Crypto market sees broad correction; SocialFi sector surges over 7% against the trend, BTC slips below $71,000
Odaily reported on June 2 that according to SoSoValue data, the crypto market sectors broadly declined. The PayFi sector dropped 4.15% in 24 hours, with XRP falling 3.26% and Stellar (XLM) down 11.45%. However, Ultima (ULTIMA) bucked the trend, rising 2.79%. Meanwhile, Bitcoin (BTC) decreased by 3.60%, falling below $71,000, and Ethereum (ETH) declined 0.92%, slipping below $2,000.
In contrast, the SocialFi sector rallied against the market, rising 7.03% in 24 hours. Within the sector, Toncoin (TON) increased by 4.18%, and Chiliz (CHZ) rose 5.71%. The AI sector gained 3.13%, led by Worldcoin (WLD) which surged 18.53%. The DeFi sector grew 2.98%, with Hyperliquid (HYPE) up 1.76% and LAB (LAB) soaring 64.79%. The Meme sector edged up 1.09%, as Siren (SIREN) climbed 15.38%.
In other sectors, the Layer 1 sector fell 1.09%, though NEAR Protocol (NEAR) rallied 14.22% during the session. The CeFi sector declined 1.47%, with Binance Coin (BNB) dropping 1.94%. The Layer 2 sector decreased by 2.31%, but Optimism (OP) performed relatively well, gaining 2.88%.
Crypto sector indices tracking historical sector performance show that the ssiSocialFi, ssiAI, and ssiMeme indices rose by 7.22%, 1.87%, and 1.31%, respectively.
