SoSo Daily Mar 6 | In February, the ADP employment figure in the United States increased by 77 thousand, marking the smallest increase since July 2024.
Crypto Market Overview
Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on March 5, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.08 trillion US dollars, witnessing an increase of 1.72% compared to yesterday; the total trading volume is 135.16 billion US dollars, marking a decline of 31.9% from the previous day.
According to sosovalue, the price of $BTC is 90,608 USD, an increase of 3.81% from yesterday. The market cap of $BTC is 1.80 trillion USD, accounting for 58.4% of the total market cap; $BTC's 24-hour trading volume is 51.74 billion USD, making up 38.3% of the total trading volume.
The price of $ETH is 2,241.4 USD, up 3.22% from yesterday; the market cap of $ETH is 270.30 billion USD, representing 8.79% of the total market cap; $ETH's 24-hour trading volume is 22.28 billion USD, comprising 16.5% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.19% of the total cryptocurrency market cap, and their combined trading volumes constitute 54.8% 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 Buying.com. As of 23:50 today, its market cap is 2.97M, with a coin price of 0.0045200 USD, witnessing a 24-hour increase of 63.8%.
The second is Zoo. As of 23:50 today, its coin price is 0.000011940 USD, with a 24-hour increase of 45.3%.
The third is Ferrum Network. As of 23:50 today, its coin price is 0.0011300 USD, showing a 24-hour increase of 44.9%.
In fourth place is Counterfire Economic Coin. As of 23:50 today, its coin price is 0.015994 USD, with a 24-hour rise of 40.4%.
In fifth place is Prisma Governance Token. As of 23:50 today, its coin price is 0.029590 USD, increasing by 37.6% over the last 24 hours.
Crypto Market Sector Performance
According to sosovalue, out of 16 sectors, 15 are up and 1 is down. Notably, the DeFi, Layer2, and DePIN sectors are worth mentioning.
DeFi Sector
The DeFi sector has risen by 5.2% relative to the UTC 0 time, led by gains in frm (46.8%), bond (31.7%), and REZ (25.7%).
Layer2 Sector
The Layer2 sector has increased by 4.17% relative to UTC 0, with gel (18.1%), Move (11.2%), and arb (9.4%) leading the rise.
DePIN Sector
The DePIN sector has risen by 4.17%, with blz (30.3%), MOBILE (15.5%), and aleph (14.4%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:
According to Wu, the ADP employment numbers in the U.S. for February showed an increase of 77 thousand, the smallest rise since July 2024, with expectations set at 140 thousand and a previous value of 183 thousand.
Next news:Wu learned that Fox Business reporter Eleanor Terrett tweeted that the U.S. Senate passed the Congressional Review Act (CRA) proposed by Senator Ted Cruz with an overwhelming majority of 70-27, which rescinds the IRS regulatory rules for DeFi brokers. This resolution has now been submitted to the House of Representatives for review.
Next news:Jump Trading is reorganizing its cryptocurrency operations in the United States following regulatory changes under the Trump administration. The company aims to adapt to the evolving regulatory landscape to enhance its crypto trading activities.
Next news:The United States plans to differentiate Bitcoin from other cryptocurrencies and will announce more details at the White House's first crypto summit. Secretary of Commerce Howard Lutnick stated that the President is interested in Bitcoin as a strategic reserve and will announce a framework for handling other cryptocurrencies at the summit. Trump's crypto czar David Sacks and the executive director of the President's crypto working group, Bo Hines, will host the summit, with several leaders from the crypto industry expected to attend. Despite the announcement of the crypto strategic reserve plan, Bitcoin and Ethereum prices have dropped due to the new tariff policies. Questions remain regarding the sources of reserve funding and the feasibility of implementation.
Next news:
According to Wu, TASS reported that Alexey Yakovlev, head of the Financial Policy Department of the Ministry of Finance of the Russian Federation, told reporters that the Ministry of Finance and the Central Bank of Russia are discussing conducting organized digital currency transactions within the framework of an experimental legal regime (EPR) in Russia. Participants classified as "super qualified" investors (standards are currently being developed) will be able to participate in the transactions.
Next news:
Wu said that Robinhood US will launch Arbitrum (ARB).
Next news:The National Cryptocurrency Association (NCA) was established with a $50 million funding from Ripple, aimed at helping Americans better understand the cryptocurrency industry through its consumer education platform. Despite being founded by Ripple, the NCA stated that it operates independently of any company and focuses on supporting cryptocurrency awareness and education. The NCA plans to assist users in understanding the risks and opportunities of cryptocurrencies through resources such as video tutorials, written explanations, and guides. Additionally, the NCA will release a research report on cryptocurrency holders in the United States, revealing the positive impact of cryptocurrencies on users' lives.
Next news:
According to Wu, Coinbase has announced that it will support Renzo (REZ) on the Ethereum (ERC-20) network. Users must ensure that transfers are made on the correct network; otherwise, funds may be lost. REZ trading will begin on March 6, 2025, at 9 AM Pacific Time or thereafter, provided liquidity requirements are met. Renzo is a liquid staking solution built on the EigenLayer network.
Next news:
Coinbase is re-advancing its plan to introduce securitized tokens into the U.S. market, after a previous attempt in 2020 was hindered by regulatory issues. CFO Alesia Haas stated at the Morgan Stanley TMT conference that the company had sought to list through security tokens but did not receive approval from the SEC. With the Trump administration's shift to a more favorable stance on cryptocurrencies, the SEC has withdrawn several lawsuits, including those against Coinbase. Coinbase plans to restart discussions with the SEC's cryptocurrency working group and is considering introducing existing products from international markets to enhance trading efficiency and the on-chain asset process. (The Block)
Next news:According to Wu, the Federal Reserve has released its Beige Book on economic conditions, indicating that the U.S. economy has seen slight growth since mid-January. Overall consumer spending has decreased, and manufacturing activity has seen slight growth in most regions, but businesses are concerned about changes in trade policy. Employment has increased slightly, but there have been job reductions in the manufacturing and IT sectors, and wage growth has slowed compared to previous periods. Prices have generally risen, with some areas experiencing accelerated increases, while businesses find it difficult to pass on cost pressures to consumers, partly due to preemptive price hikes in anticipation of rising tariffs. Regions maintain a cautiously optimistic outlook for the future economy, but concerns about policy uncertainty and the impact of tariffs persist.
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.