SoSo Daily Dec 4 | South Korea's largest opposition party threatens to impeach President Yoon Suk-yeol.

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on December 4, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.71 trillion US dollars, witnessing an increase of 0.325% compared to yesterday; the total trading volume is 432.14 billion US dollars, marking a rise of 14.5% from the previous day.

According to sosovalue, the price of $BTC is 96,480 USD, an increase of 0.338% from yesterday. The market cap of $BTC is 1.91 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 92.76 billion USD, making up 21.5% of the total trading volume.
The price of $ETH is 3,681.4 USD, up 0.718% from yesterday; the market cap of $ETH is 443.39 billion USD, representing 11.9% of the total market cap; $ETH's 24-hour trading volume is 44.13 billion USD, comprising 10.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 63.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 31.7% 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 Everdome (DOME). As of 05:50 today, its market cap is 18.47M, with a coin price of 0.00068340 USD, witnessing a 24-hour increase of 139%.
The second is TRON (TRX). As of 05:50 today, its coin price is 0.40800 USD, with a 24-hour increase of 77.8%.
The third is JUST (JST). As of 05:50 today, its coin price is 0.064500 USD, showing a 24-hour increase of 56.8%.
In fourth place is SWFTCOIN (SWFTC). As of 05:50 today, its coin price is 0.0073540 USD, with a 24-hour rise of 54.2%.
In fifth place is PolkaBridge (PBR). As of 05:50 today, its coin price is 0.061130 USD, increasing by 53.8% 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, 15 are up and 1 is down. Notably, NFT, CeFi, and RWA sectors are worth mentioning.
NFT sector has risen 14.1% relative to the UTC 0 time, led by gains in dome (137%), rari (55%), and nft (40.3%).
CeFi sector has increased 13.5% relative to UTC 0, with swftc (55.1%), amp (50.1%), and ht (33.4%) leading the rise.
RWA sector has risen 9.57%, with cpool (21.8%), mpl (18.8%), and boson (18%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:South Korea's largest opposition party, the Democratic Party, has demanded President Yoon Suk-yeol's immediate resignation, threatening to initiate impeachment proceedings if he does not comply. Yoon announced the implementation of martial law and lifted it six hours later. The Democratic Party claims this action is a serious violation of the constitution and the root cause of public unrest. Following an emergency meeting in the National Assembly, the Democratic Party issued a resolution declaring the martial law invalid and unconstitutional, stating that if Yoon does not resign, they will immediately start the impeachment process.
Next news:Former Celsius CEO Alex Mashinsky has pleaded guilty to two criminal charges in a New York court. Mashinsky has been accused of securities fraud, commodity fraud, mail fraud, and other offenses. According to a report by Inner City Press, Mashinsky admitted to commodity fraud and a scheme to manipulate the price of company tokens, which could lead to a maximum of 20 years in prison. In 2023, Mashinsky was arrested on charges of defrauding customers and misleading them about Celsius's profitability. Celsius is a cryptocurrency lending company that allows customers to earn interest and take out loans. The company filed for bankruptcy in 2022 and ceased operations earlier this year. As part of Celsius's liquidation, some funds were used to create a new Bitcoin mining company, Ionic Digital. In July 2023, the Southern District Attorney of New York stated that Mashinsky repeatedly misrepresented key aspects of Celsius's business and financial condition in public to induce retail customers to provide their crypto assets to Celsius and continue using its services. The U.S. Securities and Exchange Commission also sued Celsius and Mashinsky in July 2023, accusing them of raising billions through fraudulent and unregistered cryptocurrency sales and repeatedly lying to investors.
Next news:Trump's preferred candidate for the chairman of the U.S. Securities and Exchange Commission, Paul Atkins, is unwilling to accept the position. According to sources, Atkins believes that taking over the bloated agency left by Gary Gensler is not an attractive job.
Next news:According to Blockspace, Foundry, the world's largest Bitcoin mining pool, announced today that it will lay off approximately 60% of its staff, reducing the number of employees from 250 to 80-90. This move is part of the company's strategic adjustment aimed at focusing on its core business, particularly the operation of the world's largest Bitcoin mining pool and the development of its website operations. The layoffs affected multiple teams, especially the ASIC repair and hardware teams, but the company's pool operations, firmware team, and self-mining department will still retain some staff. Foundry also relocated some employees to the new DCG subsidiary Yuma. This move is part of DCG's efforts to repair its cryptocurrency empire, which has faced financial difficulties due to the impact of the FTX bankruptcy and other factors.
Next news:South Korean President Yoon Suk-yeol announced a state of emergency martial law, leading to a decline in the local cryptocurrency market. Around 10:30 PM on Tuesday, President Yoon stated in a televised address that the emergency martial law was implemented to protect South Korea from the threats of North Korean communist forces and to eliminate anti-state elements. The martial law means direct military control over civil affairs and is typically enacted when public order is under significant threat. This announcement caused a sharp drop in cryptocurrency prices on major exchanges such as Upbit, Bithumb, and Coinone. Bitcoin fell by about 12% at one point on Upbit, while Tether (USDT) dropped to 1,200 Korean won, approximately 84 cents. Most altcoins, including Ripple (XRP), Shiba Inu, and Dogecoin, also experienced double-digit declines. The Upbit market index fell by 13.28% over the past day. Due to a surge in traffic, Upbit's mobile trading application is currently inaccessible.
Next news:NYSE Arca, the trading product platform of the New York Stock Exchange, has submitted an application for a spot Solana ETF on behalf of Grayscale Investments. The application was filed using Form 19b-4 and aims to request the U.S. Securities and Exchange Commission (SEC) to approve a rule change. Coinbase Custody Trust Company, LLC has been listed as the custodian, while BNY Mellon Asset Servicing will serve as the administrator. Over the past year, several companies, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital, have been vying for a spot Solana ETF. Market observers have noted that the election of Donald Trump as U.S. President and the resignation of SEC Chairman Gary Gensler have led to optimism in the industry regarding the approval of the Solana ETF. Grayscale has previously been granted approval for a spot Bitcoin ETF, and subsequently, the SEC also approved spot Ethereum ETFs, including Grayscale's Ethereum product.
Next news:Roger Ver, known as Bitcoin Jesus, is facing a tax evasion indictment in the US. His lawyers have filed a motion to dismiss the charges, arguing that the case violates the Constitution. Ver was arrested in Spain in April, and US prosecutors accuse him of evading over $48 million in taxes related to the sale of $240 million in tokens. The case also involves a false 'exit tax' return filed after Ver renounced his US citizenship in 2014. A Spanish judge is yet to decide on his extradition to the US.
Next news:According to Wu, monitoring by Arkham revealed that approximately 5 hours ago, an address marked as U.S. Government transferred part of the seized FTX Alameda funds to two new addresses, 0x9Ac...5Cb0 and 0x9cd...9A28. This includes 5,024 $ETH (approximately $18.22 million), 13.58 million BUSD, 54.89 billion SHIB (approximately $1.55 million), as well as AERGO, POWR, AXS, YFI, WBTC, NMR, COMP, SRM, and RLC.
Next news:GAIB, a crypto-AI startup, has raised $5 million in a pre-seed funding round led by Hack VC, with participation from Faction VC, Hashed, and others. Founded in June, GAIB aims to tokenize GPUs to make AI computing more accessible. The funding round was structured as a SAFE with token warrants. GAIB's platform will allow AI cloud companies to stake GPUs, which will be tokenized for investment. The startup plans a pilot launch this month and an alpha product launch within two months. GAIB will operate on multiple blockchains, including Ethereum and Polygon. The team, based in Singapore, plans to expand.
Next news:BNB briefly reached 774.6 USDT, setting a new all-time high.

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.