As of 5:59 AM on January 23, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.68 trillion US dollars, witnessing a decrease of 4.16% compared to yesterday; the total trading volume is 179.15 billion US dollars, marking a decline of 23.3% from the previous day.

Cryptocurrency Market Update

According to sosovalue, the price of $BTC is 102,520 USD, a decrease of 3.03% from yesterday. The market cap of $BTC is 2.03 trillion USD, accounting for 55.2% of the total market cap; $BTC's 24-hour trading volume is 55.83 billion USD, making up 31.2% of the total trading volume.

The price of $ETH is 3,215.4 USD, down 3.18% from yesterday; the market cap of $ETH is 387.46 billion USD, representing 10.5% of the total market cap; $ETH's 24-hour trading volume is 22.03 billion USD, comprising 12.3% of the total trading volume.

The combined market capitalization of $BTC and $ETH accounts for 65.7% of the total cryptocurrency market cap, and their combined trading volumes constitute 43.5% 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 Tornado Cash. As of 05:50 today, its market cap is 67.39M, with a coin price of 17.685 USD, witnessing a 24-hour increase of 106%.
The second is Decentralized Social. As of 05:50 today, its coin price is 19.293 USD, with a 24-hour increase of 67.8%.
The third is Cros. As of 05:50 today, its coin price is 0.0081700 USD, showing a 24-hour increase of 60.5%.
In fourth place is Vectorspace AI. As of 05:50 today, its coin price is 0.19262 USD, with a 24-hour rise of 57.3%.
In fifth place is Lybra Finance. As of 05:50 today, its coin price is 0.080760 USD, increasing by 53.9% over the last 24 hours.

Crypto Market Sector Performance

Moving on, let's take a look at the sector performance in the crypto market.

According to sosovalue, out of 16 sectors, 1 is up and 15 are down. Notably, the DeFi, Meme, and AI sectors are worth mentioning.

DeFi Sector

The DeFi sector has fallen by 4.98% relative to the UTC 0 time, led by declines in pbr (-24.1%), reef (-20.5%), and rbx (-19.8%).

Meme Sector

The Meme sector has decreased by 5.5% relative to UTC 0, with SEKOIA (-29.2%), vvaifu (-28.9%), and GAME (-27.2%) leading the drop.

AI Sector

The AI sector has fallen by 8.89%, with SEKOIA (-29.2%), vvaifu (-28.9%), and GAME (-27.2%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Wu, Bloomberg ETF analyst James Seyffart has stated that the CME Group has seemingly added pages for XRP and SOL futures on its test site, indicating that both are expected to launch on February 10, pending regulatory approval. It is worth noting that the official website has not yet released any related information.
Next news:

According to SoSoValue, as of January 22th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $248.65M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $47.93M, bringing GBTC's total historical net outflow to $21.70B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 0.00 ，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $1.10B.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $344.28M, with IBIT's total historical net inflow reaching $39.42B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $121.40B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.87%. The historical cumulative net inflow has reached $39.23B.

Source: https://sosovalue.com/assets/etf

Next news:

According to Wu, the decentralized stablecoin protocol Frax Finance has proposed to invest in the Trump family crypto project World Liberty Financial (WLFI), with an initial investment of 5 million USD, which may increase to 10 million USD depending on the cooperation situation. WLFI has already invested over 70 million USD in the DeFi sector, mainly targeting U.S. projects like Aave, Chainlink, and Ethena. Frax co-founder Stephen Moore was previously an economic advisor to Trump.

Next news:House Democrats have raised concerns about potential corruption in former President Donald Trump's involvement in cryptocurrency business ventures. They are urging for investigations into his financial dealings to ensure transparency and accountability.
Next news:Wu reported that Cathie Wood stated in an interview with Bloomberg that TRUMP is a meme coin. She herself has not purchased it and only holds Bitcoin, Ethereum, and Solana. However, she believes that the coin is not entirely without value and may symbolize a new phase of the cryptocurrency revolution, potentially possessing some utility in the future.
Next news:

According to Wu, Coinbase has announced that it will support Toshi (TOSHI) on the Base network, reminding users not to send the asset through other networks to avoid losing funds. Trading will commence on January 23, 2025, at 9 AM (Pacific Time) or later, subject to liquidity conditions. Toshi is a meme coin on the Base chain, named after Coinbase co-founder Brian Armstrong's cat and the pseudonymous creator of Bitcoin, Satoshi Nakamoto.

Next news:

According to Deep Tide TechFlow, on January 23, Rus Yusupov, co-founder of the short video platform Vine, announced the issuance of VINECOIN on the X platform and released a video confirming that the account had not been hacked. The market capitalization of VINECOIN once surpassed 20 million USD.

Previously, Musk stated on January 19 that the X platform was considering rebooting the Vine service. Vine was a well-known 6-second short video platform under Twitter, founded in 2012 and closed its core services in 2017.

Next news:1. $BTC has fallen below $104,000, currently trading at $103,950.10 per coin on the OKX market.
2. The price change for the day is 0.00%, indicating stability in the market.
3. This information was reported by PANews on January 22.
Next news:According to reports from Taiwan's Economic Daily, the Financial Supervisory Commission (FSC) of Taiwan plans to propose a draft law specifically for Virtual Asset Service Providers (VASP) in June 2025, which will allow banks to issue stablecoins for the first time. FSC Chairman Peng Jinlong stated that stablecoins will serve as a bridge between fiat currency and virtual currency, providing investors with a trading entry point. The Director of the Banking Bureau, Zhuang Xiuyuan, mentioned that the stablecoins currently circulating in the market, such as USDC (U.S. Dollar Coin) and USDT (Tether), are not approved by the regulatory authorities but are self-claimed by operators as being backed by U.S. dollar assets. In the future, after the amendment of the law, all stablecoins issued in Taiwan will need to be approved by the FSC, including the qualifications of issuers and the allocation of reserves.
Next news:

According to Wu, Bithumb, the second-largest cryptocurrency exchange in South Korea, will launch Korean won spot trading pairs for Arthur (ARDR) and QuarkChain (QKC). The trading will open at 5:00 PM local time. ARDR is the digital currency used in the Ardor system, which is a multi-chain blockchain platform. QuarkChain (QKC) is a decentralized blockchain platform.

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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