SoSo Daily Jul 16 | SoSoValue (SOSO) is coming soon to Kraken

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 17:50 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Eclipse (ES). As of 17:50 today, its market cap is 48.65M USD, with a coin price of 0.32430 USD, witnessing a 24-hour increase of 224%.
The second is Ani Grok Companion (ANI). As of 17:50 today, its coin price is 0.044002 USD, with a 24-hour increase of 126%.
The third is DOSE. As of 17:50 today, its coin price is 0.00026500 USD, showing a 24-hour increase of 82.4%.
In fourth place is Moonveil (MORE). As of 17:50 today, its coin price is 0.051040 USD, with a 24-hour rise of 70%.
In fifth place is Redacted (RDAC). As of 17:50 today, its coin price is 0.0067140 USD, increasing by 44.4% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
Acccording to sosovalue, out of 16 sectors, all 16 are up and 0 are down. Notably, $ETH, Meme, and AI sectors are worth mentioning.
$ETH sector has risen 7.01% relative to the UTC 0 time, led by gains in $ETH with a 7.01% increase.
Meme sector has increased 6.03% relative to UTC 0, with ANI up 116%, CAT up 36.3%, and Bitcoin up 27.6% leading the rise.
AI sector has risen 4.32%, with DBC up 28.5%, Shoggoth up 17.5%, and VVV up 17.4% leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to official news from Kraken, the AI-powered investment research and trading platform SoSoValue's platform coin $SOSO will soon be listed on its platform, and the $SOSO spot trading pair will be opened. SoSoValue provides users with services including market information & news access, AI Agent investment decision assistant, and the issuance and trading of index fund tokens ssi. It is committed to helping crypto market investors allocate crypto assets more efficiently, accurately, and easily through artificial intelligence (AI) technology and financial innovation. [Odaily Planet Daily]

Next news:

On July 16, Trump changed his tune, saying he had no plans to fire Federal Reserve Chairman Powell, and said, "Things will change in the next eight months, and I will appoint someone who performs well. Many people want to be the chairman of the Federal Reserve, and we will consider appointing Hassett, director of the White House National Economic Council, to a relevant position at the Federal Reserve. I am only interested in 'low interest rate people' serving as chairman of the Federal Reserve." (Golden Ten)

[BlockBeats]
Next news:According to @EmberCN, as $ETH broke through $3,100, Trend Research, a secondary investment institution under Jack Yi, transferred 17,289 $ETH (approximately $52.84 million) to Binance 4 hours ago and withdrew 19.11 million USDT to repay the loan when purchasing the coins, starting to partially take profits to reduce leverage. Previously, the institution borrowed approximately $270.00 million in Aave with approximately 2x leverage to purchase $ETH, with an average cost of approximately $2,250. Currently, the 182,000 $ETH held has realized approximately $160.00 million in floating profits. [Wu Blockchain]
Next news:The U.S. House of Representatives passed a motion on July 16, local time, by a vote of 215 to 211 to advance the stablecoin regulatory bill GENIUS and the Clarity for Digital Assets Act, both of which will enter the formal voting process. GENIUS has been passed by the Senate and could be sent to President Donald Trump for signing as early as this week. The Clarity Act aims to clarify the framework for the SEC and CFTC to separately regulate crypto assets and requires further Senate review. In addition, the House of Representatives agreed to a subsequent vote on a bill to ban the Federal Reserve from issuing a CBDC to individuals. [TheBlock]
Next news:According to Fortune magazine, Talos announced the acquisition of Coin Metrics for over $100 million. [Foresight News]
Next news:

According to the official announcement on July 16, the launch time of the Binance Bonding Curve TGE event has been postponed due to technical issues. The team is urgently addressing the issue and will announce the new start time as soon as possible.

[BlockBeats]
Next news:According to The New York Times, U.S. President Trump has drafted a letter to fire Federal Reserve Chairman Powell. [Foresight News]
Next news:The PayPal USD stablecoin appears to be going live on the Ethereum Layer 2 network Arbitrum, according to an update to the payment giant's cryptocurrency terms and conditions on Wednesday.

The "PYUSD Stablecoin" section of the terms now reads, "One of the Crypto Assets that PayPal supports is PYUSD, a U.S. dollar-denominated stablecoin. PYUSD is issued by Paxos, not PayPal, on each of the Ethereum, Solana, and Arbitrum cryptocurrency networks."

The page was last updated on July 16, and Arbitrum was missing from the same section in the previous archived version of the page, dated July 11,according to theInternet Archive's Wayback Machine. The "Transaction Limits" section now also includes a reference to PYUSD on Arbitrum, which was not previously included.

PayPal has yet to announce the news publicly. The Block reached out to the company for comment.

PayPal USD first launched in August 2023 on Ethereum in conjunction with issuer Paxos, fully backed by U.S. dollar deposits, short-term Treasuries, and similar cash equivalents.

"The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar," PayPal CEO Dan Schulman said at the time. "Our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD."

The stablecoin later expanded to Solana in May 2024, designed to further PayPal's goal of enabling a digital currency with a stable value designed for commerce and payments, the firm said.

Paxos itself expanded to Arbitrum in September 2024 with plans to bring its tokenization platform to the network. [The Block]
Next news:US authorities confiscated massive drug quantities and dismantled meth labs nationwide while pursuing crypto-linked cartel operatives.
Next news:According to Zhitong Finance, Bank of America CEO Brian Moynihan stated that Bank of America has done a lot of work on stablecoins and expects Bank of America and the entire industry to make progress in this area. [Foresight News]

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.