The cryptocurrency market has surged strongly as tensions in the Middle East ease
According to SoSoValue data, tensions in the Middle East have eased with a ceasefire declaration between Iran and Israel, creating momentum for the cryptocurrency market's recovery. The synchronized growth of leading tokens has helped the entire market rebound from its lows, with overall increases ranging from 3% to 13%.
Bitcoin and Ethereum surge during the recovery
Bitcoin (BTC) recorded an increase of 4.26% in just 24 hours, temporarily peaking above 106,000 USD, currently trading around 105,000 USD. Ethereum (ETH) also made notable gains with a jump of 7.37%, breaking the important technical resistance level of 2,400 USD, reaffirming its position as the number one smart contract platform.
The explosion of the AI sector in cryptocurrency
The cryptocurrency market witnessed a strong boost from AI-related projects, with an average increase of 13.44% in 24 hours. Notably, Bittensor (TAO), Fetch.ai (FET), and Virtuals Protocol (VIRTUAL) all rose by 13.71%, 17.29%, and 18.52% respectively. This demonstrates the growing appeal of solutions combining AI and DeFi.
Other prominent sectors in the cryptocurrency market
The real asset (RWA) sector surged with a growth of 12.33%, highlighted by Ondo Finance (ONDO) and Plume (PLUME) increasing by 11.78% and 13.39% respectively. The demand and interest in NFT projects also improved significantly with a growth of 10.88%, notably Pudgy Penguins (PENGU) and Moca Coin (MOCA) increasing by 14.05% and 29.13%.
Impressive growth in Layer2, DeFi, and Meme segments
The Layer2 segment achieved a growth of 10.17%, Movement (MOVE) surged by 34.66%, showing that scalability and improving user experience are increasingly prioritized. The DeFi sector continues to tread steadily with a growth of 9.97%, Jupiter (JUP) increasing by 15.78%. Although often considered a speculative trend, the Meme sector also rose by 9.15%, with SPX6900 (SPX) achieving a growth of 17.64%.
Other sectors with positive prospects
Layer1 increased by 6.12%, with Sui (SUI) rising by 12.03%, representing the stable development of infrastructure blockchains. PayFi rose by 6.22%, with Telcoin (TEL) surging by 25%, demonstrating the expanding potential of cryptocurrency payment applications. Finally, the CeFi sector also saw a slight increase of 2.85%, indicating capital flow even though it has not truly exploded.
Summary
Recent developments in the Middle East have acted as a catalyst for a strong recovery in the cryptocurrency market. Bitcoin and Ethereum lead the way, while AI, RWA, and NFT projects emerge as bright stars in the multi-sector landscape. This is also a positive signal for investors seeking sustainable growth opportunities and diversification in the vast cryptocurrency ecosystem.
Source: https://tintucbitcoin.com/tien-dien-tu-tang-ai-va-btc-but-pha/
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