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Data: The entire crypto market is under pressure, with the Meme sector leading declines of over 8%, and ETH temporarily falling below $4,500.
ChainCatcher News, based on SoSoValue data, influenced by the U.S. July PPI significantly exceeding expectations, with reduced expectations for large interest rate cuts in September, leading to a cooling of market sentiment. Over the past 24 hours, the cryptocurrency market has been broadly affected, with declines generally ranging from about 2% to 9%. Among them, the Meme sector dropped 8.62% in 24 hours, with Pepe (PEPE), SPX6900 (SPX), and Fartcoin (FARTCOIN) falling 10.43%, 10.97%, and 13.52%, respectively. Additionally, Ethereum (ETH) declined 2.43%, temporarily falling below $4,500, now rebounding above $4,600. Bitcoin (BTC) fell 3.85%, breaking below $119k.
In other sectors, the CeFi sector declined 1.18% over 24 hours, with LEO Token (LEO) remaining relatively resilient, rising 1.57%. The Layer1 sector dropped 3.25%, with Algorand (ALGO) down 9.86%. The PayFi sector declined 6.57%, with Velo (VELO) down 10.55%. The DeFi sector fell 6.65%, but Saros (SAROS) and AERO (Aerodrome Finance) rose 2.19% and 2.28%, respectively. The Layer2 sector declined 6.73%, with SKALE (SKL) defying the trend, rising 47.98%.
The crypto sector index reflecting sector historical performance shows that the ssiGameFi, ssiMeme, and ssiAI indices declined 8.57%, 8.55%, and 8.35%, respectively.