In the past week, the cryptocurrency market has shown robust performance, with significant growth in liquid staking, memecoins, and layer one protocols. Investors exhibited growing interest, further confirmed by the activity of major holders.
Liquid Staking and Layer 1s Steal the Spotlight
Liquid staking derivatives led the charge with a remarkable 27.06% increase, bringing the sector's total capitalization to $35.1 billion. Layer 1 protocols also saw impressive growth, rising by 19.44%, reflecting renewed investor confidence in foundational blockchain infrastructure.
Whale Deposits Highlight Market Caution
While many sectors saw gains, whale activity indicates potential market rotation. Eurite recorded a substantial deposit of $3.3 million to Binance, representing 7.38% of its total supply. Notable transfers from Illuvium and Mantra DAO further emphasize the significant movements by major holders.
Broader Market Gains Reflect Renewed Sentiment
In addition to standout sectors, others have performed well. NFT projects increased by 12.58%, while DeFi grew by 11.32%. Gaming tokens rose by 11.98%, confirming the growing interest in tokenized traditional finance.
The overall recovery of the cryptocurrency market in recent days underscores new investor confidence and highlights the importance of key sectors like liquid staking and memecoins.
