SocialFi Sector Drives Crypto Rebound With 5.72% Gain
1min read The cryptocurrency market experienced a modest rebound, with the SocialFi sector leading the charge by rising for the fourth consecutive day. Within this sector, Toncoin (TON) saw a significant increase of 5.72% over the past 24 hours. This surge in the SocialFi sector was part of a broader market trend where Bitcoin (BTC) and Ethereum (ETH) also showed signs of stabilization and resumed their uptrend. Bitcoin rose by 1.20%, briefly reaching near $84,000, while Ethereum increased by 1.01%, reclaiming the $1,800 level.
Other sectors also saw varied performance. The RWA sector increased by 0.96% in the past 24 hours, with Pendle (PENDLE) leading the way with a 9.56% increase. The CeFi sector saw a 0.56% rise, driven by a 6.01% increase in Hyperliquid (HYPE). The Meme sector also showed gains, with Pepe (PEPE) and Fartcoin (FARTCOIN) rising by 4.42% and 10.38% respectively. However, the Layer1 sector saw a modest increase of 0.21%, while the DeFi sector declined by 0.31%, the PayFi sector by 0.66%, and the Layer2 sector by 1.09%.
The sector indexes reflecting historical market trends also showed positive movements. The ssiSocialFi index increased by 5.20% and the ssiRWA index by 1.28% in the past 24 hours, indicating a strong performance in these sectors. This rebound in the cryptocurrency market suggests a stabilization and potential resumption of the uptrend for major cryptocurrencies like Bitcoin and Ethereum, with the SocialFi sector being a notable driver of this positive momentum.
Ask Aime: What caused the modest rebound in the cryptocurrency market, particularly the rise of Toncoin (TON) in the SocialFi sector?
