SoSo Daily Jan 31 | The Czech National Bank is considering Bitcoin as a reserve asset.

According to sosovalue, the price of $BTC is 104,720 USD, an increase of 0.954% from yesterday. The market cap of $BTC is 2.08 trillion USD, accounting for 55.8% of the total market cap; $BTC's 24-hour trading volume is 42.28 billion USD, making up 33.5% of the total trading volume.
The price of $ETH is 3,247.2 USD, up 4.28% from yesterday; the market cap of $ETH is 391.33 billion USD, representing 10.5% of the total market cap; $ETH's 24-hour trading volume is 19.63 billion USD, comprising 15.6% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.3% of the total cryptocurrency market cap, and their combined trading volumes constitute 49.1% 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 ECOx. As of 23:50 today, its market cap is 38.96M, with a coin price of 0.090240 USD, witnessing a 24-hour increase of 86.8%.
The second is Peng. As of 23:50 today, its coin price is 0.046693 USD, with a 24-hour increase of 76.9%.
The third is Neon. As of 23:50 today, its coin price is 0.39038 USD, showing a 24-hour increase of 72.3%.
In fourth place is PAWSWAP. As of 23:50 today, its coin price is 0.000000023040 USD, with a 24-hour rise of 57.5%.
In fifth place is Usual. As of 23:50 today, its coin price is 0.44780 USD, increasing by 50.4% 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, RWA, Others, and DePIN sectors are worth mentioning.
RWA sector has risen 11% relative to the UTC 0 time, led by gains in Usual (51.5%), om (21%), and cpool (13.1%).
Others sector has increased 6.03% relative to UTC 0, with neon (76.4%), crts (30.8%), and ad (27.8%) leading the rise.
DePIN sector has risen 5.59%, with ar (25.7%), ator (12.6%), and wifi (12.4%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Czech National Bank has approved a proposal to research Bitcoin as a reserve asset.
Next news:

Odaily Planet Daily reported that, according to official information, Grayscale has launched a Bitcoin Mining ETF (MNRS), which is listed on the NYSE Arca. MNRS tracks the performance of the Indxx Bitcoin Miners Index, providing investors with investment opportunities in global Bitcoin mining companies. The current market price of the ETF is $25.31, and its top ten holdings include major mining companies such as Marathon Holdings (16.66%), Riot Platforms (11.92%), and Core Scientific (9.2%).

Next news:

According to Wu, the European Central Bank has lowered the deposit facility rate by 25 basis points to 2.75%, in line with market expectations, marking the fourth consecutive meeting in which the rate has been cut by 25 basis points. The main refinancing rate and the marginal lending rate have been reduced from 3.15% and 3.40% to 2.90% and 3.15%, respectively. The European Central Bank indicated that it will adopt a data-dependent approach and make decisions at successive meetings, stating that it aims to return to its medium-term target of 2% within this year.

Next news:

Cryptocurrency exchange Kraken has announced the reopening of on-chain staking services for users in 39 U.S. states, supporting 17 assets including $ETH, SOL, DOT, and ADA. Previously, Kraken reached a settlement with the U.S. Securities and Exchange Commission (SEC) in February 2023, agreeing to terminate its staking services and pay a $30 million fine. Mark Greenberg, Kraken's global head of consumer, stated that the resumption of staking services is not only positive for Kraken but also beneficial for the entire U.S. crypto industry. Currently, the staked assets of U.S. users will also be protected by third-party slashing insurance. (CoinDesk)

Next news:According to Wu Shuo, monitoring by Arkham revealed that Ross Ulbricht, the founder of "Silk Road," or the operator of his wallet, lost approximately 12 million USD in a Pumpfun token transaction on the Solana chain due to a liquidity addition error. The donation address received 50% of the total supply of ROSS tokens transferred in by developers last week, and subsequently attempted to provide unilateral liquidity on Raydium. However, due to an initialization pool price error, 1.50 million USD (5% of the supply) was instantaneously arbitraged by an MEV bot and sold off to the market. The address then made another erroneous operation, resulting in a loss of 10.50 million USD (35% of the supply), causing the ROSS price to plummet by 90% instantly. Currently, Ross still holds 10% of the supply and has correctly added LP to the concentrated liquidity pool on Raydium.
Next news:Wu learned that Coinbase's international platform announced the launch of AXS, XTZ, and EGLD perpetual futures, with trading set to open on February 6, 2025, at 17:30 UTC+8 or later.
Next news:Apollo Global Management has launched a tokenized private credit fund, marking a significant step in integrating blockchain technology with traditional finance (TradFi). This move aims to enhance transparency and efficiency in private credit markets. The fund will utilize blockchain to streamline operations and provide investors with more accessible and secure investment opportunities. This development reflects a growing trend of financial institutions adopting blockchain to modernize and improve financial services.
Next news:The parents of FTX co-founder Sam Bankman-Fried are seeking a pardon for their son from former President Donald Trump. According to informed sources, Stanford Law School professors Joseph Bankman and Barbara Fried have met in recent weeks with lawyers and others believed to have close ties to Trump to discuss seeking a pardon for their 32-year-old son. Sam Bankman-Fried was sentenced to 25 years in prison for fraud. It is unclear whether they have reached out to the White House.
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According to Wu, the New York Stock Exchange (NYSE) has submitted Form 19b-4, applying to list and trade the Grayscale XRP Trust, which means it will be upgraded or converted into an Exchange-Traded Fund (ETF).

Next news:

According to Wu, the U.S. Securities and Exchange Commission has approved the rule change application proposed by the New York Stock Exchange Arca, allowing the listing and trading of shares of the Bitwise Bitcoin and Ethereum ETF on its exchange. According to the proposal, the Bitwise Bitcoin and Ethereum ETF will hold spot Bitcoin and spot Ethereum based on the market capitalization weighting of Bitcoin and Ethereum.

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.