Crypto sectors slide as SocialFi drops 5.21%, while NFTs rise 8.62%

Bitcoin fell 1.52% below $63,000 and Ethereum lost 2.74% below $1,700 on June 24, while broad market weakness hit SocialFi and AI despite a rally in NFT-related tokens.

BTC
ETH
WLD

Summary

Crypto markets weakened broadly on June 24, with SoSoValue data showing sector declines led by SocialFi, down 5.21%, and AI, down 5.07%. Bitcoin fell 1.52% to below $63,000 and Ethereum dropped 2.74% to below $1,700, extending pressure on the largest cryptocurrencies as risk appetite softened across the market. NFTs stood out as the main exception, rising 8.62% against the wider downturn. Among individual tokens, Audiera (BEAT) jumped 40.86%, while Gram fell 7.78%, VVV dropped 10.90%, WLD lost 13.41% and LAB declined 17.49%.

Terms & Concepts
  • SocialFi: A crypto segment that blends social media features with financial incentives or services.
  • AI: A crypto market sector associated with artificial intelligence-related projects and tokens.
  • NFTs: Non-fungible tokens, or unique digital assets recorded on a blockchain.