SoSo Daily Apr 17 | Raydium Launches 'LaunchLab' to Compete with Pump.fun, Boosting RAY Token by 8%

Let's turn our attention to today's overall Crypto market situation.
As of 12:01 AM on April 17, 2025, according to sosovalue, the total market cap of the crypto market stands at 2.74 trillion US dollars, witnessing a decrease of 1.49% compared to yesterday; the total trading volume is 88.14 billion US dollars, marking an increase of 8.93% from the previous day.

According to sosovalue, the price of $BTC is 84,014 USD, an increase of 0.432% from yesterday. The market cap of $BTC is 1.67 trillion USD, accounting for 60.9% of the total market cap; $BTC's 24-hour trading volume is 27.23 billion USD, making up 30.9% of the total trading volume.
The price of $ETH is 1,578.5 USD, down 0.675% from yesterday; the market cap of $ETH is 190.52 billion USD, representing 6.95% of the total market cap; $ETH's 24-hour trading volume is 13.28 billion USD, comprising 15.1% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.85% of the total cryptocurrency market cap, and their combined trading volumes constitute 46% 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 COMBO. As of 16:00 today, its market cap is 1.75M, with a coin price of 0.021220 USD, witnessing a 24-hour increase of 165%.
The second is PAWS. As of 16:00 today, its coin price is 0.00025490 USD, with a 24-hour increase of 155%.
The third is AIDOGE. As of 16:00 today, its coin price is 0.00000000027800 USD, showing a 24-hour increase of 108%.
In fourth place is STRAX. As of 16:00 today, its coin price is 0.078150 USD, with a 24-hour rise of 86.4%.
In fifth place is PUMP. As of 16:00 today, its coin price is 0.16026 USD, increasing by 63.1% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Raydium, Solana's largest decentralized exchange by cumulative volume, has launched a new token launch tool called LaunchLab, designed to compete with the popular memecoin platform Pump.fun. LaunchLab allows users to launch tokens and integrates with Raydium's liquidity pools, while also enabling third-party platforms to set transaction fees. This development marks a new phase in the competition between Raydium and Pump.fun, which were previously strong partners. Pump.fun recently launched its own decentralized exchange, PumpSwap, which has seen significant trading volume since its debut. LaunchLab introduces a feature where 25% of transaction fees are used to repurchase RAY, Raydium's native token, leading to an 8% increase in RAY's price. Pump.fun also plans to introduce a native token for its AMM.
Next news:The Panama City government has announced that it will accept cryptocurrency for the payment of taxes, fees, fines, and licenses. Mayor Mayer Mizrachi Matalon stated that the city will accept Bitcoin, Ethereum, USDC, and USDT, converting the cryptocurrency into US dollars through partner banks. This initiative does not require new legislation and is similar to the approach taken by El Salvador. Other cities, such as Detroit and Colorado, are also exploring cryptocurrency payments, but the usage rate among citizens remains low.
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The DeFi protocol Neutrl announced the completion of a $5 million seed round financing, led by STIX and Accomplice, with participation from Amber Group, SCB Limited, Figment Capital, Nascent, and others. Neutrl achieves its protocol design by purchasing locked-up altcoins at a discount and using perpetual contracts to hedge risks. (CoinDesk)

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Stablecoin protocol Resolv Labs has announced the completion of a $10 million seed round financing, led by CyberFund and Maven11, with participation from Coinbase Ventures, Susquehanna, Arrington Capital, Animoca Ventures, and others. The protocol supports the issuance of a stablecoin called USR, employing a delta-neutral strategy to achieve relatively stable yield distribution, while introducing a dual-layer risk structure. (CoinDesk)

Next news:Auradine, a bitcoin miner manufacturer, has raised $153 million in a Series C funding round to expand its AI infrastructure. The round, led by StepStone Group, includes $138 million in equity and $15 million in venture debt. The funding was oversubscribed by 22%, initially targeting $125 million. Auradine plans to use the funds to grow its bitcoin miner manufacturing and its new AI division, AuraLinks AI. Founded in 2022, Auradine is the only U.S.-based firm producing American-engineered bitcoin miners, competing with Chinese manufacturers. The company aims to be EBITDA-positive soon and has an annual revenue run rate of over $150 million. Auradine's AI division focuses on networking infrastructure for AI data centers, with product announcements expected later this year. The company employs over 100 people and plans to expand its engineering team.
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The crypto investment platform Glider has announced the completion of a $4 million funding round, led by a16z, with participation from Coinbase Ventures, Uniswap Ventures, and GSR. This round of financing will be used for technology development and team expansion, as Glider aims to provide users with a non-custodial automated DeFi investment management tool. The company has also joined the a16z crypto accelerator and plans to launch its product in the coming months. (Fortune)

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According to Wu's report and monitoring by Lookonchain, an address sold all 1,160 $ETH today after holding it for approximately 11 months, transferring it to OKX at a price of $1,580, with a total value of about $1.83 million. Compared to its purchase price of $3,816 (approximately $4.43 million) 11 months ago, this results in a paper loss of $2.60 million, representing a decline of 58.6%.

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According to Foresight News, ENS chief developer nick.eth stated that he encountered an extremely complex phishing attack that exploited a vulnerability in Google's infrastructure, but Google refused to fix the vulnerability. He indicated that the phishing emails appeared very legitimate, could pass DKIM signature verification, and were displayed normally in Gmail alongside other legitimate security warnings. The attackers utilized Google's "Sites" service to create a trustworthy "support portal" page, as users would see the domain containing "google.com" and mistakenly believe it was safe. Users need to remain cautious.

According to Foresight News, ENS chief developer nick.eth stated that he encountered an extremely complex phishing attack that exploited a vulnerability in Google's infrastructure, but Google refused to fix the vulnerability. He indicated that the phishing emails appeared very legitimate, could pass DKIM signature verification, and were displayed normally in Gmail alongside other legitimate security warnings. The attackers utilized Google's "Sites" service to create a trustworthy "support portal" page, as users would see the domain containing "google.com" and mistakenly believe it was safe. Users need to remain cautious.

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.