SoSo Daily Dec 24 | MicroStrategy Proposes Massive Share Increase to Boost Bitcoin Strategy

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on December 24, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.47 trillion US dollars, witnessing a decrease of 0.881% compared to yesterday; the total trading volume is 205.19 billion US dollars, marking an increase of 8.99% from the previous day.

According to sosovalue, the price of $BTC is 94,613 USD, a decrease of 1.04% from yesterday. The market cap of $BTC is 1.87 trillion USD, accounting for 53.9% of the total market cap; $BTC's 24-hour trading volume is 59.59 billion USD, making up 29% of the total trading volume.
The price of $ETH is 3,423.6 USD, up 3.14% from yesterday; the market cap of $ETH is 412.40 billion USD, representing 11.9% of the total market cap; $ETH's 24-hour trading volume is 32.38 billion USD, comprising 15.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 65.8% of the total cryptocurrency market cap, and their combined trading volumes constitute 44.8% 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 TIME. As of 05:50 today, its market cap is 4.10M, with a coin price of 0.0000088000 USD, witnessing a 24-hour increase of 267%.
The second is DOSE. As of 05:50 today, its coin price is 0.00091500 USD, with a 24-hour increase of 80.1%.
The third is Mongy. As of 05:50 today, its coin price is 0.00017500 USD, showing a 24-hour increase of 59.1%.
In fourth place is Saros. As of 05:50 today, its coin price is 0.021621 USD, with a 24-hour rise of 56.3%.
In fifth place is Luna by Virtuals. As of 05:50 today, its coin price is 0.14004 USD, increasing by 55.6% 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, AI, GameFi, and DePIN sectors are worth mentioning.
AI sector has risen 9.92% relative to the UTC 0 time, led by gains in LUNA (55.6%), VADER (38.1%), and GAME (25.8%).
GameFi sector has increased 7.86% relative to UTC 0, with DOSE (85.4%), VIRTUAL (23.8%), and HMSTR (20.7%) leading the rise.
DePIN sector has risen 6.75%, with SHDW (35.5%), HONEY (29.9%), and LPT (19.9%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:MicroStrategy, a leading software company and the largest corporate holder of bitcoin, has proposed a significant increase in its Class A common and preferred stock shares to enhance its bitcoin acquisition strategy. The proposal aims to raise Class A shares from 330 million to 10.33 billion and preferred shares from 5 million to 1.005 billion, as per the company's SEC filing. This move supports MicroStrategy's '21/21' plan, a $42 billion capital strategy to raise $21 billion in equity and $21 billion in fixed-income instruments, facilitating future bitcoin purchases. The company also plans a new equity incentive plan for directors and has expanded its board. Despite recent bitcoin acquisitions, MicroStrategy's stock fell 8.78% on Monday, though it has seen a 450% increase over the past year. Bitcoin's price also dropped 1.6% recently.
Next news:

According to a proposal from the Aave governance forum, Aave is considering integrating Chainlink's newly launched oracle, which aims to redirect profits gained from transaction front-running to users of decentralized finance (DeFi) protocols. Chainlink launched its Smart Value Recapture (SVR) service yesterday, which is a dedicated oracle service designed to capture maximum extractable value (MEV) profits and benefit DeFi protocols. Aave estimates that the SVR can capture approximately 40% of MEV profits, which can be transferred to the Aave DAO for the benefit of users. (Cointelegraph)

Next news:

According to Wu, FOX Business reporter Eleanor Terrett tweeted that the cryptocurrency payment service provider MoonPay is in discussions to acquire Helio, with a transaction amount of approximately $150 million. This would become MoonPay's largest acquisition to date. Helio offers a self-service cryptocurrency payment platform similar to Coinbase Commerce, serving content creators and e-commerce merchants, and supports white-label solutions, including Solana Pay, which has been integrated into the trading infrastructure of Shopify and Dexscreener.

Next news:Robinhood CEO Vladimir Tenev stated that while the idea of holding bitcoin for investment purposes arises occasionally, the company currently has no plans to do so. Robinhood's focus remains on servicing clients' trading needs rather than acting as an investment manager. Despite not holding bitcoin, Robinhood's stock performance is closely correlated with bitcoin's market movements. Analysts predict a significant increase in Robinhood's crypto revenues by 2025, and the company is expected to expand its digital asset offerings. Robinhood is also in the process of acquiring crypto exchange Bitstamp.
Next news:The trust raised 4.71 million dollars through private placement.
Next news:

According to SoSoValue, as of December 23th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $226.56M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $38.39M, bringing GBTC's total historical net outflow to $21.33B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 6.19M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $853.55M.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $31.66M, with IBIT's total historical net inflow reaching $37.36B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $105.08B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.7%. The historical cumulative net inflow has reached $35.83B.

Source: https://sosovalue.com/assets/etf

Next news:

Regarding the theft of 48.20 billion yen worth of Bitcoin from the cryptocurrency exchange DMM Bitcoin, the National Police Agency of Japan reported on December 24 that the incident was carried out by the North Korea-based hacking group TraderTraitor. South Korea has announced that the criminal facts have been established. Through a joint investigation with the FBI and the Department of Defense Cyber Crime Center (DC3), the agency identified the perpetrator of the 4.50 trillion $BTC theft that occurred in May 2024. TraderTraitor is believed to be affiliated with the North Korean hacking organization Lazarus Group, and the attack was conducted in multiple stages. (CoinDesk Japan)

Next news:

According to Forbes, Elon Musk's xAI company announced on Monday that it has raised $6 billion in its Series C funding round, with the company's valuation now exceeding $40 billion as it continues to enhance its artificial intelligence products and infrastructure. Investors include Blackrock, A16Z, Kingdom Holding, Fidelity, and Sequoia Capital, with the latter three participating in xAI's $6 billion Series B funding round in May of this year. In the funding announcement, xAI stated that it is training Grok 3.

Next news:

According to reports from @EmberCN, ETH/BTC long trader James Fickel continued to reduce his long position in the ETH/BTC exchange rate 2 hours ago: he sold 6,500 $ETH (approximately $22.24 million) to convert into 235.6 WBTC for repayment and reduction of his position. James Fickel's ETH/BTC long position peaked at the end of May, when he borrowed a total of 2,987 WBTC (worth $204.70 million) from Aave, purchasing the borrowed WBTC at an average exchange rate of 0.054 to acquire ETH.

Next news:

According to Wu, as per SoSoValue data, the total net inflow for Ethereum spot ETFs reached 131 million USD yesterday (Eastern Time, December 23). The Ethereum spot ETF with the highest single-day net inflow yesterday was the BlackRock ETF ETHA, which saw a net inflow of 89.51 million USD. Currently, ETHA's historical total net inflow has reached 3.43 billion USD.

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.