Crypto Market Sees Broad Decline, DeFi Sector Down Nearly 9%

Odaily, July 8. According to SoSoValue data, the cryptocurrency market experienced a broad decline, with 24-hour drops generally ranging from 2% to 9%. The DeFi sector led the market downturn, falling 8.77%. LAB (LAB) dropped 67.70%, Hyperliquid (HYPE) fell 4.30%, but EdgeX (EDGE) and Lido DAO (LDO) bucked the trend, rising 29.12% and 11.01% respectively.

In other sectors, the CeFi sector fell 1.66% in 24 hours, with Cronos (CRO) down 3.91%; the Layer1 sector fell 2.22%, while Zcash (ZEC) surged 5.17% during the session; the PayFi sector fell 2.30%, with Telcoin (TEL) relatively resilient, up 4.11%; the Meme sector fell 2.73%, but MemeCore (M) rose significantly by 11.30%; the Layer2 sector fell 3.02%, with Mantle (MNT) down 5.31%.

Reflecting the historical performance of these sectors, the crypto sector indices show that the ssiSocialFi, ssiDePIN, and ssiAI indices fell by 9.26%, 6.50%, and 5.23% respectively.