SoSo Daily Jan 22 | MicroStrategy Increases Bitcoin Holdings to 461,000 BTC with $1.1 Billion Purchase

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 PM on January 21, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.79 trillion US dollars, witnessing an increase of 0.437% compared to yesterday; the total trading volume is 265.55 billion US dollars, marking a decline of 35.1% from the previous day.

According to sosovalue, the price of $BTC is 106,200 USD, an increase of 3.85% from yesterday. The market cap of $BTC is 2.10 trillion USD, accounting for 55.5% of the total market cap; $BTC's 24-hour trading volume is 95.38 billion USD, making up 35.9% of the total trading volume.
The price of $ETH is 3,329.3 USD, up 1.38% from yesterday; the market cap of $ETH is 401.18 billion USD, representing 10.6% of the total market cap; $ETH's 24-hour trading volume is 33.61 billion USD, comprising 12.7% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 48.6% 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 VeThor. As of 23:50 today, its market cap is 561.72M, with a coin price of 0.0065900 USD, witnessing a 24-hour increase of 192%.
The second is Mister Miggles. As of 23:50 today, its coin price is 0.077540 USD, with a 24-hour increase of 50.5%.
The third is WATCoin. As of 23:50 today, its coin price is 0.00010280 USD, showing a 24-hour increase of 43.4%.
In fourth place is Ooki. As of 23:50 today, its coin price is 0.00010573 USD, with a 24-hour rise of 40.8%.
In fifth place is ADreward. As of 23:50 today, its coin price is 0.0000045100 USD, increasing by 37.5% 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, 16 are up and 0 are down. Notably, AI, Others, and Meme sectors are worth mentioning.
AI sector has risen 5.33% relative to the UTC 0 time, led by gains in clore (22.6%), arc (22%), and ai16z (21.7%).
Others sector has increased 5.29% relative to UTC 0, with vtho (198%), ad (37.5%), and ORDER (34.7%) leading the rise.
Meme sector has risen 5.06%, with MIGGLES (50.6%), scihub (36.5%), and mumu (25.8%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:MicroStrategy has acquired an additional 11,000 Bitcoin for $1.1 billion, increasing its total holdings to 461,000 BTC. This move is part of the company's ongoing strategy to invest in Bitcoin as a primary treasury reserve asset. Michael Saylor, the Executive Director, continues to lead this initiative.
Next news:The U.S. Securities and Exchange Commission (SEC) has established a new task force focused on cryptocurrency regulation, led by Commissioner Hester Peirce. This initiative aims to address the growing challenges and complexities in the crypto market, ensuring investor protection and market integrity. Peirce, known for her pro-crypto stance, will guide the task force in developing regulatory frameworks that balance innovation with security.
Next news:Ethereum's founder Vitalik Buterin took proactive measures in response to a significant leadership change.
Next news:

Circle announced the acquisition of Hashnote, the issuer of the tokenized currency market fund USYC. The acquisition aims to integrate USYC with Circle's USDC, enabling the conversion between on-chain cash and yield-generating collateral. Circle has also partnered with crypto market maker Cumberland to provide liquidity and settlement support for USDC and USYC. Additionally, Circle plans to deploy USDC on the Canton Network, a blockchain used by traditional financial institutions for real-world asset trading. (CoinDesk)

Next news:KULR Technology Group has increased its Bitcoin holdings by purchasing an additional $8 million worth of Bitcoin, bringing its total holdings to 510 BTC. This move reflects the company's strategy to diversify its assets and invest in cryptocurrency.
Next news:On January 21, according to PANews, the OKX market shows that $BTC has just surpassed $103,000, with the current trading price at $103,092.40, down 1.77% for the day.
Next news:According to VentureBeat, TON has become the exclusive partner of the Telegram Mini App platform, with TON serving as the exclusive blockchain infrastructure supporting the Telegram Mini App ecosystem. The core of this collaboration is the adoption of TON's wallet connection protocol, TON Connect, as the exclusive protocol to link Telegram Mini Apps to blockchain wallets. All Mini Apps that use the blockchain in any way, including hosted and non-hosted wallets, user authorization, on-chain signatures, and the sending and receiving of blockchain-based assets, must implement TON Connect as their exclusive wallet connection protocol within the next month. Toncoin will be the sole currency used to pay Telegram Mini App developers and channel owners for the Telegram Stars and advertising revenue they earn.
Next news:

As the Trump couple launched their successful Meme coins, criticism within the cryptocurrency industry has been rampant.

Many executives in the cryptocurrency sector expressed strong dissatisfaction. They believe that these Meme coins could severely damage the overall reputation of cryptocurrencies, bringing negative impacts to both Trump himself and the entire cryptocurrency industry. They had originally hoped that the new Republican administration would seriously promote the development of the digital asset sector, but the emergence of these two new Meme coins has left them greatly disappointed.

The Meme coin industry is filled with joke tokens like Dogecoin, which have little intrinsic value but exhibit extreme volatility. Their prices are highly dependent on social media influence, making them prone to rapid surges and potential crashes. The existence of such Meme coins has exacerbated external criticisms of the emerging cryptocurrency sector as being too frivolous and excessively risky.

According to data from cryptocurrency data aggregation platform CoinMarketCap, the market capitalization of TRUMP coin once reached 15 billion USD but subsequently fell below 8 billion USD following the launch of Melania Meme coin. As of the time of writing, the market cap of TRUMP coin remains around 9 billion USD, reflecting a decline of over 40% from its peak. The price of Melania Meme coin has dropped nearly 60% from its highest point of 13.73 USD.

Additionally, at 1:00 AM Beijing time on January 21, according to Xinhua News Agency, Trump had just been sworn in as President of the United States. Bitcoin futures plummeted below 102 thousand USD, reversing earlier gains for the day. On January 20 at 14:37 Beijing time, Bitcoin futures had surged above 109 thousand USD, setting a new historical high.

Rob Hadick, a general partner at cryptocurrency-focused venture capital firm Dragonfly Capital, stated:

"The Meme tokens issued by the Trump couple are clearly a stain, and as industry builders, we will have to work hard to overcome it."

Balaji Srinivasan, the former CTO of U.S. cryptocurrency exchange Coinbase and an angel investor, posted on social media platform X:

"Meme tokens are a zero-sum 'lottery'; the price will eventually crash, and the last buyers will lose everything."

Anthony Scaramucci, founder of SkyBridge Capital LLC, pointed out on social media that the launch of Melania coin led to a decrease in the price of Trump coin. Scaramucci briefly served as the communications director for the Trump administration in 2017 before being dismissed and becoming a critic of Trump.

Gabor Gurbacs, former director of digital asset strategy at investment provider VanEck and founder of PointsVille, stated that these Meme coins "have caused the United States, the presidency, and his family to lose a lot of credibility." Gurbacs warned that the consequences brought by these projects "have not yet begun to manifest" and called for Trump to dismiss his cryptocurrency advisor.

Caroline Mauron, co-founder of Orbit Markets, described the weekend events surrounding the Meme coins as a "crazy" turn of events, noting that "even the cryptocurrency industry did not fully anticipate it." She remarked:

"I think people were originally expecting a more traditional policy approach, which may still emerge."

It is noteworthy that Trump has previously held a skeptical attitude towards cryptocurrencies, but his stance has shifted as the industry injected significant funds into campaign activities ahead of the U.S. elections. Currently, Trump plans to establish the U.S. as the global hub for the digital asset industry and supports the idea of creating a national Bitcoin reserve. The Trump administration is reportedly considering issuing an executive order to classify crypto assets as a "national priority."

Next news:Wu learned that, according to Bloomberg ETF analyst Eric Balchunas, Rex has applied to launch the Doge ETF and the Trump ETF.
Next 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.