All sectors in the cryptocurrency market are growing strongly, with Ethereum and Bitcoin recording new high prices.
Cryptocurrency group indices such as Non-Fungible Token, DeFi, and CeFi are all increasing positively, except for the meme sector, which saw a slight decrease. This trend demonstrates a strong recovery and diverse investor interest.
- Ethereum reaches a new all-time high since late 2021, surpassing $4,300.
- Bitcoin increases nearly 4%, approaching the record high of $121,000.
- Non-Fungible Token and DeFi sectors show notable growth, while Meme Coin declines slightly.
Why are Ethereum and Bitcoin rising strongly recently?
Ethereum has shown continuous growth over the past two days, reaching a new peak above $4,300, the highest since late 2021. Bitcoin also increased by 3.96%, nearly breaking the $121,000 record. This is evidence of the positive trend in the global cryptocurrency market.
This price increase demonstrates the potential strength of the two leading digital currencies, while consolidating market capitalization and investor confidence in the Blockchain ecosystem and Smart Contract applications. Indices like MAG7.ssi and DEFI.ssi also increased by 1.69% and 3.10% respectively, showing a synchronized improvement across multiple asset groups.
This trend partly reflects strong buying from whales and professional investment funds, as well as the recovery of DeFi and Non-Fungible Token applications related to the Ethereum platform.
What are the highlights of the Non-Fungible Token and DeFi sectors in this price increase?
The Non-Fungible Token sector increased by 4.28% in 24 hours, with strong breakthroughs from notable projects like Pudgy Penguins (+4.77%) and Zora (+28.82%). DeFi also recorded a 1.79% increase, with Ethena and Lido DAO rising by 10.79% and 11.30% respectively, demonstrating the growing attraction of DeFi.
These figures show that Non-Fungible Token and DeFi continue to be two important development areas in the cryptocurrency market, attracting new capital through innovative products and efficient operating models.
"The balanced growth of Non-Fungible Token and DeFi is driving sustainable development for the entire cryptocurrency ecosystem."
Blockchain Expert Lê Minh, 2024
This is also reflected in the ssiNFT and ssiDeFi indices, which increased by 4.04% and 3.44% respectively, showing the depth and spread of these segments in the market.
Why is the Meme Coin sector slightly declining while other groups are increasing?
The Meme Coin sector decreased by 0.52%, with DOGE, PEPE, and TRUMP tokens experiencing declines between 1.36% and 2.08%. This demonstrates the difference in characteristics and behavior of this Token group compared to other segments.
Meme Coins are often heavily influenced by market sentiment and media phenomena, leading to significant price volatility but lacking long-term stability. The slight decline in the context of an overall market recovery may be due to investors focusing on Tokens with higher application potential and more solid projects like Non-Fungible Token and DeFi.
How do the ssi indices reflect the current market trend?
The ssiNFT, ssiDeFi, and ssiCeFi indices increased by 4.04%, 3.44%, and 1.42% respectively, showing that these sectors are demonstrating a strong recovery trend and stable development.
The consensus price increase across multiple index groups is a positive signal for investor confidence in the profitability and long-term sustainability of various digital asset segments in the diverse cryptocurrency market.
"Industry indices show a clear profit differentiation, marking a bright spot for new technology application sectors and innovative financial models."
Market Analysis by Vietnam Cryptocurrency Research Center, 2024
Frequently Asked Questions
When did Ethereum reach its highest price?
Ethereum has set a new peak above $4,300, the highest since late 2021, reflecting the strong recovery of the Ethereum network.
What is Bitcoin's current price and will it continue to increase?
Bitcoin increased by 3.96% to near $121,000, approaching its all-time historical record, showing a positive short-term price trend.
Why are Non-Fungible Token and DeFi attracting so much attention in this price increase?
Non-Fungible Token and DeFi attract investors through innovative products and DeFi models, offering high profitability and development potential.
Does the decline in the Meme Coin sector affect the overall market?
The slight decline in Meme Coin does not significantly impact the market, as other groups like Non-Fungible Token and DeFi show strong growth trends, creating market balance.
What is the ssi index used to evaluate in the cryptocurrency market?
The ssi index is used to reflect price trends and the health of different sectors in the cryptocurrency market, supporting investor decision-making.
