SoSo Daily Apr 2 | Cyvers: Detected multiple suspicious transactions involving UPCX Official, with 18.40 million UPC transferred.

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on April 1, 2025, according to sosovalue, the total market cap of the crypto market stands at 2.85 trillion US dollars, witnessing an increase of 1.19% compared to yesterday; the total trading volume is 90.07 billion US dollars, marking a decline of 16.6% from the previous day.

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 Amnis Finance (AMI). As of 23:50 today, its market cap is 4.17M, with a coin price of 0.075270 USD, witnessing a 24-hour increase of 37.8%.
The second is Meson Network (MSN). As of 23:50 today, its coin price is 0.063550 USD, with a 24-hour increase of 32.4%.
The third is LUCE. As of 23:50 today, its coin price is 0.011180 USD, showing a 24-hour increase of 30.8%.
In fourth place is tomiNet (TOMI). As of 23:50 today, its coin price is 0.0032520 USD, with a 24-hour rise of 26.6%.
In fifth place is AirTor Protocol (ANYONE). As of 23:50 today, its coin price is 0.36745 USD, increasing by 26.2% 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, Cyvers Alerts has detected multiple suspicious transactions involving Upcxofficial. It appears that someone has gained access to an address starting with 0x4C, upgraded the "ProxyAdmin" contract, and executed the "withdrawByAdmin" function, resulting in the transfer of 18.40 million UPC (worth approximately 70 million USD) from three different management accounts. Currently, all funds remain in an address starting with 0xFf7, and no exchange operations have been detected. Meanwhile, the Upcxofficial team has confirmed this incident, stating that "unauthorized activity has been detected."

Next news:

According to Wu, the Binance wallet will launch the seventh exclusive TGE event PumpBTC (PUMP). The TGE price for PumpBTC is 24.79 thousand BNB / PUMP, and subscriptions will open at 00:00 Beijing time on April 2, lasting for 45 minutes.

Next news:In the first quarter of 2025, Tether purchased 8,888 Bitcoins, bringing its total holdings to 92,646 Bitcoins, valued at approximately $7.80 billion. This transaction was recorded on April 1, in line with Tether's pattern of accumulating Bitcoins each quarter and transferring them to reserve wallets at the end of the quarter. Since it began acquiring Bitcoins in September 2022, Tether announced in May 2023 that it would use 15% of its quarterly net profits for Bitcoin purchases as part of its long-term diversification strategy. Despite a nearly 12% decline in Bitcoin prices in the first quarter of 2025, Tether still gained approximately $3.86 billion in unrealized profits from its Bitcoin holdings. Tether is also expanding into new areas such as Bitcoin mining, energy production, and artificial intelligence. USDT remains the largest stablecoin globally, with a total supply of approximately $145 billion. Tether is working towards a comprehensive audit and is in discussions with one of the Big Four accounting firms for collaboration.
Next news:Today, despite an overall rise in the cryptocurrency market, a basket of altcoins suddenly plummeted on Binance. Tokens such as Solana's memecoin Act 1 The Prophecy (ACT), decentralized finance social trading platform DeXe (DEXE), and on-chain DeFi liquidity network dForce (DF) dropped by 20% to 50% within minutes. Other tokens like KAVA, HIPPO, BANANAS31, LUMIA, TST, and QUICK also saw significant declines. The crash of ACT may be related to changes on Binance's leveraged trading platform, which announced margin adjustments for ACT and five other altcoins' perpetual contracts. However, other tokens did not experience similar sharp price drops, leading observers to speculate about the reasons. Some social media users suggested that the new ACT perpetual contract margin on Binance triggered an unexpected squeeze on market maker positions. Automated trading bots of market makers might have liquidated other tokens to hedge their losses. Additionally, The OnchainData Nerd cited Arkham data indicating that the market maker Wintermute sold a large amount of ACT tokens on April 1. ACT was a key player in last year's AI memecoin craze on Solana, combining viral memecoin enthusiasm with AI-driven hype to form an ecosystem that allowed interaction between humans and robots. The token's market capitalization peaked at over 890 million, but has since plummeted by more than 85%, currently standing at around 95 million at the time of writing.
Next news:The Bitcoin Policy Institute proposes that the U.S. adopt Bitcoin-enhanced bonds, dubbed "BitBonds," as an innovative fiscal tool to support Trump's strategic Bitcoin reserve plan. This plan was co-authored by Andrew Hohns, founder of Newmarket Capital and Battery Finance, and Matthew Pines, executive director of the Bitcoin Policy Institute. It aims to reduce the interest burden on U.S. Treasury bonds while increasing the nation's Bitcoin holdings. Trump signed an executive order on March 6 to create the U.S. Strategic Bitcoin Reserve, initially holding approximately 103.50 million BTC. BitBonds will pay investors an annual interest rate of 1%, with 90% of the sales proceeds allocated to government funding and 10% used to purchase Bitcoin. The plan is expected to save up to $700 billion in interest expenditures over ten years and may significantly reduce the national debt.
Next news:American Bitcoin, supported by Bitcoin miner Hut 8 and Trump-led American Data Centers, plans to go public. The company aims to form a vertically integrated firm with two publicly traded entities: one for energy and data infrastructure, and another for crypto operations. Before going public, it may seek private investment. Hut 8 holds an 80% stake in American Data Centers, which rebranded to focus on Bitcoin mining. Eric and Donald Trump Jr. lead American Data Centers, with Eric clarifying no direct White House involvement.
Next news:Kristin Smith, CEO of the Blockchain Association, is set to join the newly established Solana Policy Institute as its president on May 19. The Blockchain Association, which includes members like Coinbase and a16zcrypto, praised Smith's contributions during her tenure. The Solana Policy Institute, led by former DeFi Education Fund CEO Miller Whitehouse-Levine, aims to educate policymakers about the broader crypto ecosystem beyond Bitcoin. The institute's launch coincides with legislative efforts on stablecoins and market structure. The Blockchain Association is searching for Smith's successor.
Next news:

Foresight News Update, Bybit Web3 has announced that it will streamline its product line to enhance user experience. Bybit Web3 will close the NFT marketplace, inscription marketplace, and IDO product pages on April 9, 2025, at 00:00. Emily Bao, the head of Bybit Web3, stated that this adjustment will allow the team to focus on core innovative businesses.

Foresight News Update, Bybit Web3 has announced that it will streamline its product line to enhance user experience. Bybit Web3 will close the NFT marketplace, inscription marketplace, and IDO product pages on April 9, 2025, at 00:00. Emily Bao, the head of Bybit Web3, stated that this adjustment will allow the team to focus on core innovative businesses.

Next news:

Odaily Planet Daily News AI infrastructure protocol Cambrian Network has announced the completion of a $5.90 million seed round financing, led by a16z Crypto Startup Accelerator (CSX) with participation from BB Fund. Cambrian aims to build smart infrastructure for AI financial agents, empowering them to make smarter market predictions and financial decisions by integrating on-chain and off-chain data. The project was founded by former members of The Graph and Semiotic Labs, and it has now launched private testing and plans to release a testnet.

Next news:BTC has breached $83,000, down 0.47% for the day. According to a PANews report on April 1, OKX market data shows that $BTC has just surpassed $83,000, with the current trading price at $83,031.90, down 0.47% for the day.

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.