According to SoSoValue data, the Federal Reserve cut interest rates by 25 basis points, resuming the pace of rate cuts that had been suspended since December of last year, and projected another 50 basis points of room for further cuts this year. This positive news led to widespread gains in the crypto sector, with the Meme sector seeing a 24-hour gain of 5.09%. Within the sector, MemeCore (M) surged 18.49%, and Pump.fun (PUMP) rose 7.13%. Furthermore, Ethereum (ETH) rose 2.26%, breaking through $4,600. However, Bitcoin (BTC) dipped slightly by 0.05%, remaining around $116,000.

Meanwhile, MAG 7.ssi rose 2.37%, DEFI.ssi gained 2.63%, and MEME.ssi climbed 5.06%.

Other sectors with outstanding performance include: NFT sector rose 4.48% in 24 hours, among which Pudgy Penguins (PENGU) rose 10.11%, AI sector rose 3.79%, Fartcoin (FARTCOIN) rose 8.56%, DeFi sector rose 3.68%, and MYX Finance (MYX) rose sharply by 27.85%.

In other sectors, the Layer 1 sector rose 3.64%. Within the sector, Avalanche (AVAX) rose 8.43%; the CeFi sector rose 3.08%, Binance Coin (BNB) rose 3.18%, once approaching the $1,000 mark, setting a new historical high, APX rose sharply by 377.12%; the Layer 2 sector rose 1.88%, Arbitrum (ARB) rose 5.27%; the PayFi sector rose 1.66%, and Bitcoin Cash (BCH) rose 3.82%.

In addition, the SocialFi sector fell for two consecutive days, falling another 0.08% in 24 hours, among which Toncoin (TON) fell 0.44%.

The crypto sector index, which reflects the historical market trends of the sector, shows that the ssiNFT, ssiAI, and ssiMeme indices rose by 6.36%, 4.83%, and 4.68%, respectively.