SoSo Daily Nov 21 | Bitcoin surpasses $95,000, setting a new all-time high

SoSo NewsletterNov 21, 2024


Crypto Market Overview


Let's turn our attention to today's overall Crypto market situation.


As of 5:58 AM on November 21, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.33 trillion US dollars, witnessing an increase of 2.29% compared to yesterday; the total trading volume is 251.15 billion US dollars, marking a rise of 8.93% from the previous day.




According to sosovalue, the price of $BTC is 97,206 USD, an increase of 5.16% from yesterday. The market cap of $BTC is 1.92 trillion USD, accounting for 57.8% of the total market cap; $BTC's 24-hour trading volume is 78.84 billion USD, making up 31.4% of the total trading volume.
The price of $ETH is 3,108.6 USD, up 0.0686% from yesterday; the market cap of $ETH is 374.35 billion USD, representing 11.2% of the total market cap; $ETH's 24-hour trading volume is 34.41 billion USD, comprising 13.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 69.0% of the total cryptocurrency market cap, and their combined trading volumes constitute 45.1% of the total trading volume.

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 Plian. As of 05:50 today, its market cap is 1.29M, with a coin price of 0.0012660 USD, witnessing a 24-hour increase of 69.9%.
The second is BEER. As of 05:50 today, its coin price is 0.000046500 USD, with a 24-hour increase of 66.1%.
The third is Open Loot. As of 05:50 today, its coin price is 0.13038 USD, showing a 24-hour increase of 48.8%.
In fourth place is BarnBridge. As of 05:50 today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is TROY. As of 05:50 today, its coin price is 0.0054640 USD, increasing by 43.3% 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, 4 are up and 12 are down. Notably, $BTC, PayFi, and RWA sectors are worth mentioning.
$BTC sector has risen 5.17% relative to the UTC 0 time, led by gains in $btc with a 24h change of 5.17%.
PayFi sector has increased 3.87% relative to UTC 0, with clv rising by 18.3%, bch by 17.7%, and btg by 17%.
RWA sector has fallen 3.78%, with om and PRCL both declining by 11.2%, and lto by 9.33%.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin has first surpassed $95,000, setting a new historical high. It has risen 40% in the past month and over 105% in 2024. The approval of Bitcoin ETF options has fueled this growth, marking Bitcoin's status as a mainstream institutional investment. The trading of options for BlackRock's iShares Bitcoin Trust and other ETFs is active, with nearly $1.90 billion in trading volume on the first day. Market momentum began on November 5 when Trump won the presidential election, and it is expected that Bitcoin will exceed $100,000 within two months.
Next news:

According to reports, NVIDIA announced its third-quarter earnings report for the fiscal year 2025, with an adjusted earnings per share (EPS) of $0.81, exceeding market expectations of $0.74; revenue stood at $35.10 billion, surpassing the market expectation of $33.25 billion. Among these, the data center business generated $30.80 billion in revenue, higher than the market expectation of $29.14 billion. NVIDIA expects fourth-quarter revenue to be $37.50 billion, with a fluctuation of 2% up or down.


Next news:Digital Currency Group (DCG) has launched a new subsidiary named Yuma, focusing on artificial intelligence to support the development of the open-source Bittensor network. This move marks the integration of cryptocurrency and artificial intelligence, aiming to reduce the "top-down" development of machine learning through decentralized infrastructure. Yuma will provide funding and technical resources for both startups and established companies to build projects on Bittensor. Bittensor is a decentralized open-source network where users can run various AI models by contributing computational power and receive incentives through the TAO token. DCG founder Barry Silbert stated that Yuma will provide all the resources necessary for businesses to deploy innovative ideas. DCG has been investing in Bittensor since 2021 and has invested in several decentralized AI projects. Silbert will serve as the CEO of Yuma.
Next news:The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Franklin Crypto Index ETF, proposed by Franklin Templeton, which aims to combine Ethereum and Bitcoin. The SEC decided to extend the review period to allow for more thorough consideration of the relevant rule changes and issues. If approved, the ETF will be listed on the Cboe BZX exchange and will use Coinbase Custody Trust Company LLC as the digital asset custodian. The SEC's decision comes after the launch of options for spot Bitcoin ETFs.
Next news:The Trump team is considering establishing a new position in the White House focused on cryptocurrency policy, marking the first such attempt by the administration. Trump expressed support for cryptocurrencies during his campaign and proposed firing SEC Chairman Gary Gensler, promising to commute the life sentence of Silk Road founder Ross Ulbricht, forming a Presidential Advisory Committee on Cryptocurrency, and creating a national strategic Bitcoin reserve. After the election, Trump nominated several pro-crypto executives for key positions, including appointing Cantor Fitzgerald CEO Howard Lutnick to lead the U.S. Department of Commerce, and Bitcoin supporter Robert F. Kennedy as the Secretary of the U.S. Department of Health and Human Services. Recent interactions between cryptocurrency industry executives and the Trump team have also taken place. Ripple CEO Brad Garlinghouse stated that he has discussed personnel appointments with Trump's close associates, and executives from Circle have engaged in conversations with Trump’s transition team. Coinbase CEO Brian Armstrong spoke with Trump about cryptocurrency and who would lead the SEC and the Commodity Futures Trading Commission.
Next news:

According to Cointelegraph, the Japanese government has announced plans to advance a new economic stimulus program, expected to be approved by the end of 2024. The proposed tax reform measures include changes to income tax, corporate tax, and cryptocurrency tax. Currently, Japan's policies regarding cryptocurrency taxation rely on a vague and variable "miscellaneous tax," which can impose taxes of up to 55% on transactions. Opposition parties are calling for a uniform tax rate of 20% on digital assets.


Next news:

According to Wu, OKX market data shows that $BTC has just broken through $95,000, currently quoted at $95,272 per coin, with a daily increase of 0.56%.

According to Wu, OKX market data shows that $BTC has just broken through $95,000, setting a new historical high, currently quoted at $95,272 per coin, with a daily increase of 0.56%.

Next news:

According to Wu, Bitwise has submitted documents in Delaware, USA, to register the BITWISE SOLANA ETF entity, which means that Bitwise will also join the ranks of those applying for a Solana spot ETF. Previously, several companies had applied to register Solana spot ETFs, and the public is anticipating that Trump and the new SEC chairman might approve the Solana ETF after taking office.


Next news:Bitcoin breaks above 94,000 USDT, setting a new all-time high.
Next news:Phantom, a cryptocurrency wallet platform, achieved a record-high rank in the iOS app store, placing ninth among top free iPhone apps. This marks the first time Phantom has entered the top 10, surpassing WhatsApp and Instagram, which ranked 13th and 14th, respectively. Additionally, Phantom ranked second among free utility apps, just behind Google's search engine app. The app's rapid rise in rankings is notable, as it was ranked 377th just over a week ago. Phantom, initially based on Solana, now supports Ethereum, Bitcoin, Base, and Polygon. The company raised $109 million in Series B funding, reaching a $1.2 billion valuation on January 31, 2022, coinciding with its iOS app launch.

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.

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SoSo Daily Nov 21 | Bitcoin surpasses $95,000, setting a new all-time high

SoSo NewsletterNov 21, 2024


Crypto Market Overview


Let's turn our attention to today's overall Crypto market situation.


As of 5:58 AM on November 21, 2024, according to sosovalue, the total market cap of the crypto market stands at 3.33 trillion US dollars, witnessing an increase of 2.29% compared to yesterday; the total trading volume is 251.15 billion US dollars, marking a rise of 8.93% from the previous day.




According to sosovalue, the price of BTC is 97,206 USD, an increase of 5.16% from yesterday. The market cap of BTC is 1.92 trillion USD, accounting for 57.8% of the total market cap; BTC's 24-hour trading volume is 78.84 billion USD, making up 31.4% of the total trading volume.
The price of ETH is 3,108.6 USD, up 0.0686% from yesterday; the market cap of ETH is 374.35 billion USD, representing 11.2% of the total market cap; ETH's 24-hour trading volume is 34.41 billion USD, comprising 13.7% of the total trading volume.
The combined market capitalization of BTC and ETH accounts for 69.0% of the total cryptocurrency market cap, and their combined trading volumes constitute 45.1% of the total trading volume.

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 Plian. As of 05:50 today, its market cap is 1.29M, with a coin price of 0.0012660 USD, witnessing a 24-hour increase of 69.9%.
The second is BEER. As of 05:50 today, its coin price is 0.000046500 USD, with a 24-hour increase of 66.1%.
The third is Open Loot. As of 05:50 today, its coin price is 0.13038 USD, showing a 24-hour increase of 48.8%.
In fourth place is BarnBridge. As of 05:50 today, its coin price is 2.1520 USD, with a 24-hour rise of 44.4%.
In fifth place is TROY. As of 05:50 today, its coin price is 0.0054640 USD, increasing by 43.3% 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, 4 are up and 12 are down. Notably, BTC, PayFi, and RWA sectors are worth mentioning.
BTC sector has risen 5.17% relative to the UTC 0 time, led by gains in btc with a 24h change of 5.17%.
PayFi sector has increased 3.87% relative to UTC 0, with clv rising by 18.3%, bch by 17.7%, and btg by 17%.
RWA sector has fallen 3.78%, with om and PRCL both declining by 11.2%, and lto by 9.33%.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Bitcoin has first surpassed $95,000, setting a new historical high. It has risen 40% in the past month and over 105% in 2024. The approval of Bitcoin ETF options has fueled this growth, marking Bitcoin's status as a mainstream institutional investment. The trading of options for BlackRock's iShares Bitcoin Trust and other ETFs is active, with nearly $1.90 billion in trading volume on the first day. Market momentum began on November 5 when Trump won the presidential election, and it is expected that Bitcoin will exceed $100,000 within two months.
Next news:

According to reports, NVIDIA announced its third-quarter earnings report for the fiscal year 2025, with an adjusted earnings per share (EPS) of $0.81, exceeding market expectations of $0.74; revenue stood at $35.10 billion, surpassing the market expectation of $33.25 billion. Among these, the data center business generated $30.80 billion in revenue, higher than the market expectation of $29.14 billion. NVIDIA expects fourth-quarter revenue to be $37.50 billion, with a fluctuation of 2% up or down.


Next news:Digital Currency Group (DCG) has launched a new subsidiary named Yuma, focusing on artificial intelligence to support the development of the open-source Bittensor network. This move marks the integration of cryptocurrency and artificial intelligence, aiming to reduce the "top-down" development of machine learning through decentralized infrastructure. Yuma will provide funding and technical resources for both startups and established companies to build projects on Bittensor. Bittensor is a decentralized open-source network where users can run various AI models by contributing computational power and receive incentives through the TAO token. DCG founder Barry Silbert stated that Yuma will provide all the resources necessary for businesses to deploy innovative ideas. DCG has been investing in Bittensor since 2021 and has invested in several decentralized AI projects. Silbert will serve as the CEO of Yuma.
Next news:The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Franklin Crypto Index ETF, proposed by Franklin Templeton, which aims to combine Ethereum and Bitcoin. The SEC decided to extend the review period to allow for more thorough consideration of the relevant rule changes and issues. If approved, the ETF will be listed on the Cboe BZX exchange and will use Coinbase Custody Trust Company LLC as the digital asset custodian. The SEC's decision comes after the launch of options for spot Bitcoin ETFs.
Next news:The Trump team is considering establishing a new position in the White House focused on cryptocurrency policy, marking the first such attempt by the administration. Trump expressed support for cryptocurrencies during his campaign and proposed firing SEC Chairman Gary Gensler, promising to commute the life sentence of Silk Road founder Ross Ulbricht, forming a Presidential Advisory Committee on Cryptocurrency, and creating a national strategic Bitcoin reserve. After the election, Trump nominated several pro-crypto executives for key positions, including appointing Cantor Fitzgerald CEO Howard Lutnick to lead the U.S. Department of Commerce, and Bitcoin supporter Robert F. Kennedy as the Secretary of the U.S. Department of Health and Human Services. Recent interactions between cryptocurrency industry executives and the Trump team have also taken place. Ripple CEO Brad Garlinghouse stated that he has discussed personnel appointments with Trump's close associates, and executives from Circle have engaged in conversations with Trump’s transition team. Coinbase CEO Brian Armstrong spoke with Trump about cryptocurrency and who would lead the SEC and the Commodity Futures Trading Commission.
Next news:

According to Cointelegraph, the Japanese government has announced plans to advance a new economic stimulus program, expected to be approved by the end of 2024. The proposed tax reform measures include changes to income tax, corporate tax, and cryptocurrency tax. Currently, Japan's policies regarding cryptocurrency taxation rely on a vague and variable "miscellaneous tax," which can impose taxes of up to 55% on transactions. Opposition parties are calling for a uniform tax rate of 20% on digital assets.


Next news:

According to Wu, OKX market data shows that BTC has just broken through $95,000, currently quoted at $95,272 per coin, with a daily increase of 0.56%.

According to Wu, OKX market data shows that BTC has just broken through $95,000, setting a new historical high, currently quoted at $95,272 per coin, with a daily increase of 0.56%.

Next news:

According to Wu, Bitwise has submitted documents in Delaware, USA, to register the BITWISE SOLANA ETF entity, which means that Bitwise will also join the ranks of those applying for a Solana spot ETF. Previously, several companies had applied to register Solana spot ETFs, and the public is anticipating that Trump and the new SEC chairman might approve the Solana ETF after taking office.


Next news:Bitcoin breaks above 94,000 USDT, setting a new all-time high.
Next news:Phantom, a cryptocurrency wallet platform, achieved a record-high rank in the iOS app store, placing ninth among top free iPhone apps. This marks the first time Phantom has entered the top 10, surpassing WhatsApp and Instagram, which ranked 13th and 14th, respectively. Additionally, Phantom ranked second among free utility apps, just behind Google's search engine app. The app's rapid rise in rankings is notable, as it was ranked 377th just over a week ago. Phantom, initially based on Solana, now supports Ethereum, Bitcoin, Base, and Polygon. The company raised $109 million in Series B funding, reaching a $1.2 billion valuation on January 31, 2022, coinciding with its iOS app launch.

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.

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