SoSo Daily Jan 17 | Coinbase Restores Bitcoin Loans for U.S. Users Through Morpho

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on January 16, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.66 trillion US dollars, witnessing a decrease of 1.49% compared to yesterday; the total trading volume is 181.53 billion US dollars, marking an increase of 2.14% from the previous day.

According to sosovalue, the price of $BTC is 99,992 USD, a decrease of 0.288% from yesterday. The market cap of $BTC is 1.98 trillion USD, accounting for 54.2% of the total market cap; $BTC's 24-hour trading volume is 41.95 billion USD, making up 23.1% of the total trading volume.
The price of $ETH is 3,307.7 USD, down 4.08% from yesterday; the market cap of $ETH is 398.58 billion USD, representing 10.9% of the total market cap; $ETH's 24-hour trading volume is 23.82 billion USD, comprising 13.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 65.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 36.2% 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 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Zus (ZCN). As of 23:50 today, its market cap is 4.15M, with a coin price of 0.0857 USD, witnessing a 24-hour increase of 42.3%.
The second is Onyxcoin (XCN). As of 23:50 today, its coin price is 0.00422 USD, with a 24-hour increase of 41.1%.
The third is Victoria VR (VR). As of 23:50 today, its coin price is 0.01662 USD, showing a 24-hour increase of 31.9%.
In fourth place is LUKSO (LYX). As of 23:50 today, its coin price is 2.571 USD, with a 24-hour rise of 31.6%.
In fifth place is Dejitaru Tsuka (TSUKA). As of 23:50 today, its coin price is 0.007455 USD, increasing by 29.4% 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, 2 are up and 14 are down. Notably, $ETH, NFT, and AI sectors are worth mentioning.
$ETH sector has fallen -4.08% relative to the UTC 0 time, led by declines in $eth (-4.08%).
NFT sector has decreased -4.25% relative to UTC 0, with xmon (-18.6%), psl (-16.4%), and rmrk (-10.6%) leading the drop.
AI sector has fallen -5.53%, with SPORE (-26.1%), send (-22.7%), and NEUR (-20.4%) leading the decline.

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

US users (excluding New York State) can now apply for loans by collateralizing Bitcoin through Coinbase, a service supported by the DeFi protocol Morpho, marking Coinbase's re-entry into the cryptocurrency lending market. Users can directly access Morpho's over-collateralized lending services through Coinbase without needing to manage crypto assets themselves or directly interact with the DeFi protocol. This is Coinbase's second attempt at Bitcoin lending, as a previous lending program was halted in 2023 due to an SEC complaint and declining demand. Although Coinbase offers loans and covers network fees, users still need to bear the risks of interest rate fluctuations and liquidation. (DLNews)

Next news:Solana and XRP experienced a price increase following reports that former U.S. President Donald Trump is considering the establishment of an 'America-First' strategic crypto reserve. However, experts have expressed skepticism about the feasibility and implications of such a move.
Next news:Swiss state-owned bank PostFinance AG expands its digital asset services by introducing Ethereum staking. Users holding Ethereum can earn passive income through staking. PostFinance plans to offer staking services for other tokens in the near future. Staking refers to the practice of committing cryptocurrency assets to validate blockchain transactions and earn more tokens.
Next news:

According to Wu, Coinbase's international platform has announced the launch of perpetual futures for AIXBT, PNUT, and VET, with trading set to begin on January 23, 2025, at 17:30 UTC+8 or later. AIXBT is a cryptocurrency market intelligence platform, PNUT is a meme coin modeled after pet squirrels, and VET is the native token of the L1 smart contract platform VeChain.

Next news:

According to Wu, Binance has released an official announcement stating that starting from January 20, Binance will gradually adjust the deposit and withdrawal processes for cryptocurrency assets for users in Poland and Belgium to comply with EU regulatory requirements. The new regulations require that deposits exceeding €1,000 (or equivalent currency) must provide sender information, and withdrawals of any amount must provide recipient information, including full name, country, and exchange name (if applicable). If users fail to provide the required information, the transaction may be delayed or returned.

Next news:

Tether announced the first deployment of its new token USDT0 on Kraken's Ethereum scaling network Ink, aiming to leverage LayerZero's Omnichain Fungible Token Standard to develop a cross-chain liquidity layer, simplifying the cross-chain transfer of USDT. Meanwhile, Kraken's Ink network has been incorporated into the Optimism security council since its launch in December and has released a version of the Velodrome DEX. (TheBlock)

Next news:According to Bloomberg, cryptocurrency wallet provider Phantom Technologies Inc. has announced the completion of a $150 million financing round, led by Sequoia Capital and Paradigm, with the company’s valuation reaching $3 billion, doubling from previous figures. Recently, Phantom has seen a rise in its wallet application rankings on the iPhone App Store due to the perception that newly elected U.S. President Trump will bring a more favorable regulatory environment for cryptocurrencies. Phantom is a non-custodial wallet that initially gained popularity within the Solana ecosystem and now supports multiple blockchains, including Ethereum and Bitcoin.
Next news:

Web3 gaming company Hyve Labs has raised $2.75 million in a pre-seed funding round, led by Framework Ventures, with participation from Volt Capital, Builder Capital, 32 Bit Ventures, and several angel investors. Hyve Labs is developing a game rollup protocol based on technologies like EigenDA, serving as a game launcher and supporting integration on social platforms such as Telegram, Discord, and Farcaster. The company plans to use the funds to expand its team and develop core infrastructure, including launching a testnet chain, its first game, and other on-chain assets. (TheBlock)

Next news:Insiders: eToro applies for IPO in the US, with a valuation expected to reach 5 billion dollars.
Next news:According to reports from Wu Shuo, Solid Intel has informed that the Nasdaq exchange has submitted a 19b-4 application for the Canary Litecoin ETF, which means that the product has officially entered the SEC regulatory review process. https://t.co/hnAlJNTsZO

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.