SoSo Daily Jun 4 | Market News: Meme Coin Trump Collaborates with Magic Eden to Launch Trump Crypto Wallet
Crypto Market Update
Let's turn our attention to today's overall Crypto market situation.
As of 2 PM Hong Kong time on June 4, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.43 trillion US dollars, witnessing a decrease of 1.97% compared to yesterday; the total trading volume is 99.44 billion US dollars, marking an increase of 7.83% from the previous day.
Cryptocurrency Market Update - June 4, 2025
According to sosovalue, the price of $BTC is 105,360 USD, a decrease of 0.475% from yesterday. The market cap of $BTC is 2.09 trillion USD, accounting for 61% of the total market cap; $BTC's 24-hour trading volume is 27.23 billion USD, making up 27.4% of the total trading volume.
The price of $ETH is 2,593 USD, down 0.553% from yesterday; the market cap of $ETH is 313.04 billion USD, representing 9.12% of the total market cap; $ETH's 24-hour trading volume is 17.12 billion USD, comprising 17.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 70.12% of the total cryptocurrency market cap, and their combined trading volumes constitute 44.6% of the total trading volume.
As of 00:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is SUIA. As of 00:00 today, its coin price is 0.0064100 USD, witnessing a 24-hour increase of 61.1%.
The second is FLOCK. As of 00:00 today, its market cap is 31.73M USD, with a coin price of 0.28800 USD, showing a 24-hour increase of 45.6%.
The third is DFI.money (YFII). As of 00:00 today, its coin price is 139.25 USD, with a 24-hour increase of 41.2%.
In fourth place is bAI Fund (BAI). As of 00:00 today, its coin price is 0.0018800 USD, increasing by 36.4% over the last 24 hours.
In fifth place is AxonDAO Governance Token (AXGT). As of 00:00 today, its market cap is 46.92M USD, with a coin price of 0.10630 USD, showing a 24-hour rise of 29.8%.
Crypto Market Sector Performance Update
Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 15 sectors, 6 are up and 10 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:According to ChainCatcher, based on relevant website information, the Meme coin Trump has partnered with Magic Eden to launch the Trump crypto wallet. Users can join the waitlist to get early access to the official TRUMP wallet.
Next news:Background: At the end of last year, South Korea attempted to impose martial law, triggering the most severe constitutional crisis in decades.
Main Event: South Korean citizens voted on Tuesday to elect a new president. Democratic Party candidate Lee Jae-myung leads in the latest polls over the conservative ruling People Power Party candidate Kim Moon-soo. The third candidate, Lee Jun-seok, former leader of the People Power Party and currently representing the Reform Party, has split the conservative vote.
Potential Impact: This election is regarded as a crucial opportunity for South Korea to heal national divisions and promote economic growth.
Next news:ChainCatcher reported that Nasdaq-listed crypto mining company CleanSpark announced a mining output of 694 bitcoins in May, with a total bitcoin holding reaching 12,502 as of May 31.
Next news:
According to ChainCatcher, The Block reported that Avantis, a decentralized leveraged trading platform based on Base, has completed a $8 million Series A funding round, co-led by Peter Thiel's Founders Fund and Pantera Capital, with participation from Symbolic Capital, SALT Fund, and Flowdesk.
It is reported that this round of financing was completed in mid-2024, but Avantis chose to announce it now to coincide with the development of the protocol. The Series A financing of Avantis was structured as equity financing and token warrants, with a total financing amount reaching $12 million, including a $4 million seed round completed in September 2023.
Next news:According to ChainCatcher, monitored by Onchain Lens, a newly created wallet withdrew 4,000 $ETH from Kraken, valued at 10.57 million USD, and transferred it to Lido for staking.
Next news:ChainCatcher reports that BitMEX co-founder Arthur Hayes stated on social media that debt relief is always a winning strategy during election cycles. Anyone worried that the U.S. might cut spending can relax and buy more Bitcoin ($BTC).
Next news:
According to ChainCatcher, official sources have announced that as part of Devconnect ARG 2025, the Ethereum Foundation is launching the Devconnect Scholars Program, aimed at expanding Ethereum's influence by connecting Ethereum with new communities, industries, and ideas.
Scholars will learn and create together, building bridges between Ethereum and other worlds. The 2025 scholars will include five categories: Ethereum community organizers; legal and public sector professionals; journalists; artists; developers and other types of builders.
Next news:ChainCatcher news: Wang Yongli, former Vice President of the Bank of China, published an article titled "The Accelerated Development of US Dollar Stablecoins Brings Profound Warnings," pointing out that the United States, through legislation supporting crypto asset mining and trading, promotes the legal operation of US dollar stablecoins, seizes the strategic high ground in the fields of crypto assets and stablecoins, and enhances the international influence of the US dollar. This has significant strategic importance, and China needs to respond actively. Hong Kong is actively promoting the development of Web3.0, crypto assets, and Hong Kong dollar stablecoins, with regulatory frameworks leading the world, and mainland companies are actively participating. It is recommended that the mainland pay close attention and conduct research, considering launching offshore RMB stablecoins in Hong Kong to be the first used for overseas crypto asset transaction payment and settlement, thereby promoting the development and exploration of RMB stablecoins and the digital RMB.
Next news:According to statistics from RootData, there were 62 publicly announced crypto venture capital (VC) deals in May 2025, marking a month-over-month decrease of 6.1% (compared to 66 in April 2025) and a year-over-year drop of 61.3% (compared to 160 in May 2024).
Next news:
ChainCatcher reports that, according to official sources, the U.S. Securities and Exchange Commission (SEC) Crypto Special Task Force held talks with representatives from CoinShares International Limited and its legal counsel Chapman & Cutler LLP to discuss regulatory challenges in launching crypto asset exchange-traded products (ETPs) in the United States.
During the meeting, topics discussed included how to integrate staking mechanisms within the ETP structure, appropriate standards for reviewing rule change applications for new digital asset ETPs, issues related to crypto asset custody, comparisons between physical and cash redemption mechanisms, and the feasibility of registered investment companies investing in digital asset ETPs.
CoinShares also introduced its crypto asset ETP business in Europe, where the company manages over 6 billion USD in assets and offers 20 publicly listed ETP products covering 13 digital assets and 3 digital asset indices.
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.