Data: The entire crypto market is under pressure, with the Meme sector leading declines of over 8%, and ETH briefly falling below $4,500.

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ChainCatcher Message, based on SoSoValue data: Driven by the U.S. July PPI significantly exceeding expectations, September rate-cut expectations weakened, market sentiment cooled, and the entire crypto market suffered setbacks across the board over the past 24 hours, with broad declines of about 2% to 9%. Among them, the Meme sector fell 8.62% over 24 hours; within the sector, Pepe (PEPE), SPX6900 (SPX), and Fartcoin (FARTCOIN) dropped 10.43%, 10.97%, and 13.52%, respectively. In addition, Ethereum (ETH) fell 2.43%, at one point dropping below $4,500, and has since rebounded to above $4,600. Bitcoin (BTC) fell 3.85%, dropping below $119,000.

As for other sectors: the CeFi sector fell 1.18% over 24 hours. Within the sector, LEO Token (LEO) held up relatively well, rising 1.57%; the Layer1 sector fell 3.25%, including Algorand (ALGO) down 9.86%; the PayFi sector fell 6.57%, with Velo (VELO) down 10.55%; the DeFi sector fell 6.65%, though Saros (SAROS) and AERO (Aerodrome Finance) rose 2.19% and 2.28%, respectively; the Layer2 sector fell 6.73%, but SKALE (SKL) surged 47.98% against the trend.

Crypto sector indices reflecting historical sector performance show that the ssiGameFi, ssiMeme, and ssiAI indices fell 8.57%, 8.55%, and 8.35%, respectively.

ETH-1.39%
PEPE-1.3%
SPX0.47%
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