Crypto market sees broad decline, DeFi sector drops over 5%

Odaily Odaily News July 17, according to SoSoValue data, the crypto market sectors are broadly declining, with the DeFi sector showing weakness, falling 5.08% in 24 hours. Among them, Hyperliquid (HYPE) fell 10.28%, DeXe (DEXE) and Aave (AAVE) fell 4.83% and 6.12% respectively, but Beldex (BDX) bucked the trend, rising 6.61%.

Meanwhile, Bitcoin (BTC) fell 1.79%, dropping below $64,000; Ethereum (ETH) fell 3.53%, slipping below $1,900.

In other sectors, the Layer 2 sector fell 0.63% in 24 hours, but Mantle (MNT) rose 3.16%; the CeFi sector fell 0.94%, with Cronos (CRO) surging 8.68% during the session; the PayFi sector fell 2.32%, with Zcash (ZEC) falling 6.88%; the Layer 1 sector fell 2.41%, with NEAR Protocol (NEAR) falling 4.64%; and the Meme sector fell 2.57%, with Bonk (BONK) falling 5.70%.

The crypto sector indices, reflecting historical sector performance, show that the ssiDeFi, ssiSocialFi, and ssiAI indices fell by 5.97%, 4.24%, and 3.56%, respectively.