SoSo Daily Feb 5 | SEC Commissioner Hester Peirce has proposed 10 priorities for the cryptocurrency working group.
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on February 5, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.33 trillion US dollars, witnessing a decrease of 4.05% compared to yesterday; the total trading volume is 213.50 billion US dollars, marking a decline of 27.3% from the previous day.
According to sosovalue, the price of $BTC is 98,154 USD, a decrease of 0.72% from yesterday. The market cap of $BTC is 1.95 trillion USD, accounting for 58.5% of the total market cap; $BTC's 24-hour trading volume is 74.24 billion USD, making up 34.8% of the total trading volume.
The price of $ETH is 2,784.2 USD, up 3.46% from yesterday; the market cap of $ETH is 335.56 billion USD, representing 10.1% of the total market cap; $ETH's 24-hour trading volume is 50.65 billion USD, comprising 23.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.6% of the total cryptocurrency market cap, and their combined trading volumes constitute 58.5% 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 neur.sh. As of 05:50 today, its market cap is 17.72M, with a coin price of 0.019694 USD, witnessing a 24-hour increase of 71.5%.
The second is LUCE. As of 05:50 today, its coin price is 0.011720 USD, with a 24-hour increase of 58.6%.
The third is Apeiron. As of 05:50 today, its coin price is 0.058500 USD, showing a 24-hour increase of 46.6%.
In fourth place is VaderAI by Virtuals. As of 05:50 today, its coin price is 0.036205 USD, with a 24-hour rise of 46.2%.
In fifth place is Ampleforth Governance. As of 05:50 today, its coin price is 4.9220 USD, increasing by 44.7% 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, 14 are up and 2 are down. Notably, NFT, Meme, and $ETH sectors are worth mentioning.
NFT sector has risen 5.58% relative to the UTC 0 time, led by gains in VEE (41.4%), PENGU (11.8%), and LOOKS (8.14%).
Meme sector has increased 3.79% relative to UTC 0, with NEUR (75%), LUCE (71.3%), and VADER (50.4%) leading the rise.
$ETH sector has risen 3.45%, with $ETH (3.45%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Heidi Pierce, a commissioner of the U.S. Securities and Exchange Commission (SEC), outlined 10 priorities for the new cryptocurrency working group at the Blockchain Association policy summit in Washington, D.C.
Next news:
According to The New York Times, the U.S. Securities and Exchange Commission (SEC) is downsizing a department dedicated to cryptocurrency enforcement, which consists of more than 50 lawyers and staff members. This is the first concrete action taken by the Trump administration regarding the regulation of cryptocurrencies and digital assets. Some of the department's lawyers have been reassigned to other divisions, and the relocation of certain key attorneys is viewed as an unfair demotion.
Next news:David Sacks stated at a press conference attended by leaders of relevant congressional committees that the U.S. House of Representatives and Senate are forming a joint working group to advance cryptocurrency legislation. Senate Banking Committee Chairman Tim Scott indicated that the committee will first address the issue of stablecoins. Additionally, both the House and Senate will push for legislation related to market structure. House Financial Services Committee Chairman French Hill noted that, alongside the stablecoin bill, legislation similar to the "Financial Innovation and Technology for the 21st Century Act" (FIT21) will also be advanced in the House. (CoinDesk)
Next news:Bullish Global, a cryptoasset exchange backed by billionaire Peter Thiel, is contemplating an initial public offering (IPO) potentially within this year. The company is collaborating with Jefferies Financial Group Inc. for the possible listing, as per confidential sources.
Next news:The U.S. Senate has introduced a new bill proposed by Bill Hagerty aimed at regulating the use and oversight of stablecoins. The introduction of this bill marks a further deepening of the United States' regulatory efforts in the field of digital currencies.
Next news:
According to Foresight News, Coinbase's Chief Legal Officer Paul Grewal posted on X stating that Coinbase submitted a status report in its FOIA (Freedom of Information Act) lawsuit against the SEC. The report indicates that the previous SEC leadership conducted a superficial search for documents that should be made public during the $ETH 2.0 investigation, while simultaneously engaging in extensive regulation through subpoenas and lawsuits. Coinbase is requesting the court to order the SEC to conduct a thorough search and to stop delaying the provision of the required documents.
According to Foresight News, Coinbase's Chief Legal Officer Paul Grewal posted on X stating that Coinbase submitted a status report in its FOIA (Freedom of Information Act) lawsuit against the SEC. The report indicates that the previous SEC leadership conducted a superficial search for documents that should be made public during the $ETH 2.0 investigation, while simultaneously engaging in extensive regulation through subpoenas and lawsuits. Coinbase is requesting the court to order the SEC to conduct a thorough search and to stop delaying the provision of the required documents.
Next news:According to Decrypt, the XRP Ledger experienced approximately one hour of block production suspension today at block height 93,927,173. It has since returned to normal operations, with no asset or transaction losses. Ripple CTO David Schwartz explained that preliminary analysis suggests that a consensus issue may have caused validators to fail to publish normally, leading to a "drift" split in the network. Currently, XRPL validators are involved in the investigation. Recently, XRPL has faced several technical challenges, including a node crash in November 2024 and a historical node failure in September.
Next news:According to Wu's report, OnchainLens has monitored that in the past 7 hours, Tether has minted 1 billion USDT on the TRON network. Circle has minted 250 million USDC on the Solana network. Since 2025, Tether has minted a total of 2 billion USDT, while Circle has minted a total of 6.50 billion USDC on Solana.
Next news:
According to SoSoValue, as of February 4th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $340.82M.
Yesterday, Grayscale's ETF GBTC had a net inflow of $19.54M, bringing GBTC's total historical net outflow to $21.86B.
Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 0.00 ，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $1.23B.
The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $249.04M, with IBIT's total historical net inflow reaching $40.73B.
Following that, Ark Invest and 21Shares's ETF ARKB had a daily net inflow of $56.12M, with ARKB's total historical net inflow reaching $2.95B.
As of this writing, the total net asset value of Bitcoin spot ETFs stands at $116.04B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.93%. The historical cumulative net inflow has reached $40.60B.
Source: https://sosovalue.com/assets/etf
Next news:
Cryptocom plans to launch a Cronos (CRO) spot ETF in 2025 and issue its own stablecoin in the third quarter. According to its latest roadmap, Cryptocom expects to submit an ETF application in the fourth quarter, while introducing stock, options, and ETF trading in the first quarter, along with banking services such as multi-currency personal accounts and cash savings accounts. It is reported that Cryptocom has previously obtained the EU MiCA license to provide compliant digital asset services in the European Economic Area. (Cointelegraph)
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.