SoSo Daily Apr 26 | Paul Atkins Advocates for a Shift in Crypto Regulation, Criticizes Previous Policies for Hindering Innovation
Crypto Market Update
Let's turn our attention to today's overall Crypto market situation.
As of 00:01 on April 26, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.07 trillion US dollars, witnessing a decrease of 0.442% compared to yesterday; the total trading volume is 118.19 billion US dollars, marking an increase of 17% from the previous day.
Cryptocurrency Market Update - April 26, 2025
According to sosovalue, the price of $BTC is 94,652 USD, an increase of 0.715% from yesterday. The market cap of $BTC is 1.88 trillion USD, accounting for 61.3% of the total market cap; $BTC's 24-hour trading volume is 40.13 billion USD, making up 34% of the total trading volume.
The price of $ETH is 1,787.2 USD, up 0.992% from yesterday; the market cap of $ETH is 215.75 billion USD, representing 7.04% of the total market cap; $ETH's 24-hour trading volume is 16.34 billion USD, comprising 13.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 68.34% of the total cryptocurrency market cap, and their combined trading volumes constitute 47.8% of the total trading volume.
As of 00:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is TROY. As of 00:00 today, its market cap is 3.99M, with a coin price of 0.00039870 USD, witnessing a 24-hour increase of 210%.
The second is Alpaca Finance. As of 00:00 today, its coin price is 0.17250 USD, with a 24-hour increase of 163%.
The third is Hegic. As of 00:00 today, its coin price is 0.026409 USD, showing a 24-hour increase of 84.5%.
In fourth place is DeFiChain. As of 00:00 today, its coin price is 0.0094870 USD, with a 24-hour rise of 83.5%.
In fifth place is REVOX. As of 00:00 today, its coin price is 0.016660 USD, increasing by 57.8% over the last 24 hours.
Sector Performance in Crypto Market
According to sosovalue, out of 15 sectors, 13 are up and 3 are down. Notably, NFT, DePIN, and Meme sectors are worth mentioning.
NFT sector has risen 3.59% relative to the UTC 0 time, led by gains in muse (19.6%), PENGU (19.2%), and bubble (13.9%).
DePIN sector has increased 3.32% relative to UTC 0, with xyo (42.9%), bzz (15.8%), and shdw (15.8%) leading the rise.
Meme sector has risen 2.57%, with GAME (48.7%), VADER (40.7%), and bonk (27%) leading the rise.
Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:
Paul Atkins, the newly appointed chairman of the U.S. Securities and Exchange Commission (SEC), made his first public appearance on the fourth day in office and attended a crypto roundtable. He stated that he will cooperate with Congress and the Trump administration to promote the establishment of a “reasonable and targeted” regulatory framework for crypto assets, and believes that digital assets can bring significant benefits such as risk mitigation and cost reduction.
He criticized the previous administration's regulatory policies under the Biden government for hindering innovation, emphasizing that regulatory uncertainty has been an obstacle to market development in recent years. (TheBlock)
Next news:Background: The Federal Reserve has revoked two anti-cryptocurrency regulatory guidances issued in 2022 and 2023, aiming to support innovation in the sector. The previous guidances warned banks about volatility, liquidity, and legal risks associated with crypto assets and stablecoin activities.
Key Events: The Federal Reserve has relaxed restrictions on banks participating in cryptocurrency and stablecoin activities, although it retains one anti-crypto guidance passed by the Board of Governors in 2023. The OCC and FDIC have also shown supportive attitudes toward cryptocurrencies. The FDIC is investigating the crypto de-banking phenomenon during the Biden administration.
Potential Impact: Industry insiders such as Strategy founder Michael Saylor believe this move is favorable for Bitcoin, while Alex Svanevik, CEO of blockchain analytics firm Nansen, sees a positive impact on banks entering the stablecoin market. Caitlin Long, founder of Custodian Bank, cautions that regulations have not been fully relaxed yet, and stablecoin legislation may alter existing guidances.
Special Note: The content mentions SoSoValue.
Next news:Paradigm leads a $50 million Series A funding round for decentralized AI project Nous Research.
Background: Founded in 2023, Nous Research is an open-source AI lab dedicated to advancing foundational AI models through a decentralized, community-driven approach. It leverages blockchain infrastructure, primarily Solana, to coordinate global contributors, incentivize the sharing of idle computing resources, and ensure transparency in the training process.
Funding Details: This round was almost entirely financed by Paradigm, bringing the valuation of Nous Research's yet-to-be-issued tokens to $1 billion. Previously, Nous Research completed a seed round of approximately $20 million, with investors including Distributed Global, OSS Capital, Delphi Ventures, among others.
Project Progress: Nous Research's flagship language model, Hermes 3, has been downloaded over 50 million times and supports multiple platforms. Its Psyche network testnet has been launched, aiming to achieve decentralized machine learning by connecting diverse GPU hardware, serving as an alternative to existing closed and costly cloud AI systems.
Future Plans: Nous Research intends to use the new funds to expand research and development, build the foundational computing infrastructure for the Psyche network, conduct strategic hiring, and accelerate the development of new AI models.
Special Note: This article contains information related to SoSoValue.
Next news:Wu Shuo learned that, according to Arkham monitoring, the pump fun: Fee Account transferred a total of 45.79 thousand SOL to Kraken Deposit from 20:49 to 21:26 UTC+8 today, worth approximately 7.03 million USD. Currently, pump fun still holds assets worth about 140 million USD, including around 119 million USD worth of SOL.
Next news:
According to TechFlow, on April 25, Alpaca Finance officially announced that Binance will delist the ALPACA token in the coming weeks. Alpaca Finance stated that users can still trade ALPACA on other exchanges.
Due to today's ALPACA trading volume exceeding 1 billion tokens, market makers requested Alpaca Finance to temporarily mint additional ALPACA tokens from the reserve treasury to support user trading demand during the remaining trading time on Binance. The project team indicated that once the trading volume decreases, these minted tokens will be returned to the reserve treasury.
Next news:Bitwise Asset Management has registered an exchange-traded fund entity named "Bitwise NEAR ETF" in Delaware, marking the preliminary step toward launching a NEAR ETF. NEAR is the 43rd largest cryptocurrency by market capitalization and has seen a slight recent price increase. Previously, Bitwise also registered funds tracking Dogecoin, Aptos, and XRP in Delaware and submitted related registration statements to the U.S. Securities and Exchange Commission (SEC), awaiting approval for trading. In recent years, the SEC adopted a more crypto-friendly regulatory stance during the Trump administration, approving the listing of spot Bitcoin and Ethereum ETFs, and is currently reviewing proposals for multiple cryptocurrency ETFs.
Next news:Wu Shuo learned that Semler Scientific (Nasdaq: SMLR) announced that as of April 24, 2025, the company purchased an additional 111 Bitcoins during the period from February 14 to April 24, holding a total of 3,303 Bitcoins. The cumulative investment amounts to approximately 290.40 million USD, with an average purchase price of 87,929 USD per Bitcoin. The market value on that day was about 309.10 million USD.
Next news:
Odaily Planet Daily reports that Bitcoin has led the rebound in risk assets and is poised to record the largest weekly gain since Trump won the U.S. presidential election. As investors digest the impact of Trump's trade war, the Nasdaq 100 Index, dominated by tech stocks, rose about 5%, but Bitcoin has climbed approximately 12% since last week, surpassing $95,000 for the first time since early March.
Jack Ostrovskis, a trader at cryptocurrency market maker Wintermute, stated: “Amid continuous volatility, the implied correlation within cryptocurrencies remains high. Therefore, despite overall market improvement, it is clear that macro and geopolitical forces continue to be the main drivers of capital flows.” (Jin10)
Next news:Wu Shuo learned that Tether announced the completion of a tender offer to acquire up to 49.60 million common shares of South American agricultural giant Adecoagro S.A. The transaction price was $12.41 per share, with a total amount exceeding $615 million. The offer closed on April 24, receiving approximately 67.08 million valid subscriptions, with a final allocation ratio of about 73.9%. According to the previous agreement, this transaction will enable Tether to obtain a controlling stake in Adecoagro.
Next news:Wu Shuo learned that Binance announced that starting from May 2, 2025, if the funding rate of USDⓈ-M perpetual contracts reaches the upper or lower limit at settlement (e.g., ±0.3%), the settlement frequency will automatically increase from every 8 hours or 4 hours to every 1 hour. This is to cope with highly volatile markets and improve risk hedging efficiency. The adjustment will take effect within 15 minutes after the funding rate hits the cap and will apply to mainstream contracts such as BTCUSDT.
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.