The cryptocurrency market and related sectors are undergoing an adjustment phase with many groups experiencing significant declines in the last 24 hours.
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The AI sector decreased by 4.48%, and Bitcoin and Ethereum also lost significant value.
Many other segments such as CeFi, PayFi, Layer 1, and DeFi also saw sharp declines.
The ssiDeFi, ssiAI, and ssiMeme sector indices indicate an overall downward trend over the past 24 hours.
How are the cryptocurrency market and the AI sector fluctuating in the last 24 hours?
Statistical data from SoSoValue updated on 2/7 shows that the AI sector in the cryptocurrency market decreased by 4.48% in just one day, reflecting widespread adjustment pressure.
Among them, two notable AI Tokens are Bittensor (TAO) and Worldcoin (WLD), decreasing by 3.98% and 4.05% respectively. In contrast, KAITO experienced positive movement, increasing by 1.11% despite the overall market downtrend.
The AI sector in cryptocurrency is under adjustment pressure, but some projects may still maintain breakthrough growth momentum in the short term.
Market analysis by SoSoValue, 2/7/2024
How are Bitcoin and Ethereum performing during this time?
Bitcoin decreased by 1.44% in the last 24 hours, falling to around 105,000 USD, indicating short-term profit-taking selling pressure.
Ethereum also could not escape the general trend, decreasing by up to 3.14%, breaking through the important support level of 2,400 USD before showing slight signs of recovery.
According to reports from market experts, the volatility of BTC and ETH reflects the cautious sentiment of investors in light of current macroeconomic developments.
How are other segments in the cryptocurrency market fluctuating?
In addition to AI, many other related sectors also experienced significant declines: CeFi decreased by 2.03%, with the Token Hyperliquid (HYPE) losing 6.33% of its value; PayFi decreased by 2.70%, and Telcoin (TEL) fell by 7.49%.
Layer 1 recorded a decrease of 3.05%, while Solana (SOL) and Cardano (ADA) dropped by 4.15% and 4.73% respectively. Layer 2 also decreased by 3.42%, with Optimism (OP) falling by 5.34%.
The Meme coin segment also decreased by 4.05%, particularly Fartcoin (FARTCOIN) and SPX6900 (SPX), which dropped by 11.66% and 10.45% respectively.
DeFi is under pressure, decreasing by 4.14%, with Uniswap (UNI) losing 8.16% of its value.
"The decline of many major segments in the cryptocurrency market reflects an overall adjustment trend, requiring investors to be cautious and diversify their portfolios."
Mr. Nguyen Van Anh, CEO of CryptoData analysis company, 7/2024
How are the main industry indices of the cryptocurrency market fluctuating?
The sector index reflects market trends through sector Tokens, showing that ssiDeFi, ssiAI, and ssiMeme all decreased in 24 hours, at 4.79%, 4.25%, and 4.05% respectively.
This shows that the downward pressure is not concentrated in one group but spreads, affecting many fields in cryptocurrency.
Comparison table of declines by sector and typical Token in the last 24 hours
Sector Industry Index (%) Typical Token 24h Decrease (%) AI -4.25 Bittensor (TAO) -3.98 CeFi -2.03 Hyperliquid (HYPE) -6.33 PayFi -2.70 Telcoin (TEL) -7.49 Layer 1 -3.05 Solana (SOL) -4.15 Layer 2 -3.42 Optimism (OP) -5.34 Meme -4.05 Fartcoin (FARTCOIN) -11.66 DeFi -4.79 Uniswap (UNI) -8.16
Frequently asked questions
Is the significant decrease in the cryptocurrency AI sector a bad long-term signal? A 24-hour downward trend does not imply a long-term trend; investors should monitor additional indicators and market updates. Why did Bitcoin and Ethereum drop at the same time? Bitcoin and Ethereum are often affected by macroeconomic conditions and overall market sentiment, easily moving in sync during fluctuations. How does the decline in the DeFi segment affect the market? The drop in DeFi creates pressure on capital and liquidity, affecting most DeFi projects on the Blockchain. How to respond to the strong volatility of Meme coin Tokens? It is advisable to limit large investments in highly volatile Tokens and prioritize effective risk management. What does the sector ssi index reflect? The ssi index measures the overall performance of the sector Token group, helping to identify trends of growth or decline.
Source: https://tintucbitcoin.com/bitcoin-xuong-105-000-usd-ai-giam/
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