SoSo Daily Jun 2 | Elon Musk launches XChat, supporting encrypted messaging and audio-video calls

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 05:50 on June 2, 2025, according to sosovalue, the top five gainers are:
Top 1 gainer is Sommelier (SOMM). As of 05:50 today, its market cap is 832.55K, with a coin price of 0.0024500 USD, witnessing a 24-hour increase of 58.1%.
The second is UX Chain (UMEE). As of 05:50 today, its coin price is 0.00029940 USD, with a 24-hour increase of 43.3%.
The third is Layer3 (L3). As of 05:50 today, its coin price is 0.062960 USD, showing a 24-hour increase of 36.2%.
In fourth place is Assister AI (ASRR). As of 05:50 today, its coin price is 0.38830 USD, with a 24-hour rise of 35.2%.
In fifth place is Koinos (KOIN). As of 05:50 today, its coin price is 0.022400 USD, increasing by 27.4% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 15 sectors, 7 are up and 9 are down. Today, there are no sector with a price change exceeding 2%.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Wu Shuo learned that Elon Musk tweeted that the X platform's new feature, XChat, is now live. It supports message encryption, self-destructing messages after reading, and sending files of any type, along with audio/video call capabilities. The application is built on Rust and uses a Bitcoin-like encryption architecture.
Next news:

Wu Shuo learned that Metaplanet announced an additional purchase of 1,088 bitcoins, with an average purchase price of approximately 15,519,019 yen (about 108,072 USD), and a total purchase amount of 1.689 billion yen (about 117 million USD). After this increase, Metaplanet's total bitcoin holdings reached 8,888 bitcoins, with a cumulative investment of 12.227 billion yen (about 851 million USD).

Next news:According to Cointelegraph, Ethereum co-founder Vitalik Buterin stated that Ethereum will scale its Layer 1 (L1) by approximately 10 times within a year, followed by a short pause before further upgrades.
Next news:According to Foresight News and reported by The Block, the Korean humanitarian aid organization World Vision Korea sold 0.55 $ETH (approximately USD 1,396.5) on Upbit, becoming the first institution to sell crypto assets since South Korea gradually lifted the institutional crypto trading ban. The Korea Financial Services Commission (FSC) previously stated that from June 1, eligible non-profit organizations and registered crypto trading platforms could sell the crypto assets they hold. The FSC plans to further allow listed companies and registered professional investors to conduct crypto trading in the second half of 2025.
Next news:ETHGlobal Prague has announced the list of finalists.
Next news:Wu reported that CZ posted on X stating that the current moment might be suitable for developing dark pool-type perpetual DEXs. He pointed out that the real-time visibility of orders on DEXs could lead to MEV attacks, which in turn exacerbate slippage and increase trading costs. Additionally, the exposure of liquidation information might allow others to intentionally push the market to trigger liquidations. CZ suggested that implementing dark pool mechanisms on-chain could be achieved by hiding order books or delaying the display of smart contract fund inflows, combined with zero-knowledge proofs or similar cryptographic technologies to enhance privacy protection capabilities.
Next news:Federal Reserve Governor Waller stated that stablecoins bring new forms of competition to the payment sector, helping to drive innovation and improve efficiency in payment systems.
Next news:Foresight News reports that, according to Ember monitoring, James Wynn's redemption of 126 thousand HYPE tokens has been credited after a seven-day waiting period, valued at approximately 4.22 million USD.
Next news:Odaily Planet Daily reports that Arrash Yasavolian, founder and CEO of Taoshi, an AI trading platform under the Bittensor ecosystem, stated that due to the tariff policies imposed by U.S. President Trump, traders have generally shifted to short-term strategies aimed at quick profits, reducing holding times. He pointed out that tariffs have caused violent market fluctuations driven by headline news, with sentiment frequently reversing within a single day, making market trading more challenging. Yasavolian said, "Market trading behavior has shifted to intraday operations—profits are taken immediately without betting on further rises or falls." Although the initial shock has partially subsided and the market has rebounded, risk assets remain overshadowed by macroeconomic uncertainties. Investors continue to focus on the progress of U.S.-China negotiations, with analysts believing that if a durable agreement is reached, it could drive an increase in Bitcoin and altcoins. Trump announced on May 25 that the decision to impose tariffs on EU goods was delayed until July 9, leading to a more than 3% intraday rise in Bitcoin prices. However, some analysts believe that the current negotiation progress is more of a political gesture with limited substantive significance. (cointelegraph)
Next news:According to TechFlow from ShenChao, on June 2nd, Jin10 reported that Federal Reserve Governor Waller stated that some moderately sized tariff policies will not be passed on to consumers, but tariffs may cause one-time price increases, to which the Federal Reserve can adopt a tolerant attitude. The prospect of interest rate cuts depends on the easing of inflation and whether tariff measures remain at the lower end of the range. In addition, strong economic performance continued through April, providing the Federal Reserve time to observe changes in the trade situation.

However, there remains considerable uncertainty regarding trade policy prospects. Tariff measures will increase unemployment rates, and this impact may persist. Meanwhile, there are downside risks to the economy and labor market, while inflation faces upside risks. The "good news" is that interest rate cuts are still possible later this year.

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.