SoSo Daily Feb 7 | Ethereum's Pectra Upgrade Testing to Start in February

According to sosovalue, the price of $BTC is 97,337 USD, a decrease of 0.505% from yesterday. The market cap of $BTC is 1.93 trillion USD, accounting for 58.7% of the total market cap; $BTC's 24-hour trading volume is 44.20 billion USD, making up 30.3% of the total trading volume.
The price of $ETH is 2,713.9 USD, down 4.18% from yesterday; the market cap of $ETH is 327.10 billion USD, representing 9.95% of the total market cap; $ETH's 24-hour trading volume is 30.87 billion USD, comprising 21.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.65% of the total cryptocurrency market cap, and their combined trading volumes constitute 51.5% 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 Berachain. As of 05:50 today, its market cap is 821.69M, with a coin price of 7.6450 USD, witnessing a 24-hour increase of 665%.
The second is sudoswap. As of 05:50 today, its coin price is 0.18376 USD, with a 24-hour increase of 78.1%.
The third is Galaxia. As of 05:50 today, its coin price is 0.0040170 USD, showing a 24-hour increase of 63.9%.
In fourth place is Vita Inu. As of 05:50 today, its coin price is 0.000000021037 USD, with a 24-hour rise of 53.5%.
In fifth place is r-CryptoCurrency Moons. As of 05:50 today, its coin price is 0.16470 USD, increasing by 38.8% 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, 0 are up and 16 are down. Notably, Layer2, Meme, and AI sectors are worth mentioning.
Layer2 sector has fallen 5.56% relative to the UTC 0 time, led by declines in SCR (-25.4%), FUEL (-10.5%), and ZRC (-9.95%).
Meme sector has decreased 6.21% relative to UTC 0, with $TIME (-40.9%), opus (-27.4%), and clay (-22.6%) leading the drop.
AI sector has fallen 6.98%, with opus (-27.4%), ALCH (-24.8%), and SPORE (-20.1%) leading the decline.

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

According to SoSoValue, as of February 6th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $140.30M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $42.21M, bringing GBTC's total historical net outflow to $21.91B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net inflow of $ 5.15M，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $1.24B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $113.51B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.91%. The historical cumulative net inflow has reached $40.53B.

Source: https://sosovalue.com/assets/etf

Next news:

According to SoSoValue data, yesterday (February 6, Eastern Time) the total net inflow for Ethereum spot ETFs was $10.65 million. The Ethereum spot ETF with the highest net inflow yesterday was BlackRock's ETF ETHA, which had a net inflow of $10.65 million for the day. Currently, the historical total net inflow for ETHA has reached $4.42 billion.

Next news:

According to Wu's report and monitored by Arkham, the Fee Account of pump fun transferred approximately 140,285 SOL to Kraken Deposit at 3:45 UTC+8 today, valued at around 26.62 million USD. Currently, pump fun also holds 45,893 SOL and 101 thousand JITSOL, with a total value of approximately 31.67 million USD.

Next news:

Franklin Templeton Investments has indicated that the company is seeking regulatory approval to launch a new cryptocurrency index ETF. Currently, several companies have applied for approval of ETFs for cryptocurrencies other than Bitcoin and Ethereum, such as SOL and XRP, and these ETF approvals are still pending. Franklin Templeton stated in a regulatory filing: "The fund may not currently hold any digital assets other than $BTC and ETH. It is still uncertain whether other digital assets will be added to the underlying index in the future." If other cryptocurrency ETF applications receive approval from the U.S. SEC, this would provide Franklin with the opportunity to modify its ETF. (Reuters)

Next news:

According to Wu, Bloomberg ETF analyst James Seyffart has reported that the U.S. Securities and Exchange Commission (SEC) has acknowledged the 19b-4 filing submitted by Grayscale for Solana. Previously, the SEC had rejected multiple attempts to process filings related to Solana.

Next news:

According to Foresight News, on-chain data analyst @ai_9684xtpa monitored that a certain whale cleared out the last 20.12 billion PEPE tokens 11 hours ago, with a cumulative loss of approximately $1.23 million over three months. This address accumulated 351.30 billion PEPE tokens at an average price of $0.00001722 between November and December 2024, and reduced its position by nearly 40% a month ago at the price of $0.00002066, clearing out all remaining holdings today.

According to Foresight News, on-chain data analyst @ai_9684xtpa monitored that a certain whale cleared out the last 20.12 billion PEPE tokens 11 hours ago, with a cumulative loss of approximately $1.23 million over three months. This address accumulated 351.30 billion PEPE tokens at an average price of $0.00001722 between November and December 2024, and reduced its position by nearly 40% a month ago at the price of $0.00002066, clearing out all remaining holdings today.

Next news:

According to reports from Bitcoin Magazine, legislation allowing the state of Utah in the United States to invest in Bitcoin has passed the House of Representatives and is now submitted to the Senate for review. Earlier in January, Utah State Representative Jordan Teuscher proposed legislation regarding a Bitcoin strategic reserve, aiming to authorize the state treasurer to invest in digital assets.

Next news:According to Wu Shuo, Bloomberg reports that Chase Herro, co-founder of the Trump family project World Liberty Financial, stated that the platform plans to build a "strategic reserve" using purchased tokens. Herro was introduced by Donald Trump Jr., the eldest son of Trump, and attended a roundtable discussion at the first Ondo Finance summit in New York along with World Liberty Financial's other two co-founders, Zak Folkman and Zach Witkoff. Zach Witkoff is the son of Steve Witkoff, a close ally of Trump, who helped the Trump family connect with the founding team of World Liberty Financial. He has now been nominated by Trump as a special envoy to the Middle East.

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.