SoSo Daily Jan 2 | Pump Fun transferred 120 thousand SOL to Kraken, with remaining assets of approximately 55.19 million USD.

According to sosovalue, the price of $BTC is 95,576 USD, an increase of 1.9% from yesterday. The market cap of $BTC is 1.89 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 28.88 billion USD, making up 23.8% of the total trading volume.
The price of $ETH is 3,411.3 USD, up 1.97% from yesterday; the market cap of $ETH is 410.97 billion USD, representing 11.7% of the total market cap; $ETH's 24-hour trading volume is 16.21 billion USD, comprising 13.4% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 65.5% of the total cryptocurrency market cap, and their combined trading volumes constitute 37.2% 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 05:50 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Alchemist AI (ALCH). As of 05:50 today, its market cap is 174.68M, with a coin price of 0.20550 USD, witnessing a 24-hour increase of 67.2%.
The second is Send (SENDSOL). As of 05:50 today, its coin price is 0.10975 USD, with a 24-hour increase of 48.1%.
The third is TIME (TIMESOL). As of 05:50 today, its coin price is 0.0000015000 USD, showing a 24-hour increase of 42.8%.
In fourth place is Counterfire Economic Coin (CEC). As of 05:50 today, its coin price is 0.015123 USD, with a 24-hour rise of 42.6%.
In fifth place is Soon (SOON). As of 05:50 today, its coin price is 0.00023920 USD, increasing by 42% 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, AI, PayFi, and DeFi sectors are worth mentioning.
AI sector has risen 13.4% relative to the UTC 0 time, led by gains in ALCH (66.4%), send (46.3%), and REX (31.5%).
PayFi sector has increased 10.5% relative to UTC 0, with xlm (18%), xvg (15.5%), and velo (15.2%) leading the rise.
DeFi sector has risen 7.15%, with dfi (46.5%), smt (23.1%), and boo (21.8%) leading the rise.

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

According to Wu's report, Arkham monitoring has revealed that the pump fun: Fee Account transferred approximately 120 thousand SOL to Kraken Deposit at 0:37 UTC+8 today, worth about 22.88 million USD. Currently, pump fun still holds 172 thousand SOL and 101 thousand JITSOL, with a total value of approximately 55.19 million USD.

Next news:

According to Wu, Bithumb, the second-largest cryptocurrency exchange in South Korea, announced that it will add KRW trading pairs for PEAQ and VANA at 4 PM on January 2, 2025. PEAQ is an L1 blockchain primarily designed to serve decentralized physical infrastructure networks (DePINs) and applications built on real-world infrastructure. Vana Network is a decentralized network that grants individuals complete ownership of their data while assisting in the training process of artificial intelligence models.

Next news:

According to Wu, Evan Van Ness, the founder of Week in Ethereum News, tweeted that due to a conversation with the leadership of the Ethereum Foundation (EF) earlier this year, I announce that this newsletter will cease operations, as communication indicated they believe continuing the operation of Week in Ethereum News is not valuable. For the remainder of 2024, WiE has received minimal funding support from the Ethereum Foundation. Although this support was mostly symbolic, the EF leadership's choice to cut this insignificant support clearly indicates that WiE will immediately terminate.

Next news:

Celsius Network submitted a notice of appeal on December 31 of last year, contesting Judge John Dorsey's decision to dismiss the agency's $2 billion defamation claim against FTX. The appeal is currently scheduled to be heard by the district court. Previously, Celsius alleged that defamatory statements made by FTX executives, employees, and affiliates had a negative impact on the company's reputation and financial health, reportedly accelerating the company's bankruptcy in July 2022. (CryptoSlate)

Next news:

According to a report from Deep Tide TechFlow on January 2, based on CoinGecko data, XRP's 24-hour trading volume reached $1.12 billion in the Upbit Korean won market, accounting for 24.55% of the platform's total trading volume, far exceeding Bitcoin's trading volume of $196 million during the same period.

Stellar (XLM), Adventure Gold (AGLD), Drift Protocol (DRIFT), and Civic (CVC) ranked second, fourth, and fifth respectively, with trading volumes of $495 million, $267 million, $266 million, and $216 million.

Next news:Ethereum ($ETH) price breaks through $3,400, with a daily increase of 1.41%. According to a report by PANews on January 2, OKX market data shows that the $ETH price has just surpassed $3,400, with the current trading price at $3,400.72 per coin.
Next news:

According to Wu, Yucian, the founder of Slow Mist, tweeted that BitmapPunks, which is currently raising Ethereum Gas fees, is indeed a fully on-chain, ultra-large, hybrid collection. However, the contract has not been open-sourced for verification, so I haven't looked closely to see if there are any risks.

Next news:The IRS has announced a delay in the implementation of the cryptocurrency cost basis reporting rules until 2026. This move aims to give brokers time to adapt to the new regulations, particularly regarding the requirements to determine the cost basis of cryptocurrencies on centralized platforms. According to the new rules, if taxpayers do not choose a specific accounting method, the default method will be First In, First Out (FIFO). This regulation was originally set to take effect on January 1, 2025, but has now been postponed by one year. Shehan Chandrasekera, head of tax at CoinTracker, noted that most centralized financial brokers are not yet prepared to support methods for users to choose which specific cryptocurrency units to sell, which could lead to investors unintentionally increasing capital gains during a bull market. This extension provides brokers with a one-year buffer to develop support for alternative accounting methods. Meanwhile, the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council filed a lawsuit last week challenging the IRS's requirement for certain DeFi brokers to store and report users' personal information and transaction histories.
Next news:

Odaily Planet Daily reports that Sonic announced on its official TG channel that over 12 CEXs will launch S trading in January, replacing FTM. These exchanges include Binance, OKX, and others. Please continue to follow updates on the launch date and remain vigilant against scams.

In previous news, Sonic SVM announced the tokenomics of its native token $SONIC, with a total supply of 2.40 billion tokens, of which 57% is allocated to the community, including community and ecological development (30%), initial claims (7%), and HyperGrid rewards (20%). The TGE is scheduled for January 7, 2025, with an initial circulation of 15% of the total supply. The eligibility verification tool for the initial claim program will go live on January 3, allowing users to verify if their wallets meet the claim conditions. Meanwhile, the SonicX TikTok airdrop event will remain open until January 6.

Next news:Bitcoin has fallen below 93,000 USDT.

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.