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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 rate cuts in September, market sentiment cooled down, and the crypto market experienced a broad decline over the past 24 hours, with generally a drop of about 2% to 9%. Among them, the Meme sector fell 8.62% in 24 hours, within the sector, Pepe (PEPE), SPX6900 (SPX), Fartcoin (FARTCOIN) respectively declined 10.43%, 10.97%, 13.52%. Additionally, Ethereum (ETH) fell 2.43%, temporarily dropping below $4,500, now rebounding above $4,600. Bitcoin (BTC) declined 3.85%, breaking below $119k.
In other sectors, the CeFi sector declined 1.18% over 24 hours, within the sector, LEO Token (LEO) remained relatively resilient, rising 1.57%; Layer1 sector fell 3.25%, among which Algorand (ALGO) dropped 9.86%; PayFi sector declined 6.57%, Velo (VELO) fell 10.55%; DeFi sector declined 6.65%, but Saros (SAROS) and AERO (Aerodrome Finance) respectively rose 2.19% and 2.28%; Layer2 sector fell 6.73%, SKALE (SKL) defied the trend and rose 47.98%.
Reflecting the historical market trends of sectors, the crypto sector indices show that ssiGameFi, ssiMeme, and ssiAI indices respectively declined 8.57%, 8.55%, 8.35%.