SoSo Daily Feb 6 | Blackrock Plans to Launch Bitcoin ETP in Europe: Bloomberg
Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on February 5, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.29 trillion US dollars, witnessing a decrease of 2.19% compared to yesterday; the total trading volume is 146.68 billion US dollars, marking a decline of 36.3% from the previous day.
Cryptocurrency Market Update
According to sosovalue, the price of $BTC is 96,593 USD, a decrease of 1.2% from yesterday. The market cap of $BTC is 1.91 trillion USD, accounting for 58.2% of the total market cap; $BTC's 24-hour trading volume is 45.76 billion USD, making up 31.2% of the total trading volume.
The price of $ETH is 2,786.4 USD, up 2.02% from yesterday; the market cap of $ETH is 335.83 billion USD, representing 10.2% of the total market cap; $ETH's 24-hour trading volume is 33.47 billion USD, comprising 22.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.4% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.0% 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 23:50 today, its market cap is 1.12B, with a coin price of 0.0024020 USD, witnessing a 24-hour increase of 209000%.
The second is Maro. As of 23:50 today, its coin price is 0.00039800 USD, with a 24-hour increase of 109%.
The third is BLOCKv. As of 23:50 today, its coin price is 0.042142 USD, showing a 24-hour increase of 64.1%.
In fourth place is Holograph Utility Token. As of 23:50 today, its coin price is 0.0011460 USD, with a 24-hour rise of 37.7%.
In fifth place is Ferrum Network. As of 23:50 today, its coin price is 0.0022900 USD, increasing by 32.4% over the last 24 hours.
Sector Performance in the Crypto Market
According to sosovalue, out of 16 sectors, 2 are up and 14 are down. Notably, the DePIN, AI, and PayFi sectors are worth mentioning.
DePIN Sector
The DePIN sector has fallen by 3.58% relative to the UTC 0 time, led by declines in ZCN (-25.2%), NOS (-9.27%), and XYO (-9.12%).
AI Sector
The AI sector has decreased by 4.79% relative to UTC 0, with BUZZ (-25.3%), GRIFFAIN (-23.5%), and FARTCOIN (-23.3%) leading the drop.
PayFi Sector
The PayFi sector has fallen by 5.11%, with CIRUS (-16.5%), RUBY (-14.5%), and BTG (-9.67%) leading the decline.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Blackrock is planning to launch a Bitcoin Exchange Traded Product (ETP) in Europe, according to Bloomberg. This move signifies a significant step in the adoption of cryptocurrency investment products by major financial institutions in the European market.
Next news:
Foresight News reports that the Federal Deposit Insurance Corporation (FDIC) of the United States has released 175 documents related to the regulation of cryptocurrency activities, concerning the oversight of banks that are involved in or attempting to engage in crypto-related businesses.
Foresight News reports that the Federal Deposit Insurance Corporation (FDIC) of the United States has released 175 documents related to the regulation of cryptocurrency activities, concerning the oversight of banks that are involved in or attempting to engage in crypto-related businesses.
Next news:According to Wu's report, as per the official announcement, Binance HODLer airdrop has launched its 7th project - Berachain (BERA). Users who subscribe to the Simple Earn product with BNB from 2025-01-22 00:00 (UTC) to 2025-01-26 23:59 (UTC) will receive airdrop allocations. Binance will list BERA on 2025-02-06 13:00 (UTC) and open trading for $BTC, USDT, USDC, BNB, FDUSD, and TRY pairs. Seed tags will be applied to BERA.
Next news:According to Wu, Arkham monitoring revealed that the Ethereum Foundation: Grant Provider transferred 220.452 $ETH (approximately 618 thousand USD) to the 4/8 multi-signature contract: 0xeF...27ec at 20:08 UTC+8 today, possibly as a donation to BuidlGuidl. The signers of this 4/8 multi-signature contract include BuidlGuidl founder Austin Griffith, BuidlGuidl team member pabl0cks.eth, and two addresses containing the ENS label buidlguidl.
Next news:Wu has learned that the Federal Deposit Insurance Corporation (FDIC) of the United States has released 175 documents today regarding the regulatory situation of banks involved or attempting to engage in cryptocurrency-related businesses. Acting Chairman Travis Hill stated that previous requests from banks for cryptocurrency business have generally encountered resistance, including repeated requests from regulators for supplementary information, long periods without response, or direct instructions to suspend all cryptocurrency and blockchain activities, leading most banks to ultimately abandon their related attempts. Hill mentioned that the FDIC is reassessing the regulatory approach to cryptocurrency-related businesses and plans to replace the regulatory guidance from 2022 (FIL 16-2022) to provide a compliance pathway for banks engaging in cryptocurrency business.
Next news:
According to Wu, the ADP employment number in the United States for January was 183 thousand, compared to an expectation of 150 thousand and a previous value of 122 thousand. The "little non-farm" employment figure slightly exceeded expectations, marking the highest level since October of last year.
Next news:According to a report by Chainalysis, ransomware payments decreased by 35% in 2024, as an increasing number of victims choose not to pay the ransom. This trend indicates that victims are taking a tougher stance in response to cyberattacks.
Next news:MicroStrategy has rebranded itself as Strategy. The announcement was made by Executive Chairman Michael Saylor. This change reflects the company's evolving focus and strategic direction.
Next news:
Cryptocurrency infrastructure startup Reservoir announced the completion of a $14 million Series A funding round, led by Union Square Ventures, with participation from Coinbase Ventures, Variant, Archetype, 1kx, and others. This round of financing utilized equity financing and token warrants, bringing the total funding amount to $26 million. Founded in 2021, Reservoir initially focused on providing infrastructure to integrate NFT transactions into applications, with clients including Coinbase, OpenSea, and others. (The Block)
Next news:
According to Wu, MicroStrategy (now renamed Strategy) released its Q4 2024 financial report, announcing that the company's $BTC Yield for 2024 is 74.3%, and it has adjusted its 2025 target to over 15%. The company plans to achieve a $BTC Gain of $10 billion in 2025. As of December 31, 2024, the company holds approximately 447,470 bitcoins, with a market value of $23.91 billion. The company has also raised funds through stock issuance, convertible bonds, and preferred stock financing, including the issuance of 7,300,000 perpetual preferred shares in January 2025. Despite a 3% decline in software business revenue in the fourth quarter, subscription service revenue grew by 48.4%. Fourth-quarter operating expenses surged to $1.10 billion, including digital asset impairment losses of $1.01 billion, resulting in a net loss of $670.80 million for the company. The company will launch an information disclosure platform on its official website to regularly update key financial indicators including $BTC Yield and $BTC Gain.
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.