offering up to $1 billion in liquidity to selected partners. The competition results will be decided by Sky token holders through a governance vote. Ethena's proposal includes a swap facility for USDtb and USDe, another stablecoin by Ethena, to help manage asset allocations in the Sky ecosystem. USDtb's reserves will be invested in BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, making up over 90% of its initial backing. Ethena contributes about $120 million annually to the Sky ecosystem, nearly 30% of its total revenue.
Next news:

According to DL News, the memecoin site Pump.fun saw a 33% drop in revenue after it stopped its live broadcasts. The site allowed users to create and launch their own memecoins, and as of November 24, its daily revenue had increased nearly fivefold to $5 million. However, due to recent controversies and user concerns regarding its live broadcast content, it has suspended its live features, resulting in a one-third drop in revenue this week to $3.60 million.

Next news:

According to reports, usdx.money has announced that it has secured $45 million in funding, with a valuation of $275 million. This round includes investments from NGC, BAI Capital, Generative Ventures, and UOB Venture Management, with some investments made in the form of warrants. Existing investors include Dragonfly Capital and Jeneration Capital. usdx.money aims to build the next generation of stablecoin infrastructure, with its stablecoin product USDX supported by a multi-asset arbitrage strategy.

Next news:According to Wu, Parity Technologies, the parent company of Polkadot, announced that the official version of Polkadot 2.0 is expected to go live in the first quarter of 2025. A key feature of Polkadot 2.0, Elastic Scaling, is currently undergoing early testing on the Kusama network and supports a single parachain using multiple cores to enhance network performance.
Next news:According to CoinPost, the Financial Services Agency (FSA) of Japan has issued warning letters to five unregistered overseas cryptocurrency exchanges, including KuCoin, bitcastle LLC, Bybit Fintech Limited, MEXC Global, and Bitget Limited. The FSA pointed out that these exchanges are providing cryptocurrency trading services to Japanese users without permission, violating relevant regulations regarding cryptocurrency asset trading in Japan. As unregistered exchanges are not regulated by the FSA, the management and security of customer assets cannot be guaranteed. In the event of disputes or incidents, users may not receive legal protection and the assets may not be subject to preservation or compensation mechanisms under Japanese law.
Next news:

According to BitMEX Research, the U.S. Court of Appeals has rejected Craig Wright's appeal in the case against the Crypto Open Patent Alliance (COPA). Previously, in October, Craig Wright also filed a lawsuit against Bitcoin Core and Jack Dorsey's company, Square, and represented himself as legal counsel.

Next news:

According to Foresight News, data from Coinglass shows that in the past 24 hours, the total liquidations across the network reached 203.00 million USD, with long positions liquidated at 130 million USD and short positions liquidated at 73.68 million USD. Among these, Bitcoin liquidations amounted to 36.22 million USD, while Ethereum liquidations totaled 36.43 million USD.

According to Foresight News, data from Coinglass shows that in the past 24 hours, the total liquidations across the network reached 203.00 million USD, with long positions liquidated at 130 million USD and short positions liquidated at 73.68 million USD. Among these, Bitcoin liquidations amounted to 36.22 million USD, while Ethereum liquidations totaled 36.43 million USD.

Next news:JUST IN: $870 billion asset manager Macquarie says #Bitcoin mining supports local grids.
Next news:JUST IN: $XRP officially surpasses a $100 billion market cap.
Next news:Binance will delist the Gifto (GFT) spot trading pair.

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.