PANews reported on August 8 that, according to SoSoValue data, the crypto market has seen significant gains, with increases generally reaching about 2% to 9%. On the news front, Trump signed an executive order allowing 401(k) retirement plans to invest in cryptocurrencies, which could lead to approximately $9 trillion in retirement funds becoming a long-term stable source for the crypto market. Additionally, the expectation of a ceasefire between Russia and Ukraine has boosted market sentiment. The Layer2 sector rose 9.53% in 24 hours, with Mantle (MNT) increasing by 25.77% and Zora (ZORA) rising by 34.35%. At the same time, Ethereum (ETH) rose by 5.67%, briefly surpassing $3900, while Bitcoin (BTC) rose by 1.79%, currently reported at $116,000.
Other standout sectors include: the PayFi sector rose by 9.09%, with XRP, which officially ended a 4-year legal dispute with the SEC, increasing by 11.21%, and Stellar (XLM) significantly climbing by 14.41%; the NFT sector rose by 7.75%, with Pudgy Penguins (PENGU) increasing by 6.68%; the RWA sector rose by 7.41%, with Pendle (PENDLE) and Keeta (KTA) rising by 26.69% and 28.56%, respectively.
In other sectors, the DeFi sector rose by 6.02%, with Chainlink (LINK) increasing by 10.32%; the Meme sector rose by 5.96%, with BUILDon (B) increasing by 16.72%; the Layer1 sector rose by 3.32%, with Hedera (HBAR) increasing by 8.07%; the CeFi sector rose by 2.51%, with Hyperliquid (HYPE) increasing by 6.72%.
