NFT sector rises as broader crypto market weakens on July 24

SoSoValue data showed NFT-linked tokens outperforming during a market pullback, with Audiera posting strong gains while Bitcoin, Ethereum and several crypto sector indexes declined.

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APE

Summary

The NFT sector outperformed the wider crypto market on July 24, rising 6.34% according to SoSoValue data, even as Bitcoin fell 1.13% to around $65,000 and Ethereum dropped 2.79% to below $1,900. Audiera (BEAT) led the NFT advance, climbing 17.64%, while ApeCoin (APE) rose 1.99%; earlier data also cited APENFT (NFT) up 1.23%. Most other tracked segments moved lower, with ssiMeme down 4.05%, ssiRWA off 3.12% and ssiLayer2 lower by 3.07%. Earlier sector data similarly showed broad weakness across SocialFi, DeFi, Meme, CeFi, Layer1, Layer2 and PayFi tokens during the pullback.

Terms & Concepts
  • NFT sector: Market segment tied to non-fungible-token-related tokens and projects.
  • RWA: Real-world assets tokenized on blockchain networks.
  • Layer2: Blockchain scaling networks built on top of base blockchains.