SoSo Daily Dec 8 | Venture capitalists are skeptical about crypto and AI projects: most are expected to suffer significant losses.

According to sosovalue, the price of $BTC is 99,542 USD, an increase of 0.389% from yesterday. The market cap of $BTC is 1.97 trillion USD, accounting for 51.2% of the total market cap; $BTC's 24-hour trading volume is 55.47 billion USD, making up 26.7% of the total trading volume.
The price of $ETH is 3,972.6 USD, down 0.416% from yesterday; the market cap of $ETH is 478.47 billion USD, representing 12.4% of the total market cap; $ETH's 24-hour trading volume is 19.16 billion USD, comprising 9.23% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 63.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 35.93% 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 Chain Guardians (CGG). As of 05:50 today, its market cap is 3.19M, with a coin price of 0.028490 USD, witnessing a 24-hour increase of 141%.
The second is Supra (SUPRA). As of 05:50 today, its coin price is 0.046106 USD, with a 24-hour increase of 125%.
The third is Urolithin A ($URO). As of 05:50 today, its coin price is 0.061918 USD, showing a 24-hour increase of 103%.
In fourth place is r-CryptoCurrency Moons (MOON). As of 05:50 today, its coin price is 0.35840 USD, with a 24-hour rise of 80.6%.
In fifth place is Baby Doge Coin (BABYDOGE). As of 05:50 today, its coin price is 0.0000000041410 USD, increasing by 64.3% 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, 3 are up and 13 are down. Notably, Meme, PayFi, and AI sectors are worth mentioning.
Meme sector has risen 8.52% relative to the UTC 0 time, led by gains in wsm (106%), URO (92.6%), and babydoge (63.9%).
PayFi sector has increased 3.53% relative to UTC 0, with pip (6.03%), xrp (5.06%), and kasta (3.79%) leading the rise.
AI sector has fallen -3.47%, with vvaifu (-25.2%), AIXBT (-12.8%), and iq (-9.79%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:At The Block's first Emergence conference held in Prague, two well-known venture capitalists expressed skepticism about the potential of projects at the intersection of crypto and AI. Rob Hadick from Dragonfly pointed out that crypto projects often transfer existing successful offline technologies onto the blockchain, resulting in poor outcomes. David Pakman from CoinFund believes that the main value of AI in the crypto space lies in enhancing developers' coding efficiency. Both investors agreed that decentralized AI systems are unlikely to surpass large centralized players like OpenAI and Anthropic in this cycle. Nonetheless, Pakman praised the builders attempting to develop alternative systems. Hadick expressed skepticism towards agent projects, suggesting that it could be a winner-takes-all market, predicting that most investors will suffer significant losses. Pakman, on the other hand, suggested that agents could create synergies between AI and crypto in the future, especially in the payment sector.
Next news:

According to Wu Shuo, monitoring by Spot On Chain revealed that 9 hours ago, after the price of $ETH surpassed $4,000, Justin Sun further deposited 29,920 $ETH ($119.70 million) into HTX. This batch of $ETH is part of the 392,474 $ETH he accumulated from February to August of this year, with an average purchase price of $3,027, totaling an investment of approximately $1.19 billion. Currently, his estimated total profit from this investment is $366 million (+30%) (excluding staking rewards and airdrops).

It is worth noting that 9 hours ago, Justin Sun also deposited 322,119 EIGEN ($1.44 million) and 175,021 ETHFI ($516 thousand) into HTX, both of which were staking rewards obtained from his $ETH positions.

Next news:David Sacks, the new White House crypto czar, retweeted his ten quotes about Bitcoin, including buying Bitcoin in 2013; the importance of Bitcoin as a decentralized currency, and its role in hedging against the depreciation of fiat; not a bitcoin maximalist; investing in Bitcoin companies such as Lightning Labs, Fold, Bitwise and Bitgo; and "Bitcoin is fulfilling PayPal's original vision to create the new world currency."
Next news:

According to reports, monitoring by @ai_9684xtpa has revealed that a certain whale is accumulating LINK. The address 0x924...a2BB0 withdrew LINK worth approximately 9.63 million dollars from Binance at an average price of 24.68 dollars nine hours ago. This is the first time this address has accumulated LINK, and the whale's total asset scale reaches up to 30.98 million dollars.

Next news:

Foresight News reports that the DeFi protocol Sky (formerly MakerDAO) tweeted that after the execution vote is approved, the following parameter changes will take effect at 5:24 AM Beijing time on December 9. This includes an update on the savings rates: the Sky Savings Rate (SSR) will be increased to 12.5%, and the DAI Savings Rate (DSR) will be increased to 11.5%. Updates to the Stability Fee parameters: ETH-A will increase to 12.75%, ETH-B will increase to 13.25%, ETH-C will increase to 12.5%; WSTETH-A will increase to 13.75%, WSTETH-B will increase to 13.5%; WBTC-A will increase to 16.25%, WBTC-B will increase to 16.75%, and WBTC-C will increase to 16%.

Foresight News reports that the DeFi protocol Sky (formerly MakerDAO) tweeted that after the execution vote is approved, the following parameter changes will take effect at 5:24 AM Beijing time on December 9. This includes an update on the savings rates: the Sky Savings Rate (SSR) will be increased to 12.5%, and the DAI Savings Rate (DSR) will be increased to 11.5%. Updates to the Stability Fee parameters: ETH-A will increase to 12.75%, ETH-B will increase to 13.25%, ETH-C will increase to 12.5%; WSTETH-A will increase to 13.75%, WSTETH-B will increase to 13.5%; WBTC-A will increase to 16.25%, WBTC-B will increase to 16.75%, and WBTC-C will increase to 16%.

Next news:

According to statistics from HODL15 Capital, as of December 6, the total holdings of Bitcoin spot ETFs in the United States amount to 1,108,419 $BTC, with an AUM exceeding 111 billion USD.

Next news:

Odaily Planet Daily News: MicroStrategy founder and chairman Michael Saylor participated in strategic Bitcoin reserve discussions and shared key reasons why the U.S. needs to abandon gold and embrace digital currencies in a recent interview. In a 1-minute video, Saylor stated that $BTC can help the U.S. government maintain its position as the world reserve and capital network. He implied that his suggestion is for the U.S. government to purchase at least 20% to 25% of the circulating Bitcoin. Saylor mentioned that the U.S. could sell all its gold reserves to buy Bitcoin. If this can be achieved, this move would position the U.S. as the World Reserve Capital Network. He believes that if the U.S. government takes this step, the value of gold would plummet, prompting other economies to sell assets to buy Bitcoin. Consequently, after the demonization of gold, capital would flow back to the U.S., and the value of Bitcoin reserves could potentially soar to about 100 trillion dollars. (CoinGape)

Next news:

According to reports from @ai_9684xtpa, three weeks later, the "PEPE Band Whale with a 100% Win Rate" has resumed operations. Ten hours ago, it transferred PEPE worth $6.17 million and SHIB worth $2 million to Binance. Six hours ago, it also withdrew 109.70 billion PEPE. If the remaining portion has been entirely sold, it is expected to profit $1.71 million. The cost of PEPE is $0.00001331, and the cost of SHIB is $0.00002343.

Next news:A whale on-chain purchased 2.26 million PEPE for 91.36 billion at a price of $0.00002476.
Next news:This week, NFT trading volume reached $196.20 million, an increase of 34.23% compared to last week. According to CryptoSlam data from Crypto.news, the total trading volume in the NFT market this week amounted to $196.20 million, up from $146.50 million last week, representing a 34.23% growth. The number of NFT buyers increased to 693,833, with a growth rate of 20.29%; the number of NFT sellers rose to 402,069, with a growth rate of 15.97%. The Ethereum NFT blockchain performed the best, with sales nearly doubling to $100.90 million, a 97.33% increase compared to the previous seven days. The network attracted 61,020 buyers, a growth rate of 23.15%. Although the Bitcoin NFT ecosystem remained in second place, it saw a slight decline of 6.84%. The sales volume on the Bitcoin network was $45.10 million, but user participation remained strong, with a total of 67,188 buyers, up 22.38% from last week.

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.