According to the latest market analysis based on SoSoValue data, the overall cryptocurrency market is in a correction phase, with the GameFi sector also showing a softening trend. By organizing price movements across multiple sectors and observing the overall market dynamics, the current market environment becomes clearer.
GameFi Sector Weakening Phase
The GameFi sector has recorded a 4.90% decline over the past 24 hours, making its downward movement more prominent among market sectors. Looking at major projects within the sector, The Sandbox (SAND) has slightly increased by 0.83% in the last 24 hours, suggesting a minor rebound. Meanwhile, Axie Infinity (AXS) has fallen by only 1.73%, indicating relatively stable performance. Notably, Beam (BEAM) has been forced into a 3.61% correction, reflecting increasing pressure within the GameFi sector.
Price Movements of Major Cryptocurrencies (BTC & ETH)
Bitcoin (BTC) has limited its decline to 0.35%, trading at $67.87K, maintaining relatively stable price action. Ethereum (ETH), on the other hand, has risen by 1.29% to $1.97K, demonstrating resilience as the second-largest digital asset by market cap. The gentle corrections in both BTC and ETH are also seen as supporting overall market stability.
Market Trends in Other Sectors
The CeFi sector has declined by 1.55%, with Aster (ASTER) falling slightly by 0.70%. The PayFi sector has dropped by 2.03%, with Monero (XMR) experiencing a 10.25% decrease. The Meme sector declined by 2.10%, with PIPPIN (PIPPIN) showing a minor correction of 0.20%.
The Layer1 sector fell by 2.25%, but TRON (TRX) performed relatively well with a 1.27% increase, maintaining a fairly solid market stance. The DeFi sector declined by 3.10%, though specific data on River (RIVER) movements are unavailable; meanwhile, the Layer2 sector faced a 4.63% decline, with Movement (MOVE) slightly up by 0.41%.
Market Structure as Seen in Sector Indices
The overall market structure is revealed through the movement of sector indices. The GameFi sector index (ssiGameFi) has decreased by 6.05%, the Layer2 index (ssiLayer2) by 4.93%, and the AI-related index (ssiAI) by 4.39%, indicating that even these sectors considered growth areas are undergoing corrections. From the overall market trend, it is evident that emerging sectors tend to experience higher correction pressures, reflecting cautious market participation amid ongoing volatility.
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GameFi Market Sector Trends: In-Depth Analysis of Major Tokens' 24-Hour Movements
According to the latest market analysis based on SoSoValue data, the overall cryptocurrency market is in a correction phase, with the GameFi sector also showing a softening trend. By organizing price movements across multiple sectors and observing the overall market dynamics, the current market environment becomes clearer.
GameFi Sector Weakening Phase
The GameFi sector has recorded a 4.90% decline over the past 24 hours, making its downward movement more prominent among market sectors. Looking at major projects within the sector, The Sandbox (SAND) has slightly increased by 0.83% in the last 24 hours, suggesting a minor rebound. Meanwhile, Axie Infinity (AXS) has fallen by only 1.73%, indicating relatively stable performance. Notably, Beam (BEAM) has been forced into a 3.61% correction, reflecting increasing pressure within the GameFi sector.
Price Movements of Major Cryptocurrencies (BTC & ETH)
Bitcoin (BTC) has limited its decline to 0.35%, trading at $67.87K, maintaining relatively stable price action. Ethereum (ETH), on the other hand, has risen by 1.29% to $1.97K, demonstrating resilience as the second-largest digital asset by market cap. The gentle corrections in both BTC and ETH are also seen as supporting overall market stability.
Market Trends in Other Sectors
The CeFi sector has declined by 1.55%, with Aster (ASTER) falling slightly by 0.70%. The PayFi sector has dropped by 2.03%, with Monero (XMR) experiencing a 10.25% decrease. The Meme sector declined by 2.10%, with PIPPIN (PIPPIN) showing a minor correction of 0.20%.
The Layer1 sector fell by 2.25%, but TRON (TRX) performed relatively well with a 1.27% increase, maintaining a fairly solid market stance. The DeFi sector declined by 3.10%, though specific data on River (RIVER) movements are unavailable; meanwhile, the Layer2 sector faced a 4.63% decline, with Movement (MOVE) slightly up by 0.41%.
Market Structure as Seen in Sector Indices
The overall market structure is revealed through the movement of sector indices. The GameFi sector index (ssiGameFi) has decreased by 6.05%, the Layer2 index (ssiLayer2) by 4.93%, and the AI-related index (ssiAI) by 4.39%, indicating that even these sectors considered growth areas are undergoing corrections. From the overall market trend, it is evident that emerging sectors tend to experience higher correction pressures, reflecting cautious market participation amid ongoing volatility.