Crypto Market Declines Across the Board, NFT Sector Surges 6.34%
The crypto market experienced a broad decline on July 24, according to SoSoValue data. Most sectors saw a decrease in value, but one notable exception was the NFT sector, which rose 6.34% against the trend. This anomaly was largely driven by the performance of two assets: Audiera (BEAT) and ApeCoin (APE).
Audiera surged 17.64%, while ApeCoin increased by 1.99%. In contrast, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) fell significantly. Bitcoin dropped to around $65,000, a decrease of 1.13% from the previous day's value. Meanwhile, Ethereum declined 2.79%, falling below $1,900.
The CeFi sector also experienced a decline, with NEXO (NEXO) losing 1.99%. The Layer1 sector decreased by 1.22%, led by a drop in Avalanche (AVAX) of 1.85%. Other sectors like PayFi and DeFi saw significant declines as well.
Interestingly, while the majority of sectors were down, some assets within those sectors performed better than others. For example, Binance Life surged 9.53% during intraday trading, despite its sector falling by a wider margin.