Crypto markets saw a broad-based correction, with the PayFi sector falling nearly 4%.

According to data from SoSoValue, as reported by Odaily Planet Daily on December 5th, the cryptocurrency market saw a general correction after a period of continuous gains. The PayFi sector fell 3.78% in the past 24 hours, with XRP (XRP) dropping 4.37%. However, Dash (DASH) and Ultima (ULTIMA) bucked the trend, rising 3.32% and 5.06% respectively. Additionally, Bitcoin (BTC) fell 1.06%, dropping below $93,000; Ethereum (ETH) fell 1.73%, dropping below $3,200.

In other sectors, the CeFi sector fell 1.96% in the last 24 hours, with OKB relatively strong, rising 1.91%; the Layer 1 sector fell 2.24%, but TRON (TRX) and Zcash (ZEC) rose 2.43% and 10.02% respectively; the Layer 2 sector fell 3.01%, with Merlin Chain (MERL) surging 9.93% intraday; the Meme sector fell 3.09%, with Fartcoin (FARTCOIN) bucking the trend and rising 5.93%; and the DeFi sector fell 3.41%, but MYX Finance (MYX) climbed 7.08% intraday.

The crypto sector indices, which reflect the historical performance of the sector, show that the ssiCeFi, ssiLayer1, and ssiDeFi indices fell by 2.03%, 2.01%, and 4.40%, respectively.