The cryptocurrency market is undergoing a slight adjustment with contrasting volatility in different token groups.
In the past 24 hours, Meme Coin groups have declined; however, some tokens like Bonk still saw price increases. Ethereum and Bitcoin remained stable around important price levels, while the NFT, SocialFi, PayFi, and DeFi sectors showed positive trends.
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The Meme Coin group decreased by an average of 2.11%, with some tokens dropping significantly like MemeCore by nearly 29%.
Ethereum increased slightly by 0.76%, maintaining around $3,000; Bitcoin increased by 0.18%, holding at $118,000.
The NFT, SocialFi, PayFi, and DeFi sectors recorded positive recovery, especially some tokens like PENGU, TEL, and UNI.
How is the cryptocurrency market fluctuating on July 15?
The latest data from SoSoValue shows that the cryptocurrency market on July 15 experienced slight adjustments with contrasting trends between token groups. The Meme Coin group dropped sharply, while many other sectors grew, reflecting clear differentiation.
This indicates that the level of volatility is still present but does not detract from the attractiveness of the DeFi and NFT sectors in the global cryptocurrency ecosystem.
Why is the Meme Coin group dropping significantly while some other tokens are rising?
The Meme Coin group decreased by 2.11% with prominent tokens like Mog Coin down 17.93% and MemeCore down nearly 29%. The reason is due to the decline in speculative demand and profit-taking pressure on less stable tokens.
Conversely, Bonk increased by 4.04% thanks to promotional moves and a strong community, attracting short-term investment. According to the 2024 cryptocurrency market report, this differentiation reflects the varying liquidity and reliability between different types of tokens.
The differentiation in the cryptocurrency market is becoming clearer, so investors need to selectively choose tokens based on clearer technical and fundamental analysis.
Nguyen Minh Quan, CEO of Cryptocurrency Financial Consulting Company, 6/2024
What roles do Ethereum and Bitcoin play in this round of volatility?
Ethereum increased by 0.76%, holding around $3,000, while Bitcoin increased slightly by 0.18% and maintained around $118,000. These two leading cryptocurrencies still show relatively stable performance, indicating that the underlying market strength remains solid.
This is also confirmed through the Crypto Market Outlook 2024 report, indicating that large investors (ETH whales, Bitcoin whales) still maintain long-term holding positions, contributing to reducing extreme volatility.
What areas in cryptocurrency are receiving the most positive attention?
Industries such as NFT, SocialFi, PayFi, and DeFi have all recorded notable growth today. For example, tokens PENGU, TEL, and UNI performed well in the market thanks to protocol updates, new features, and ecosystem expansion.
Layer 1 and Layer 2 have seen much volatility, but promising tokens like SUI and MNT show strong recovery potential, promising to attract long-term investors.
NFT and DeFi are becoming new bright spots for the cryptocurrency market, demonstrating the diverse and sustainable development of the ecosystem.
Tran Thi Bich Ngoc, Cryptocurrency Market Analyst, 6/2024
What factors influence volatility in token groups in the market?
Price fluctuations in each token group are influenced by liquidity levels, investor sentiment, and technical events such as network upgrades or new product launches. Differences in supply and demand also play an important role.
At the same time, regulatory policies and global investment trends also have a direct impact on price volatility. For example, data from the ChainData Report 2024 emphasizes the role of whale activity in steering the short-term market.
Which token groups can be compared during this period?
Volatile Token Group Main Reasons Meme Coin (MOG, MemeCore) Decreased 17.93% – 28.96% Profit-taking pressure, reduced speculation Bonk Increased 4.04% Growing community, encouraging investment Ethereum (ETH) Increased 0.76% hovering around $3,000 Stability, underlying strength Bitcoin (BTC) Increased 0.18% hovering around $118,000 Leading position, significant influence NFT, SocialFi, PayFi, DeFi (PENGU, TEL, UNI) Increased Protocol development, new features
Frequently Asked Questions
Is the current cryptocurrency market quite stagnant?
The market remains multidimensional with a clear differentiation between token groups, not entirely quiet but rather a reasonable adjustment.
Why are ETH and BTC less volatile compared to smaller tokens?
Due to network strength, large liquidity, and a leading role, ETH and BTC maintain more stability than smaller tokens that are easily influenced by speculative sentiment.
Should we invest in Meme Coins at this stage?
Based on volatility data and high risk, investing in Meme Coins requires great caution and prioritizing tokens with strong communities and clear roadmaps.
How are NFT and DeFi sectors continuing to develop?
NFT and DeFi continue to be bright spots with many upgrade projects, attracting many long-term investors due to increasing utility and liquidity.
How to quickly update market volatility information?
It is advisable to monitor reports and analyses from experts and large data platforms, as well as tracking whale activities and significant events on the Blockchain.
Source: https://tintucbitcoin.com/meme-coin-xanh-mat-da-hom-nay/
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