SoSo Daily Feb 7 | The Czech Republic abolishes long-term cryptocurrency capital gains tax.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on February 6, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.25 trillion US dollars, witnessing a decrease of 2.39% compared to yesterday; the total trading volume is 143.78 billion US dollars, marking a decline of 1.98% from the previous day.

According to sosovalue, the price of $BTC is 96,567 USD, a decrease of 0.0465% from yesterday. The market cap of $BTC is 1.91 trillion USD, accounting for 58.8% of the total market cap; $BTC's 24-hour trading volume is 47.45 billion USD, making up 33% of the total trading volume.
The price of $ETH is 2,688.6 USD, down 3.58% from yesterday; the market cap of $ETH is 324.04 billion USD, representing 9.96% of the total market cap; $ETH's 24-hour trading volume is 30.67 billion USD, comprising 21.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.76% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.3% 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 Galaxia (GXA). As of 23:50 today, its market cap is 11.84M, with a coin price of 0.0040164 USD, witnessing a 24-hour increase of 63.9%.
The second is sudoswap (SUDO). As of 23:50 today, its coin price is 0.15811 USD, with a 24-hour increase of 60.8%.
The third is Vita Inu (VINU). As of 23:50 today, its coin price is 0.000000021343 USD, showing a 24-hour increase of 56.8%.
In fourth place is ORBIT (GRIFT). As of 23:50 today, its coin price is 0.047267 USD, with a 24-hour rise of 38.6%.
In fifth place is Paysenger EGO (EGO). As of 23:50 today, its coin price is 0.013130 USD, increasing by 37.8% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The Czech Republic plans to eliminate taxes on long-term cryptocurrency gains.
Next news:According to Globenewswire, Trump Media Technology Group (TMTG) announced that it has applied for the registration of the Truth.Fi brand trademark, planning to launch a series of "America First" themed investment products, including the Truth.Fi Made in America ETF, Truth.Fi U.S. Energy Independence ETF, and Truth.Fi Bitcoin Plus ETF, among others. TMTG stated that the plan involves up to 250 million USD in funding, which will be held by Charles Schwab and developed in collaboration with Yorkville Advisors. TMTG CEO Devin Nunes stated that the plan aims to provide investors with investment channels in areas such as U.S. energy, manufacturing, and Bitcoin, addressing the issue of de-banking.
Next news:According to Wu, CZ stated on X that during the creation of a tutorial video for the meme token issuance platform Four.meme, the BNB Chain team used TST as an example token, and the token name was inadvertently exposed at the 1:18 mark. After the video was released, KOLs in the Chinese community began trading and promoting the token. Upon discovering this, the team deleted the video, but the information had already spread online. Additionally, the team has deleted the private key for the address created in the tutorial, which holds 0.13% of TST, and neither the BNB Chain team nor Binance holds this token. CZ emphasized that this token is only a tutorial example and is not an official token of BNB Chain.
Next news:Bybit will launch BERA U based perpetual contracts.
Next news:Bitcoin has fallen below 98,000 USDT.
Next news:On February 6, the Bank of England cut interest rates by 25 basis points, lowering the benchmark rate from 4.75% to 4.5%, in line with market expectations, marking the third rate cut in this round of easing.
Next news:World Liberty Financial, a company backed by former President Donald Trump, has purchased $470,000 worth of ONDO tokens. This move highlights the growing interest in digital assets among high-profile investors and could influence market trends.
Next news:

According to Wu, the number of initial jobless claims in the United States for the week ending February 1 was 219 thousand, with an expectation of 213 thousand, and the previous value was revised from 207 thousand to 208 thousand.

Next news:

According to Bloomberg, sources have revealed that the cryptocurrency company Gemini is considering an initial public offering (IPO) this year. The company is in discussions with potential advisors regarding the listing, but no final decision has been made yet. Gemini is a cryptocurrency trading platform and custodian founded by the Winklevoss twins. Previously, Gemini also agreed to return at least $1.10 billion to customers through the bankruptcy proceedings of Genesis Global Capital.

Next news:Ethereum's upcoming Pectra upgrade, named after Electra from the Pleiades constellation, is set to begin testing in February. This upgrade is part of Ethereum's ongoing development efforts.

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.