SoSo Daily Dec 7 | The U.S. non-farm payroll data for November is about to be released, and the probability of the Federal Reserve lowering interest rates in December is 71.8%.

According to sosovalue, the price of $BTC is 99,777 USD, an increase of 2.92% from yesterday. The market cap of $BTC is 1.97 trillion USD, accounting for 51.4% of the total market cap; $BTC's 24-hour trading volume is 126.78 billion USD, making up 35.1% of the total trading volume.
The price of $ETH is 3,999.6 USD, up 5.66% from yesterday; the market cap of $ETH is 481.72 billion USD, representing 12.5% of the total market cap; $ETH's 24-hour trading volume is 57.96 billion USD, comprising 16% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 63.9% of the total cryptocurrency market cap, and their combined trading volumes constitute 51.1% 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 Across Protocol (ACX). As of 23:50 today, its market cap is 473.12M, with a coin price of 1.0657 USD, witnessing a 24-hour increase of 86.3%.
The second is Orca (ORCA). As of 23:50 today, its coin price is 6.8900 USD, with a 24-hour increase of 81.9%.
The third is Numogram (GNON). As of 23:50 today, its coin price is 0.018689 USD, showing a 24-hour increase of 81.3%.
In fourth place is SynFutures (F). As of 23:50 today, its coin price is 0.10870 USD, with a 24-hour rise of 81.2%.
In fifth place is NexGami (NEXG). As of 23:50 today, its coin price is 0.0012100 USD, increasing by 75.4% 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, DeFi, PayFi, and AI sectors are worth mentioning.
DeFi sector has risen 10.3% relative to the UTC 0 time, led by gains in vela (223%), acx (88.6%), and orca (84.6%).
PayFi sector has increased 6.72% relative to UTC 0, with velo (37.6%), SVL (15.9%), and math (8.47%) leading the rise.
AI sector has risen 6.48%, with vxv (35%), vvaifu (34%), and ZEREBRO (29.3%) leading the rise.

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

According to Deep Tide TechFlow, the U.S. non-farm payroll data for November will be released tonight at 21:30 (Beijing time) on December 6. According to CME's "FedWatch" data, the market expects a 71.8% probability that the Federal Reserve will cut interest rates by 25 basis points in December. The market anticipates an increase of 200 thousand in non-farm payrolls for November, compared to the previous value of 12 thousand; the unemployment rate is expected to be 4.2%, up from the previous value of 4.1%.

Next news:In November, the United States added 227 thousand jobs, exceeding the expected 200 thousand. This employment report, released on Friday morning, is one of the last key economic data points the Federal Reserve will see before its interest rate decision in mid-December.
Next news:The UK's financial regulatory authority has warned that the memecoin launch platform Pump.fun is operating in the UK without permission. The Financial Conduct Authority (FCA) issued a warning on December 3, stating that Pump.fun may be offering or promoting financial services or products in the UK, advising the public to avoid trading with the company and to be wary of scams. According to the FCA's website, companies providing cryptocurrency-related services must register to comply with anti-money laundering regulations. Pump.fun has not yet made a statement regarding this matter.
Next news:Former New York Federal Reserve Bank President Bill Dudley criticized Trump's proposal for a federal Bitcoin reserve in a column for Bloomberg. Dudley believes that a Bitcoin reserve could lead to inflation, which would be detrimental to the government. He pointed out that purchasing Bitcoin would require borrowing by the Treasury or printing money by the Federal Reserve. Trump stated in a July meeting that he would create a national Bitcoin reserve, and Republican Senator Cynthia Lummis is also pushing for related legislation. Dudley suggested that the new government should focus on regulatory development for the crypto industry.
Next news:The Federal Deposit Insurance Corporation (FDIC) has requested financial institutions to suspend cryptocurrency-related activities, a disclosure made through a letter obtained in the lawsuit filed by Coinbase. Coinbase alleges that the FDIC is attempting to sever the connection between the cryptocurrency industry and the banking sector and has requested the FDIC's "suspension letter." These letters indicate that the FDIC has not determined the regulatory documents required for banks to engage in such activities and has demanded a halt to all activities related to crypto assets. The FDIC also requested financial institutions to provide crypto-related documentation, including cost-benefit analyses, disclosures, and marketing materials. Coinbase plans to ask the court to determine whether it should be granted an unredacted version of the suspension letter.
Next news:The Czech Republic has passed a law that exempts capital gains tax for Bitcoin held for over three years. The law was unanimously approved by parliament on December 6 and will take effect on January 1, 2025. According to the news website Parlamentní Listy, the new tax law stipulates clear conditions under which cryptocurrency transactions can be exempt from personal taxation. Individuals whose annual total income from cryptocurrency transactions does not exceed 100 thousand Czech koruna (approximately 4,000 USD) and who hold their digital assets for more than three years before selling them can enjoy tax exemption. This policy encourages a long-term holding strategy. Czech Prime Minister Petr Fiala stated on the X platform that the new tax law "ensures that if cryptocurrencies are held for more than three years, their sale will not be taxed." Furthermore, digital assets that have not been part of commercial assets for at least three years after ceasing self-employment also qualify for tax exemption. The new framework also applies in some cases to digital assets acquired before 2025, as long as they are sold in subsequent tax years under the stipulated conditions. The reforms in the Czech Republic are expected to integrate into the EU's Markets in Crypto-Assets (MiCA) framework, which will come into full effect on December 30, 2024. MiCA establishes standardized regulations for cryptocurrencies in the EU, creating a unified legal framework. With this reform, the Czech Republic joins countries like Switzerland and the UAE in providing tax incentives for long-term cryptocurrency holders.
Next news:The total holdings of the 12 spot Bitcoin ETFs in the United States have surpassed the estimated 1.10 million $BTC held by Bitcoin's creator, Satoshi Nakamoto, for the first time. BlackRock's IBIT product leads with 408.87 $BTC, followed by Fidelity's FBTC at 241.85 $BTC in second place, and Grayscale's GBTC fund in third with 213.20 BTC. Since these ETFs began trading in January, they have seen a net inflow of over 30 billion USD, with total assets under management exceeding 100 billion USD. Although Satoshi may be the largest holder of Bitcoin, other entities also hold significant amounts of Bitcoin. MicroStrategy holds 331.20 $BTC, making it the largest corporate holder, while the United States holds 208.11 $BTC, making it the largest national holder. The estimated holdings of Satoshi are based on analyses of early Bitcoin mining patterns, although some researchers believe this figure may be overstated.
Next news:

According to Foresight News, as per the official announcement, Bitget has launched the U-based ORCA perpetual contract, with a maximum leverage of 20 times. Contract strategy trading will be opened simultaneously.

According to Foresight News, as per the official announcement, Bitget has launched the U-based ORCA perpetual contract, with a maximum leverage of 20 times. Contract strategy trading will be opened simultaneously.

Next news:The price of Ether has surpassed $4,000, marking the first time since March. The surge was driven by a spike in Coinbase premiums and the number of active Ethereum addresses.
Next news:eToro is collaborating with Goldman Sachs for a potential IPO in the US. The trading platform aims to go public possibly by the second quarter, although this timeline may change. eToro is targeting a valuation higher than the $3.5 billion it reached in a private funding round last year.

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.