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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, according to SoSoValue data, driven by the U.S. July PPI coming in far above expectations, which weakened September’s rate-cut expectations, market sentiment cooled, and the crypto market was broadly hit across the board over the past 24 hours, with overall declines of approximately 2% to 9%. Among them, the Meme sector fell 8.62% over 24 hours; within the sector, Pepe (PEPE), SPX6900 (SPX), and Fartcoin (FARTCOIN) fell 10.43%, 10.97%, and 13.52%, respectively. In addition, Ethereum (ETH) fell 2.43%, once dropping below $4,500, and has since rebounded to above $4,600. Bitcoin (BTC) fell 3.85%, breaking below $119,000.
In other sectors, the CeFi sector declined 1.18% over 24 hours. Within the sector, LEO Token (LEO) remained relatively resilient, 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%, but Saros (SAROS) and AERO (Aerodrome Finance) rose 2.19% and 2.28%, respectively; the Layer2 sector fell 6.73%, while SKALE (SKL) bucked the trend with a 47.98% gain.
Crypto sector indices reflecting historical sector performance show that the ssiGameFi, ssiMeme, and ssiAI indices fell 8.57%, 8.55%, and 8.35%, respectively.