SoSo Daily Jun 1 | SEC Questions the Legitimacy of REX's Ethereum and Solana Staking ETFs Submission
Crypto Market Update
Let's turn our attention to today's overall Crypto market situation.
As of 11:58 AM Hong Kong time on June 1, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.37 trillion US dollars, witnessing a decrease of 1.45% compared to yesterday; the total trading volume is 82.96 billion US dollars, marking a decline of 33.6% from the previous day.
Cryptocurrency Market Update - June 1, 2025
According to sosovalue, the price of $BTC is 104,070 USD, an increase of 0.555% from yesterday. The market cap of $BTC is 2.07 trillion USD, accounting for 61.3% of the total market cap; $BTC's 24-hour trading volume is 16.59 billion USD, making up 20% of the total trading volume.
The price of $ETH is 2,496.8 USD, down 0.906% from yesterday; the market cap of $ETH is 301.42 billion USD, representing 8.94% of the total market cap; $ETH's 24-hour trading volume is 10.21 billion USD, comprising 12.3% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 70.24% of the total cryptocurrency market cap, and their combined trading volumes constitute 32.3% of the total trading volume.
As of 11:50 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Ruby Protocol (RUBY). As of 11:50 today, its market cap is 5.85K, with a coin price of 0.000069900 USD, witnessing a 24-hour increase of 70.2%.
The second is Rebel Bots (RBLS). As of 11:50 today, its coin price is 0.00049160 USD, with a 24-hour increase of 65.4%.
The third is SUIA. As of 11:50 today, its coin price is 0.0059000 USD, showing a 24-hour increase of 40.5%.
In fourth place is New XAI gork (GORK). As of 11:50 today, its coin price is 0.012850 USD, with a 24-hour rise of 37.4%.
In fifth place is DSLA Protocol (DSLA). As of 11:50 today, its coin price is 0.00016260 USD, increasing by 34.9% over the last 24 hours.
Acccording to sosovalue, out of 16 sectors, 14 are up and 2 are down. Notably, NFT, AI, and SocialFi sectors are worth mentioning.
NFT sector has risen 2.67% relative to the UTC 0 time, led by gains in ANIME (10.5%), orb (9.24%), and DOOD (8.23%).
AI sector has increased 2.28% relative to UTC 0, with GORK (34.8%), ASRR (34.8%), and dsla (27.9%) leading the rise.
SocialFi sector has risen 2.05%, with UXLINK (11.8%), b3tr (5.99%), and SUIA (4.24%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has expressed concerns about the Ethereum and Solana staking ETFs launched by REX Shares and Osprey Funds, believing that they may not comply with the definitions of investment companies and ETFs under the Federal Securities Act. The SEC pointed out that these products may have issues with improper registration statements and misleading disclosures and has issued a formal letter to ETF Opportunities Trust. REX has stated that it will not launch the product until the related legal issues are resolved.
Next news:FLOCK has surged over 80% in the past 24 hours, currently trading at 0.21 USDT.
Next news:Wu Shuo learned that, according to PeckShield monitoring, there were approximately 20 crypto attacks in May 2025, resulting in losses of 244 million USD, a 39% decrease compared to April. Cetus Protocol was hacked for 220 million USD, making it the largest case of the month. Currently, 157 million USD has been jointly frozen with SUI, achieving a recovery rate of 71%. The top five incidents also include: Cork Protocol (12 million USD), suspected North Korean attack (5.20 million USD), Token MBU (2.20 million USD), and MaplestoryU (1.20 million USD).
Next news:Wu said he learned that on-chain investigator ZachXBT posted that SIM card swapping/social engineering fraud requires stricter penalties. Laws in Canada and the EU are very lenient, allowing threat actors to escape many punishments. Many of them are minors, which helps them avoid more penalties and protects their personal details (which is why I publish their full names regardless of age). In 2020, 17-year-old Canadian Cameron Redman helped carry out SIM card swapping attacks that netted 37 million USD. His full name and photo were never mentioned online until I published them after his involvement in phishing/X ATO.
Next news:Wu Shuo learned from Lookonchain monitoring that the donation wallet of Ross Ulbricht, the founder of the Silk Road darknet trading platform, received a transfer of 300 bitcoins (approximately 31.40 million USD) 8 hours ago.
Next news:According to official sources, MegaETH has confirmed that its X account was hacked and has warned users not to click on suspicious links. Previously, the account had posted suspicious CA and phishing links.
Next news:Bitcoin maximalist Max Keiser has expressed doubts about the ability of emerging companies that imitate MicroStrategy co-founder Michael Saylor’s model by establishing corporate-level Bitcoin reserves. He believes that these companies will find it difficult to maintain financial discipline during prolonged bear markets. Keiser pointed out that Michael Saylor continued accumulating Bitcoin and never sold during previous bear markets, whereas many of these "strategy clone companies" have not yet experienced similar market conditions and may not demonstrate the same steadfast holding attitude if faced with a downturn. (Cointelegraph)
Next news:
Former "Silk Road" founder Ross Ulbricht auctioned his personal items from prison and before his arrest through the Bitcoin auction platform Scarce City, raising over 1.80 million USD in $BTC pledged bids. The most notable item was his prison ID card, which sold for 11 $BTC (approximately 1.10 million USD). The auction also included his personally painted artwork "Archway" (sold for 1.01 $BTC), as well as a backpack, notebooks, and other items. The winning bidders are required to complete payment by June 2. This auction is Ulbricht's first public disposal of personal items following his pardon by former President Trump. (TheBlock) https://www.theblock.co/post/356458/auction-for-ross-ulbrichts-prison-mementos-artwork-raises-1-8-million-in-btc
Next news:Loud! announces that the LOUD token will soon be launched and open for claiming. Meanwhile, the second phase of the refund process will require some time.
Next news:
Wu Shuo has learned that the U.S. Trade Representative's Office announced an extension of the exemption period in the Section 301 investigation concerning China's actions, policies, and practices related to technology transfer, intellectual property, and innovation. These exemptions, originally set to expire on May 31, 2025, have now been extended to August 31, 2025.
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.