SoSo Daily May 6 | Binance Launchpool will list Space and Time (SXT)

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 Particle Network. As of 00:00 today, its market cap is 71.76M, with a coin price of 0.30800 USD, witnessing a 24-hour increase of 32.9%.
The second is Function X. As of 00:00 today, its coin price is 0.25680 USD, with a 24-hour increase of 32.1%.
The third is ICON. As of 00:00 today, its coin price is 0.12300 USD, showing a 24-hour increase of 29.1%.
In fourth place is sekoia by Virtuals. As of 00:00 today, its coin price is 0.011125 USD, with a 24-hour rise of 28.4%.
In fifth place is Polkadex. As of 00:00 today, its coin price is 0.25290 USD, increasing by 27.2% 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, 10 are up and 6 are down. Notably, AI sector is worth mentioning.
AI sector has risen 2.71% relative to the UTC 0 time, led by gains in SEKOIA (27.7%), SHELL (20.5%), and akt (19%).

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Wushuo has learned that Binance announced the 69th Launchpool project as Space and Time (SXT), a Microsoft-backed blockchain project focused on zero-knowledge proof data. Users can stake BNB, FDUSD, and USDC starting from 00:00 (UTC) on May 6 to participate in a two-day SXT airdrop. SXT will be listed on Binance's spot market at 13:00 (UTC) on May 8, with trading pairs including SXT/USDT, SXT/USDC, SXT/BNB, SXT/FDUSD, and SXT/TRY.
Next news:Background Information: Concerns about potential conflicts of interest have arisen due to the connections between President Trump and his family with cryptocurrencies. Recently, Trump announced two cryptocurrency-related dinners to be held in Washington, including a dinner for the main supporters of the official TRUMP memecoin and a 'Crypto and AI Innovators Dinner' organized by MAGA Inc.

Key Events:
- Senator Elizabeth Warren and others criticized the Trump family's cryptocurrency transactions, pointing out possible risks of bribery and corruption.
- Trump responded that he does not profit from these activities, emphasized the importance of cryptocurrencies, and criticized other politicians' stock trading behaviors.
- Trading activity of the TRUMP memecoin has increased significantly, with dinner fundraising prices reaching as high as $1.50 million per seat.
- The crypto industry holds mixed views on the event; legal experts have pointed out ethical and integrity issues but do not consider it illegal.

Potential Impact: This event has sparked ethical and regulatory discussions regarding the relationship between politicians and cryptocurrencies, highlighting the complexity of cryptocurrency in political fundraising.
Next news:Background: Michael Saylor's company, Strategy (formerly MicroStrategy), disclosed through regulatory filings submitted to the U.S. Securities and Exchange Commission that it purchased an additional 1,895 bitcoins between April 28 and May 4, 2024, spending approximately 180 million USD, with an average price of 95,167 USD per bitcoin.

Main Event: The funds for this purchase came from capital raised through the company's ongoing stock sale program. During the week, the company sold 353,825 shares of common stock (MSTR) and 575,392 shares of preferred stock (STRK), raising a total of 180.30 million USD. The previous "21/21 Plan" common stock sale quota was exhausted and terminated, and the company launched the new "42/42 Plan," aiming to raise 42 billion USD by 2027 for future bitcoin purchases.

Holdings and Financial Performance: Currently, Strategy holds 555,450 bitcoins at a total cost of approximately 38.08 billion USD, valued at about 52.20 billion USD at current prices, with an unrealized gain of around 14.20 billion USD. Despite a net loss of 4.20 billion USD reported in the first quarter, mainly due to unrealized losses on bitcoin holdings, analysts remain optimistic due to the company's scale advantages and innovative financing tools.

Industry Dynamics: Strategy remains the largest corporate bitcoin holder, but other companies such as Cantor Fitzgerald and SoftBank have also begun joining the bitcoin investment arena, driving industry development.

Special Note: The content mentions SoSoValue.
Next news:The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the listing of the Litecoin spot Exchange-Traded Fund (ETF) proposed by Canary Funds and has solicited public comments. The SEC is particularly concerned about whether the proposal can prevent fraud and manipulation or if there are new issues that have not been previously considered. The SEC is currently reviewing multiple cryptocurrency ETF proposals and has recently delayed decisions on ETFs related to XRP, Hedera, and Dogecoin. The newly appointed SEC Chairman Paul Atkins holds a positive attitude towards digital assets and plans to collaborate with lawmakers to develop a regulatory framework for cryptocurrencies. Analyst James Seyffart believes that the Litecoin ETF is most likely to receive early approval but expects delays. Grayscale, CoinShares, and Canary are all competing for the market share of the Litecoin ETF.
Next news:Wu Shuo learned that Eric Semler, Chairman of Semler Scientific, a US-listed company, announced that the company spent 16.20 million USD to acquire an additional 167 $BTC, currently holding a total of 3,634 bitcoins. The Bitcoin investment return rate has reached 22.2% year-to-date in 2025.
Next news:Background: Bitcoin price fell below $95,000 on May 5th under the influence of macroeconomic uncertainties and expectations surrounding the Federal Reserve meeting. Analysts pointed out that the price may decline further, with key support levels at $92,500 and $89,000 respectively.

Main Events: Despite the price drop, Bitcoin ETF net inflows still reached $1.81 billion, indicating strong investor interest. Alex Kuptsikevich from FxPro noted that the market has returned to the key resistance zone from December to February, which previously acted as a support level. The next downward targets are $92,500 and $89,000. Breaking below $90,000 would have technical and psychological impacts and break below the 200-day moving average.

Potential Impact: Further price declines may negatively affect market sentiment and technical indicators, but ETF inflows suggest that investors remain optimistic about Bitcoin's long-term value.
Next news:

Ethena Labs announced the integration of its stablecoin USDe with Hyperliquid Exchange and HyperEVM, enabling users to earn daily rewards through their USDe balances. This integration utilizes LayerZero and Stargate to bridge USDe to HyperEVM, enhancing cross-chain functionality within the Hyperliquid infrastructure. Additionally, collaborations with protocols such as HyperUnit, Euler Finance, and Curve Finance allow USDe to be used for lending and liquidity pools, thereby expanding its utility on HyperEVM.

Next news:According to DLNEWS, Israeli police arrested a hacker last week suspected of participating in the theft of cryptocurrency from Nomad. The suspect, Alexander Gurevich, holds dual Russian and Israeli citizenship and was attempting to travel to Russia using identification documents under different names at the time of his arrest. Nomad suffered a loss of 190 million USD in this attack.
Next news:

According to TechFlow, on May 5, Ripple officially announced that it will invest 25 million USD to support education projects in the United States. The project will start from Teacher Appreciation Week and will support key educational resources and financial literacy programs through collaboration with DonorsChoose and Teach For America. This funding support will be implemented through the $RLUSD token.

Next news:The cryptocurrency industry has developed rapidly this year, but the legislative process has encountered obstacles. Nine Democratic senators oppose the current version of the GENIUS Act, demanding strengthened provisions on anti-money laundering and national security. The bill was previously passed by the Senate Banking Committee, but the latest version has sparked controversy. Industry experts hold differing views; some support strict regulation of stablecoin issuers under the bill, while others question the enforcement strength and political factors involved. The Crypto Industry Association has called for the bill to be submitted to the Senate for debate as soon as possible. The governor of Arizona vetoed a bill allowing public funds to invest in virtual currencies, emphasizing the need for caution in retirement fund investments. Overall, regulatory gaps still expose consumers to risks. Although the legislative process has faced setbacks, progress is still expected in the future.

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.