SoSoValue, a crypto market data provider known for its comprehensive analytics and indices, saw its newly launched token price jump 35.3% to $1.13 at the last check on Saturday.
After launching on Jan. 24, the SOSO token hit an all-time high of $1.42. It currently has a 24-hour trading volume of $61.2 million.
This surge follows the company’s successful $15 million Series A funding round, which raised its valuation to $200 million. The round was led by SmallSpark.ai and HongShan, previously Sequoia China.
What will proceeds go toward?
SoSoValue plans to use this funding to launch its indices protocol, a platform that will allow investors to gain exposure to a range of major cryptocurrency assets.
The platform will feature four new wrapped tokens—MAG7.SSI, MEME.SSI, DEFI.SSI, and USSI—designed to track key sectors within the crypto market.
The SoSoValue Indices protocol will operate on Base, an Ethereum (ETH) scaling solution backed by Coinbase, offering a streamlined investment experience.
Additionally, SoSoValue officially launched on the Launchpool platform, kicking off a new mining event to engage the community and further boost its market presence.
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