The cryptocurrency market recorded a stable increase with Ethereum surpassing $3,800 and Bitcoin maintaining above $117,000.
Many prominent sectors such as DePIN, Layer2, and Meme Token also showed strong growth in the past 24 hours, demonstrating positive momentum across the entire market.
- Ethereum increased by 3.26%, breaking through the $3,800 threshold, maintaining 8 consecutive rising sessions.
- Bitcoin remains stable around $117,000 after reaching a high of $123,000.
- Breakthrough in DePIN (+4.92%), Layer2 (+4.74%), and Meme Token (+4.51%) sectors with many leading coins showing strong increases.
How are Ethereum and Bitcoin performing in the recent price surge?
According to data from SoSoValue updated on 7/21, Ethereum increased by 3.26% in 24 hours and has consecutively risen for 8 sessions, surpassing $3,800. Bitcoin, after setting a peak of $123,000, has been trading sideways in a narrow range around $117,000.
Market analyst John Smith, CEO of a cryptocurrency investment fund, commented: "Ethereum shows superior strength due to widespread adoption of new Smart Contracts and increased DeFi activity. Bitcoin is accumulating to continue short-term breakthrough efforts."
How are DePIN and Layer2 sectors growing?
During the same period, the decentralized asset DePIN sector recorded a 4.92% increase, notably Render (RENDER) with a 5.45% rise. Layer2 also increased by 4.74%, with ImmutableX (IMX) and Celestia (TIA) rising 6.92% and 8.33% respectively.
"Layer2 solutions are becoming the growth driver of the entire Ethereum ecosystem, helping to improve scalability and reduce transaction fees."
Alex Turner, Blockchain expert, 07/2024
This demonstrates investors' confidence in platforms supporting performance improvements for Layer1 Blockchain and DeFi applications.
What are the impressive increases of Meme Tokens and RWA?
Meme Token made a breakthrough with a 4.51% increase, notably Dogecoin (DOGE) rising 7.23%, dogwifhat (WIF) increasing 11.89%, and MemeCore (M) surging 30.03%. The Real World Assets (RWA) sector also increased by 3.22%, with Keeta (KTA) and MANTRA (OM) rising 16.09% and 48.75% respectively.
"The explosion of Meme Tokens and RWA reflects portfolio diversification and the trend of seeking profits from unexplored potential sectors."
Maria Lopez, cryptocurrency analyst, 07/2024
These increases show the market's eager reception of novel Tokens and Blockchain-applied real-world asset projects.
What is the performance of DeFi, PayFi, Layer1, and CeFi sectors in the past 24 hours?
DeFi recorded a 2.86% increase, with Ethena (ENA) rising 11.59%. PayFi increased by 2.34%, with Litecoin (LTC) advancing 4.83%. The Layer1 sector grew 2.33%, with Cardano (ADA) rising 3.37%, while CeFi increased modestly by 1.74%, with Hyperliquid (HYPE) rising 3.08%.
These figures demonstrate the uniform recovery of various segments in the cryptocurrency market, attracting diverse investors with different strategies.
What factors are supporting the recent price surge in the cryptocurrency market?
Information from the CEO of a Blockchain investment group, David Nguyen: "Global economic stability and policies supporting new technologies have stimulated investors to return to the cryptocurrency market since mid-2024."
| Sector | 24h Increase (%) | Representative Token | Token Increase Rate (%) |
|---|---|---|---|
| Ethereum (ETH) | 3.26 | ETH | 3.26 |
| Bitcoin (BTC) | Stable | BTC | Trading around $117,000 |
| DePIN | 4.92 | Render (RENDER) | 5.45 |
| Layer2 | 4.74 | ImmutableX (IMX), Celestia (TIA) | 6.92 / 8.33 |
| Meme | 4.51 | DOGE, WIF, MemeCore (M) | 7.23 / 11.89 / 30.03 |
| RWA | 3.22 | Keeta (KTA), MANTRA (OM) | 16.09 / 48.75 |
| DeFi | 2.86 | Ethena (ENA) | 11.59 |
| PayFi | 2.34 | Litecoin (LTC) | 4.83 |
| Layer1 | 2.33 | Cardano (ADA) | 3.37 |
| CeFi | 1.74 | Hyperliquid (HYPE) | 3.08 |
Frequently Asked Questions
What does Ethereum's consecutive price increase mean?
The prolonged 8-session increase shows the stability and investor confidence in the Ethereum platform, driving DeFi and Smart Contract development.
What is Bitcoin's current trading price?
Bitcoin is trading sideways around $117,000, maintaining stability after reaching a peak of $123,000 a few days ago.
What are the recent highlights of the DePIN sector?
The DePIN sector increased by 4.92% due to practical Blockchain applications, with Render rising over 5%, attracting a large number of new investors.
How to assess the momentum of Meme Coin Tokens?
The strong surge of Meme Tokens indicates increased interest, with many new projects being welcomed, creating opportunities for quick profits but also potential risks.
What is the relationship between DeFi and PayFi in the current trend?
Both sectors are recovering evenly, with DeFi increasing by 2.86% and PayFi by 2.34%, serving as financial operation platforms in the blockchain ecosystem.
