Cryptocurrency market sees broad correction, SocialFi sector bucks the trend with over 7% surge, BTC falls below $71,000
On June 2, according to SoSoValue data, the cryptocurrency market sectors mostly declined. The PayFi sector fell 4.15% in 24 hours, with XRP down 3.26% and Stellar (XLM) dropping 11.45%. However, Ultima (ULTIMA) bucked the trend, rising 2.79%. Meanwhile, Bitcoin (BTC) fell 3.60%, dropping below $71,000, and Ethereum (ETH) declined 0.92%, falling below $2,000.
In contrast, the SocialFi sector rallied counter-trend, gaining 7.03% over 24 hours. Within the sector, Toncoin (TON) rose 4.18%, and Chiliz (CHZ) increased 5.71%. The AI sector was up 3.13%, with Worldcoin (WLD) surging 18.53%. The DeFi sector added 2.98%, with Hyperliquid (HYPE) up 1.76% and LAB (LAB) skyrocketing 64.79%. The Meme sector climbed 1.09%, and Siren (SIREN) rose 15.38%.
In other sectors, the Layer1 sector decreased by 1.09%, though NEAR Protocol (NEAR) saw a intraday rally of 14.22%. The CeFi sector fell 1.47%, with Binance Coin (BNB) down 1.94%. The Layer2 sector dropped 2.31%, but Optimism (OP) remained relatively resilient, rising 2.88%.
Sector indices reflecting historical sector performance showed that the ssiSocialFi, ssiAI, and ssiMeme indices rose 7.22%, 1.87%, and 1.31%, respectively.
