SoSo Daily Feb 20 | Manifold Trading allegedly reduced its position by 3 million OM, which would yield a profit of 22.70 million USD if sold.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on February 20, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.33 trillion US dollars, witnessing a decrease of 0.536% compared to yesterday; the total trading volume is 92.96 billion US dollars, marking a decline of 21.4% from the previous day.

According to sosovalue, the price of $BTC is 97,208 USD, an increase of 0.814% from yesterday. The market cap of $BTC is 1.93 trillion USD, accounting for 57.9% of the total market cap; $BTC's 24-hour trading volume is 25.96 billion USD, making up 27.9% of the total trading volume.
The price of $ETH is 2,741.5 USD, up 0.532% from yesterday; the market cap of $ETH is 330.51 billion USD, representing 9.93% of the total market cap; $ETH's 24-hour trading volume is 13.71 billion USD, comprising 14.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.83% of the total cryptocurrency market cap, and their combined trading volumes constitute 42.6% 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 Pi Network. As of 11:50 today, its market cap is 0E-8, with a coin price of 1.2592 USD, witnessing a 24-hour increase of 1160%.
The second is Neiro on ETH. As of 11:50 today, its coin price is 0.000034816 USD, with a 24-hour increase of 454%.
The third is tokenbot. As of 11:50 today, its coin price is 72.200 USD, showing a 24-hour increase of 111%.
In fourth place is Sundog. As of 11:50 today, its coin price is 0.065600 USD, with a 24-hour rise of 69.5%.
In fifth place is jelly-my-jelly. As of 11:50 today, its coin price is 0.0087097 USD, increasing by 67.5% over the last 24 hours.

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

According to Wu's report, on-chain analyst @ai_9684xtpa has monitored that the quantitative investment firm Manifold Trading may be reducing its holdings of 3 million OM tokens, which were purchased at a price of $0.04 in November 2023. If sold, this would yield a profit of $22.70 million. As of now, the total profit per OM token for this institution has exceeded $50.57 million.

Next news:

According to Foresight News, Whale Alert has monitored that an unknown wallet destroyed 17,362 MKR, valued at approximately $20.21 million.

According to Foresight News, Whale Alert has monitored that an unknown wallet destroyed 17,362 MKR, valued at approximately $20.21 million.

Next news:On-chain data analysis platform Nansen's research shows that the meme coin incident related to Argentine President Javier Milei led to an 86% loss for traders, with total losses reaching $251.00 million, while winners earned $180 million, resulting in an overall "net negative wealth event." LIBRA launched on February 14 on the decentralized exchange Meteora within the Solana ecosystem and briefly surged to a market cap of $4.50 billion due to Milei's promotion on the X platform, but subsequently plummeted 90% in market cap due to massive sell-offs from internal addresses. Milei later deleted related posts and claimed he "did not understand the project details." The Argentine opposition criticized the incident as an "international scandal" and threatened to initiate impeachment. (CoinDesk) https://t.co/cdr5iv21nz
Next news:Metaplanet, a prominent investment firm, has increased its Bitcoin holdings to 2,100 $BTC by purchasing an additional 68 BTC. This move reflects the firm's continued confidence in Bitcoin as a valuable asset. The acquisition was reported by FastNews via CoinDesk.
Next news:

According to TechCrunch, the stablecoin liquidity provider Mansa has completed a $10 million seed round financing, with Tether leading a $3 million equity investment. The funds raised will be used to support the company's expansion into Latin America and Southeast Asia. Mansa is headquartered in Dubai and focuses on the African market, with products that allow payment companies to settle transactions instantly and fund customer accounts.

Next news:

The U.S. SEC voluntarily withdrew its appeal on Wednesday regarding a ruling that prevented the agency from expanding the scope of existing securities laws to cover DeFi users and projects. In a four-page motion submitted to the U.S. Fifth Circuit Court of Appeals, the SEC expressed its desire to "voluntarily withdraw this appeal," a move that faced no opposition. Last November, a federal judge in Texas ruled that the SEC's expansion of the legal definition of "dealer" exceeded the agency's authority. The judge found that the modification of the SEC's dealer rules was unlawful, as it conflated DeFi traders with financial brokers. Kristin Smith, CEO of the Blockchain Association, stated in a statement that the SEC's voluntary withdrawal of the appeal is a significant victory for the digital asset industry. (Decrypt)

Next news:The cryptocurrency industry is urging Congress to eliminate a proposed rule by the IRS that would classify decentralized finance (DeFi) platforms as brokers. This rule would require these platforms to report user transactions, which the industry argues could stifle innovation and privacy. The proposal has sparked significant debate, with industry leaders advocating for a regulatory approach that supports growth and technological advancement.
Next news:According to Wu, Alexander Spiegelman, the research director at Aptos, tweeted that he does not understand why Monad is taking so long to copy Aptos's technology. "It's all open source, and there are already many peer-reviewed papers; instead of being secretive, it would be better to just copy openly." In response, Monad co-founder James Hunsaker stated, "While you were still in diapers, I was already researching Software Transactional Memory (STM) in a Haskell environment; BlockSTM is a simple extension of these concepts. I have never looked at any Aptos code; in fact, if you hadn't published this nonsense, I wouldn't have even thought of Aptos."
Next news:

According to SoSovalue statistics, as of now, twenty state-level administrative regions in the United States are initiating relevant legislative processes, with fifteen states having their bills officially accepted by the house and entering the committee review stage, forming operable legal drafts. The Bitcoin Strategic Reserve Bill is generating a regional legislative wave across the U.S. Taking Utah as an example, Bill HB0230 will allow the state's four public funds (i.e., the State Disaster Recovery Restricted Account, the General Fund Budget Reserve Account, the Income Tax Fund Budget Reserve Account, and the Medicaid Growth Reduction and Budget Stabilization Account) to invest up to 5% of their total assets in Bitcoin. According to the 2024 Utah financial report data, this represents a potential purchasing power exceeding 70 million dollars.

Next news:According to Wu, Kaito AI has announced the tokenomics of the KAITO token, with a total supply of 1 billion tokens. Of this, 32.2% is allocated for ecosystem expansion and network growth, 25% is reserved for the core team, 10% is distributed to the initial community and ecological airdrops, including Genesis NFT holders, 10% is set aside as foundation reserves, 8.3% is allocated to early supporters, 7.5% serves as long-term creator incentives, initially focused on the X platform, 5% is for liquidity incentives, and 2% is allocated to Binance Hodlers.

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.